Market Overview:
The global machine translation market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for translations in various industries, such as automotive, military & defense, electronics, IT, healthcare and others. Additionally, the increasing adoption of smart automation technology is also contributing to the growth of this market. However, lack of skilled professionals is restraining the growth of this market.
Product Definition:
Machine Translation is the process of translating text from one language to another using a computer program. Machine Translation is important because it can help to speed up the translation process, and it can also be used to help people learn new languages.
Automated Translation:
Automated translation is a process where two (or more) languages are converted into each other by the use of an automated program. The program is activated by some rules or algorithm and it converts the source language text to the target language with no human intervention. This technology has been around for decades, however, only recently has its growth factor accelerated due to technological advancements in Artificial Intelligence (AI).
The major driving factors responsible for market growth include increasing globalization efforts.
Smart Automated Translation:
Smart automated translation is a technology that enables computer-based machine translation. It uses multilingual database and allows the software to detect the equivalent expression in other languages. The process of detecting language pairs is based on certain rules which are established between language tags (tags for languages, not for dialects or accents) and their corresponding tokens (lexemes or words). These rules are used to map similar expressions in different languages.
Application Insights:
The automotive application segment accounted for the largest revenue share in 2017 and is projected to continue its dominance over the forecast period. The growth of this segment can be attributed to growing demand for multilingual car drivers¢â‚¬â„¢ aid, car manuals, and other related documents. Technology driven vehicles are becoming increasingly popular across major geographies which has led to an increased demand for MT services in this sector.
Automotive manufacturers are continuously investing in research & development activities pertaining to machine translation systems that help translate foreign language text into English or another local language automatically without the need for a human operator intervention during vehicle manufacturing process itself. This technology helps automakers offer their customers more convenient products with better quality at lower costs by reducing errors caused due to human error during translation process from original source languages into translated target languages usingMT system as middlemen between source texts and translated target texts respectively.
Regional Analysis:
The global market has been segmented into North America, Europe, Asia Pacific and Middle East & Africa. North America dominated the overall market in terms of revenue with a share of over 40% in 2017. This is attributed to the presence of prominent machine translation providers such as Google Inc., Microsoft Corporation and Amazon Web Services, Inc. These companies are continuously investing in R&D activities for developing innovative technologies that can translate content automatically from one language to another.
Asia Pacific region is expected to grow at a lucrative CAGR during the forecast period owing to growing demand from emerging economies such as China and India along with other countries within this region such as Japan.
Growth Factors:
- Increasing demand for translations in the global market
- Rapid growth of machine translation technology
- Proliferation of multilingual content on the internet
- Growing number of freelance translators and translation service providers
- Rising demand for translations in specific industries such as healthcare, legal, and business
Scope Of The Report
Report Attributes
Report Details
Report Title
Machine Translation Market Research Report
By Type
Automated Translation, Smart Automated Translation, Raw Machine Translation, Fully Automated Usable Translations, Rule Based Machine Translation, Statistical Machine Translation Technology
By Application
Automotive, Military & Defense, Electronics, IT, Healthcare, Others
By Companies
AppTek, Asia Online, Cloudwords, IBM, Lighthouse IP, Lingo24, Lingotek, Lionbridge Technologies, Lucy Software and Services, Moravia
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
211
Number of Tables & Figures
148
Customization Available
Yes, the report can be customized as per your need.
Global Machine Translation Market Report Segments:
The global Machine Translation market is segmented on the basis of:
Types
Automated Translation, Smart Automated Translation, Raw Machine Translation, Fully Automated Usable Translations, Rule Based Machine Translation, Statistical Machine Translation Technology
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Automotive, Military & Defense, Electronics, IT, Healthcare, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- AppTek
- Asia Online
- Cloudwords
- IBM
- Lighthouse IP
- Lingo24
- Lingotek
- Lionbridge Technologies
- Lucy Software and Services
- Moravia
Highlights of The Machine Translation Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Automated Translation
- Smart Automated Translation
- Raw Machine Translation
- Fully Automated Usable Translations
- Rule Based Machine Translation
- Statistical Machine Translation Technology
- By Application:
- Automotive
- Military & Defense
- Electronics
- IT
- Healthcare
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Machine Translation Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Machine translation is a process of translating text from one language to another using computer algorithms.
