Market Overview:
The global machine translation software market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for machine translation software from individual and enterprise users, and the growing demand for multilingual content across different regions. On-premise machine translation software held a major share of the global machine translation software market in 2017, owing to its advantages such as low cost and better security features as compared to cloud-based solutions. However, cloud-based solutions are expected to witness higher growth during the forecast period due to their advantages such as easy deployment, lower TCO (total cost of ownership), scalability, and faster time-to-market. The application segment for machine translation software includes individual users, enterprise users, and others (government organizations & academic institutions). In 2017, individual users accounted for the majority share of the global machine translation software market due to rising demand for multilingual content among individuals across different regions.
Product Definition:
Machine Translation Software is a computer program that translates text from one language to another. It is used to translate documents, websites, and other text. Machine translation software is important because it allows people to communicate in different languages.
On-premise:
On-premise software is a type of translation management software that is installed and used on the end user's own server. The advantage of using this type of software is that it offers total control over all processes, from start to finish. It also has the benefit of being able to offer highly customized solutions according to client requirements.
Cloud-based:
Cloud-based MTS is a service that allows users to access machine translation software over the internet. It provides an interface where users can search for words or phrases in one language and get results in another language. The service also helps companies that need to manage multiple sites with common tools. Cloud-based MTS offers benefits such as cost efficiency, easy accessibility, and quick turnaround time on technical issues.
The global market size was valued at USD 1,22 billion in 2015.
Application Insights:
The enterprise application segment accounted for the largest revenue share of over 60% in 2017. The growth can be attributed to the growing use of machine translation software across various enterprise applications, such as customer support, content management, and marketing. For instance, companies like Microsoft Corporation; SDL; Astrazeneca Pharmaceuticals Ltd.; and Toyota Motor Corp., have deployed MT solutions for internal business communication purposes. These factors are likely to drive the demand over the forecast period.
Individual application is expected to be one of fastest-growing segments from 2018 to 2030 owing to increasing consumer preference for on-the-goMT services coupled with rising smartphone usage globally. Mobile apps including Google TranslateApp by Google LLC; Yahoo! Babel Fish by Yahoo!, Inc.; Baidu Taobao Chinese Language Service by Baidu Inc.
Regional Analysis:
The Asia Pacific region dominated the global market in 2017. The growth can be attributed to increasing investments by Google, Microsoft Corporation, and Facebook Inc. in developing machine translation technologies for local languages across the Asia Pacific region. These companies are focusing on developing new algorithms that can translate between different languages with higher accuracy and precision. This is expected to drive regional growth over the forecast period as well as beyond 2030.
The European market also accounted for a significant share of revenue owing to growing demand from enterprises for MT software that helps them communicate with customers or suppliers globally through translated content in their own language rather than relying on translations done manually by human translators or AI engines which are expensive and time-consuming processes resulting into high costs associated with such translations; thus leading towards reducing labor costs within organizations while simultaneously boosting customer satisfaction levels thereby driving demand across several sectors including BFSI, retail & e-commerce, telecom services among others).
Growth Factors:
- Increasing demand for translations in the global market
- Rapid growth of the e-commerce sector
- Proliferation of multilingual content on the internet
- Growing demand for translation services from businesses and governments
- Advancements in machine translation technology
Scope Of The Report
Report Attributes
Report Details
Report Title
Machine Translation Software Market Research Report
By Type
On-premise, Cloud-based
By Application
Individual, Enterprise, Others
By Companies
Google, Microsoft, IBM, Yandex, Amazon Web Services, Ludwig, Babylon Software, GrammarSoft, Talkao, IdiomaX, Systran, TripLingo, OpenLogos, Texthelp, ITranslate
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
169
Number of Tables & Figures
119
Customization Available
Yes, the report can be customized as per your need.
Global Machine Translation Software Market Report Segments:
The global Machine Translation Software market is segmented on the basis of:
Types
On-premise, Cloud-based
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
Individual, Enterprise, 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:
- Google
- Microsoft
- IBM
- Yandex
- Amazon Web Services
- Ludwig
- Babylon Software
- GrammarSoft
- Talkao
- IdiomaX
- Systran
- TripLingo
- OpenLogos
- Texthelp
- ITranslate
Highlights of The Machine Translation Software 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:
- On-premise
- Cloud-based
- By Application:
- Individual
- Enterprise
- 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 Software 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.
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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 software is a computer program that helps a human translator translate text from one language to another. The software uses algorithms to analyze the source text and create translations that are as close as possible to the original.
Some of the major players in the machine translation software market are Google, Microsoft, IBM, Yandex, Amazon Web Services, Ludwig, Babylon Software, GrammarSoft, Talkao, IdiomaX, Systran, TripLingo, OpenLogos, Texthelp, ITranslate.
The machine translation software market is expected to register a CAGR of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Machine Translation Software 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 Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Machine Translation Software 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 Software 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 Software Market Size & Forecast, 2018-2028
4.5.1 Machine Translation Software Market Size and Y-o-Y Growth
4.5.2 Machine Translation Software Market Absolute $ Opportunity
Chapter 5 Global Machine Translation Software 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 Software Market Size Forecast by Type
5.2.1 On-premise
5.2.2 Cloud-based
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Machine Translation Software 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 Software Market Size Forecast by Applications
6.2.1 Individual
6.2.2 Enterprise
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Machine Translation Software 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 Software 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 Software Analysis and Forecast
9.1 Introduction
9.2 North America Machine Translation Software 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 Software Market Size Forecast by Type
9.6.1 On-premise
9.6.2 Cloud-based
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 Software Market Size Forecast by Applications
9.10.1 Individual
9.10.2 Enterprise
9.10.3 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 Software Analysis and Forecast
10.1 Introduction
10.2 Europe Machine Translation Software 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 Software Market Size Forecast by Type
10.6.1 On-premise
10.6.2 Cloud-based
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 Software Market Size Forecast by Applications
10.10.1 Individual
10.10.2 Enterprise
10.10.3 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 Software Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Machine Translation Software 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 Software Market Size Forecast by Type
11.6.1 On-premise
11.6.2 Cloud-based
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 Software Market Size Forecast by Applications
11.10.1 Individual
11.10.2 Enterprise
11.10.3 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 Software Analysis and Forecast
12.1 Introduction
12.2 Latin America Machine Translation Software 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 Software Market Size Forecast by Type
12.6.1 On-premise
12.6.2 Cloud-based
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 Software Market Size Forecast by Applications
12.10.1 Individual
12.10.2 Enterprise
12.10.3 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 Software Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Machine Translation Software 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 Software Market Size Forecast by Type
13.6.1 On-premise
13.6.2 Cloud-based
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 Software Market Size Forecast by Applications
13.10.1 Individual
13.10.2 Enterprise
13.10.3 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 Software Market: Competitive Dashboard
14.2 Global Machine Translation Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Google
14.3.2 Microsoft
14.3.3 IBM
14.3.4 Yandex
14.3.5 Amazon Web Services
14.3.6 Ludwig
14.3.7 Babylon Software
14.3.8 GrammarSoft
14.3.9 Talkao
14.3.10 IdiomaX
14.3.11 Systran
14.3.12 TripLingo
14.3.13 OpenLogos
14.3.14 Texthelp
14.3.15 ITranslate
