Press release
Machine Translation (MT) Market Technology Developments and Future Growth to 2028 | AppTek, Asia Online, Cloudwords
This report provides an in-depth view of the Machine Translation (MT) Market detailing the market size and then progresses to evaluation of each crucial attribute of the market in detail. The market report gives a detailed study on the present market position of the Machine Translation (MT) industry, expected future growth, technological advancements, investment opportunities of the market. This report does a comprehensive analysis of the market providing insights based on SWOT analysis of the industry. The report on Machine Translation (MT) market gives access to significant data including, growth drivers of the market, factors restraining market growth, latest market trends and historical Analysis (2022 - 2028).Market Insights Reports research analyses that The Machine Translation Market was valued at USD 153.8 million in 2020, and it is expected to reach USD 230.67 million by 2027, registering a CAGR of 7.1%, during the period of 2022-2027.
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Top Major Competitive Players:
It additionally describes Machine Translation (MT) player/manufacturers strategy within the lightweight of Porters, worth Chain & SWOT analysis and supported that recommendation on player's springs like
- AppTek, Asia Online, Cloudwords, IBM, Lighthouse IP Group, Lingo24, Lingotek, Lionbridge Technologies, Lucy Software and Services, Moravia IT, Pangeanic, ProMT, Raytheon BBN Technologies, SDL, Smart Communications, Systran International, Welocalize,
Industry News:
- March 2020 - The European Commission's automated eTranslation tool was made available to all the region's small and medium-sized enterprises (SMEs). The SMEs can use the eTranslation tool primarily to translate documents or plain text between any of the 24 official European Union languages, as well as Icelandic, Russian, and Norwegian. The service has been made free of charge while guaranteeing the confidentiality and security of all the translated data.
Segmentation by Applications:
Rule-Based Machine Translation (RBMT)
Statistical Machine Translation (SMT)
Example-based machine translation (EBMT)
Hybrid machine translation (HMT)
Neural MT
Segmentation by Types:
Healthcare
Automotive
Military & Defense
IT
Others
North America to Hold Maximum Market Share
- North America is one of the prominent markets for machine translation, owing to its growing demands across the United States' IT sector, which holds majority of the regional market demand. Some of the prominent IT companies across the region are among the primary adopters of this technology to meet global customers' requirements.
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The key regions covered in the Machine Translation (MT) market report is:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
KEY aspects covered in the report include:
- The market size and industry growth rate of the global and regional market across various segments
- The region or the sub-segment that is expected to drive the Machine Translation (MT) market in the forecast period 2022-2028
- Key companies operating in the global Machine Translation (MT) market and their market share
- The Factors that are estimated to drive the Machine Translation (MT) Market growth
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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