Some of the major players in the machine translation market are AppTek, Asia Online, Cloudwords, IBM, Lighthouse IP, Lingo24, Lingotek, Lionbridge Technologies, Lucy Software and Services, Moravia.
The machine translation market is expected to grow at a compound annual growth rate of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Machine Translation Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Machine Translation Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Machine Translation Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Machine Translation Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Machine Translation Market Size & Forecast, 2018-2028
4.5.1 Machine Translation Market Size and Y-o-Y Growth
4.5.2 Machine Translation Market Absolute $ Opportunity
Chapter 5 Global Machine Translation Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Machine Translation Market Size Forecast by Type
5.2.1 Automated Translation
5.2.2 Smart Automated Translation
5.2.3 Raw Machine Translation
5.2.4 Fully Automated Usable Translations
5.2.5 Rule Based Machine Translation
5.2.6 Statistical Machine Translation Technology
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Machine Translation Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Machine Translation Market Size Forecast by Applications
6.2.1 Automotive
6.2.2 Military & Defense
6.2.3 Electronics
6.2.4 IT
6.2.5 Healthcare
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Machine Translation Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Machine Translation Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Machine Translation Analysis and Forecast
9.1 Introduction
9.2 North America Machine Translation Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Machine Translation Market Size Forecast by Type
9.6.1 Automated Translation
9.6.2 Smart Automated Translation
9.6.3 Raw Machine Translation
9.6.4 Fully Automated Usable Translations
9.6.5 Rule Based Machine Translation
9.6.6 Statistical Machine Translation Technology
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Machine Translation Market Size Forecast by Applications
9.10.1 Automotive
9.10.2 Military & Defense
9.10.3 Electronics
9.10.4 IT
9.10.5 Healthcare
9.10.6 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Machine Translation Analysis and Forecast
10.1 Introduction
10.2 Europe Machine Translation Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Machine Translation Market Size Forecast by Type
10.6.1 Automated Translation
10.6.2 Smart Automated Translation
10.6.3 Raw Machine Translation
10.6.4 Fully Automated Usable Translations
10.6.5 Rule Based Machine Translation
10.6.6 Statistical Machine Translation Technology
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Machine Translation Market Size Forecast by Applications
10.10.1 Automotive
10.10.2 Military & Defense
10.10.3 Electronics
10.10.4 IT
10.10.5 Healthcare
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Machine Translation Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Machine Translation Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Machine Translation Market Size Forecast by Type
11.6.1 Automated Translation
11.6.2 Smart Automated Translation
11.6.3 Raw Machine Translation
11.6.4 Fully Automated Usable Translations
11.6.5 Rule Based Machine Translation
11.6.6 Statistical Machine Translation Technology
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Machine Translation Market Size Forecast by Applications
11.10.1 Automotive
11.10.2 Military & Defense
11.10.3 Electronics
11.10.4 IT
11.10.5 Healthcare
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Machine Translation Analysis and Forecast
12.1 Introduction
12.2 Latin America Machine Translation Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Machine Translation Market Size Forecast by Type
12.6.1 Automated Translation
12.6.2 Smart Automated Translation
12.6.3 Raw Machine Translation
12.6.4 Fully Automated Usable Translations
12.6.5 Rule Based Machine Translation
12.6.6 Statistical Machine Translation Technology
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Machine Translation Market Size Forecast by Applications
12.10.1 Automotive
12.10.2 Military & Defense
12.10.3 Electronics
12.10.4 IT
12.10.5 Healthcare
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Machine Translation Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Machine Translation Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Machine Translation Market Size Forecast by Type
13.6.1 Automated Translation
13.6.2 Smart Automated Translation
13.6.3 Raw Machine Translation
13.6.4 Fully Automated Usable Translations
13.6.5 Rule Based Machine Translation
13.6.6 Statistical Machine Translation Technology
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Machine Translation Market Size Forecast by Applications
13.10.1 Automotive
13.10.2 Military & Defense
13.10.3 Electronics
13.10.4 IT
13.10.5 Healthcare
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Machine Translation Market: Competitive Dashboard
14.2 Global Machine Translation Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 AppTek
14.3.2 Asia Online
14.3.3 Cloudwords
14.3.4 IBM
14.3.5 Lighthouse IP
14.3.6 Lingo24
14.3.7 Lingotek
14.3.8 Lionbridge Technologies
14.3.9 Lucy Software and Services
14.3.10 Moravia
