Global Machine Translation (MT) System Market is expected to grow at a CAGR of around 16.5% during the forecast period, from 2021 to 2030. The market is driven by factors such as increasing demand for machine translation systems in various industries and growing need for multilingual content.
The global machine translation (MT) system market is segmented on the basis of type, application, and region. Based on type, the market can be classified into statistical machine translation (SMT), rule-based machine translation (RBMT), hybrid machine translation, and neural machine translation. SMT accounted for the largest share in 2018 owing to its high accuracy level and low cost of implementation as compared to other types of MT systems. RBMT accounted for a significant share in 2018 owing to its ability to translate languages with complex grammar rules such as Chinese or Arabic languages which are not supported by SMT or hybrid MT systems. Hybrid MT system has been gaining traction due to its ability to combine both rule-based and statistical approaches which helps it overcome limitations associated with either approach alone while neural MT system has been gaining traction due to its ability in translating texts that are written using different scripts like Japanese or Korean which cannot be translated using traditional methods like SMT or RBMT based approaches alone.
Based on application, the global market can be classified into automotive industry, military & defense industry, electronics industry, healthcare industry; automotive industry accounted for the largest share in 2018 owing mainly due increased demand from OEMs across various regions including North America and Europe; military & defense industry accounted for a significant share in 2018 owing mainly due increased demand from governments across various regions including North America and Europe; electronics industry accounted for a significant share in 2018 owing mainly due increased demand from OEMs across various regions including Asia Pacific; healthcare sector accounted primarily contributed towards growth during 2017-2018 period but is expected decline over next five years primarily because of increasing adoption of AI technologies within this sector coupled with decreasing need for human translators who are replaced by AI technologies within this sector.
Some Of The Growth Factors Of This Market:
- Machine translation is a process of translating text from one language to another using a computer.
- The machine translation system market is fragmented in nature with no single vendor dominating the market share, which provides an opportunity for new vendors to enter this space and capture a significant share in the future.
- The machine translation system market has been witnessing high growth rates due to increased adoption by small and medium enterprises (SMEs) as they are more cost-effective than human translators or interpreters, which helps them save on costs associated with hiring human translators or interpreters for their business operations across different countries/regions.
- Increasing demand for multilingual content and globalization of businesses are some key factors driving the growth of this market.
Industry Growth Insights published a new data on “Machine Translation(MT) System Market”. The research report is titled “Machine Translation(MT) System Market research by Types (Statistical Machine Translation (SMT), Rule-based Machine Translation (RBMT), Hybrid Machine Translation, Neural Machine Translation), By Applications (Automotive, Military & Defense, Electronics, Healthcare, Others), By Players/Companies AppTek, Asia Online Pte Ltd., Cloudwords Inc., IBM Corporation, Lighthouse IP Group, Lingo24 Ltd., Lingotek Inc., Lionbridge Technologies Inc., Lucy Software and Services GmbH, Moravia IT, Pangeanic, ProMT, Raytheon BBN Technologies, SDL PLC, Smart Communications, Systran International, Welocalize Inc.”.
Scope Of The Report
Report Attributes
Report Details
Report Title
Machine Translation(MT) System Market Research Report
By Type
Statistical Machine Translation (SMT), Rule-based Machine Translation (RBMT), Hybrid Machine Translation, Neural Machine Translation
By Application
Automotive, Military & Defense, Electronics, Healthcare, Others
By Companies
AppTek, Asia Online Pte Ltd., Cloudwords Inc., IBM Corporation, Lighthouse IP Group, Lingo24 Ltd., Lingotek Inc., Lionbridge Technologies Inc., Lucy Software and Services GmbH, Moravia IT, Pangeanic, ProMT, Raytheon BBN Technologies, SDL PLC, Smart Communications, Systran International, Welocalize Inc.
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
236
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
 System Industry Outlook.svg)
Global Machine Translation(MT) System Market Report Segments:
The global Machine Translation(MT) System market is segmented on the basis of:
Types
Statistical Machine Translation (SMT), Rule-based Machine Translation (RBMT), Hybrid Machine Translation, Neural Machine Translation
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, 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 Pte Ltd.
- Cloudwords Inc.
- IBM Corporation
- Lighthouse IP Group
- Lingo24 Ltd.
- Lingotek Inc.
- Lionbridge Technologies Inc.
- Lucy Software and Services GmbH
- Moravia IT
- Pangeanic
- ProMT
- Raytheon BBN Technologies
- SDL PLC
- Smart Communications
- Systran International
- Welocalize Inc.
 System Market Overview.svg)
Highlights of The Machine Translation(MT) System 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:
- Statistical Machine Translation (SMT)
- Rule-based Machine Translation (RBMT)
- Hybrid Machine Translation
- Neural Machine Translation
- By Application:
- Automotive
- Military & Defense
- Electronics
- 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(MT) System 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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- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
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 System Market Statistics.svg)
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(MT) system is a computer program that performs automatic translation of text from one language to another.
Some of the major companies in the machine translation(mt) system market are AppTek, Asia Online Pte Ltd., Cloudwords Inc., IBM Corporation, Lighthouse IP Group, Lingo24 Ltd., Lingotek Inc., Lionbridge Technologies Inc., Lucy Software and Services GmbH, Moravia IT, Pangeanic, ProMT, Raytheon BBN Technologies, SDL PLC, Smart Communications, Systran International, Welocalize Inc..
The machine translation(mt) system market is expected to register a CAGR of 16.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Machine Translation(MT) System Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Machine Translation(MT) System Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Machine Translation(MT) System Market - Supply Chain
4.5. Global Machine Translation(MT) System Market Forecast
4.5.1. Machine Translation(MT) System Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Machine Translation(MT) System Market Size (000 Units) and Y-o-Y Growth
4.5.3. Machine Translation(MT) System Market Absolute $ Opportunity
5. Global Machine Translation(MT) System Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Machine Translation(MT) System Market Size and Volume Forecast by Type
5.3.1. Statistical Machine Translation (SMT)
5.3.2. Rule-based Machine Translation (RBMT)
5.3.3. Hybrid Machine Translation
5.3.4. Neural Machine Translation
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Machine Translation(MT) System Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Machine Translation(MT) System Market Size and Volume Forecast by Application
6.3.1. Automotive
6.3.2. Military & Defense
6.3.3. Electronics
6.3.4. Healthcare
6.3.5. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Machine Translation(MT) System Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Machine Translation(MT) System Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Machine Translation(MT) System Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Machine Translation(MT) System Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Machine Translation(MT) System Demand Share Forecast, 2019-2026
9. North America Machine Translation(MT) System Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Machine Translation(MT) System Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Machine Translation(MT) System Market Size and Volume Forecast by Application
9.4.1. Automotive
9.4.2. Military & Defense
9.4.3. Electronics
9.4.4. Healthcare
9.4.5. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Machine Translation(MT) System Market Size and Volume Forecast by Type
9.7.1. Statistical Machine Translation (SMT)
9.7.2. Rule-based Machine Translation (RBMT)
9.7.3. Hybrid Machine Translation
9.7.4. Neural Machine Translation
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Machine Translation(MT) System Demand Share Forecast, 2019-2026
10. Latin America Machine Translation(MT) System Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Machine Translation(MT) System Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Machine Translation(MT) System Market Size and Volume Forecast by Application
10.4.1. Automotive
10.4.2. Military & Defense
10.4.3. Electronics
10.4.4. Healthcare
10.4.5. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Machine Translation(MT) System Market Size and Volume Forecast by Type
10.7.1. Statistical Machine Translation (SMT)
10.7.2. Rule-based Machine Translation (RBMT)
10.7.3. Hybrid Machine Translation
10.7.4. Neural Machine Translation
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Machine Translation(MT) System Demand Share Forecast, 2019-2026
11. Europe Machine Translation(MT) System Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Machine Translation(MT) System Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Machine Translation(MT) System Market Size and Volume Forecast by Application
11.4.1. Automotive
11.4.2. Military & Defense
11.4.3. Electronics
11.4.4. Healthcare
11.4.5. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Machine Translation(MT) System Market Size and Volume Forecast by Type
11.7.1. Statistical Machine Translation (SMT)
11.7.2. Rule-base Machine Translation (RBMT)
11.7.3. Hybrid Machine Translation
11.7.4. Neural Machine Translation
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Machine Translation(MT) System Demand Share, 2019-2026
12. Asia Pacific Machine Translation(MT) System Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Machine Translation(MT) System Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Machine Translation(MT) System Market Size and Volume Forecast by Application
12.4.1. Automotive
12.4.2. Military & Defense
12.4.3. Electronics
12.4.4. Healthcare
12.4.5. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Machine Translation(MT) System Market Size and Volume Forecast by Type
12.7.1. Statistical Machine Translation (SMT)
12.7.2. Rule-based Machine Translation (RBMT)
12.7.3. Hybrid Machine Translation
12.7.4. Neural Machine Translation
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Machine Translation(MT) System Demand Share, 2019-2026
13. Middle East & Africa Machine Translation(MT) System Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Machine Translation(MT) System Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Machine Translation(MT) System Market Size and Volume Forecast by Application
13.4.1. Automotive
13.4.2. Military & Defense
13.4.3. Electronics
13.4.4. Healthcare
13.4.5. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Machine Translation(MT) System Market Size and Volume Forecast by Type
13.7.1. Statistical Machine Translation (SMT)
13.7.2. Rule-based Machine Translation (RBMT)
13.7.3. Hybrid Machine Translation
13.7.4. Neural Machine Translation
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Machine Translation(MT) System Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Machine Translation(MT) System Market: Market Share Analysis
14.2. Machine Translation(MT) System Distributors and Customers
14.3. Machine Translation(MT) System Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. AppTek
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Asia Online Pte Ltd.
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Cloudwords Inc.
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. IBM Corporation
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Lighthouse IP Group
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Lingo24 Ltd.
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Lingotek Inc.
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Lionbridge Technologies Inc.
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Lucy Software and Services GmbH
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Moravia IT
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Pangeanic
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. ProMT
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Raytheon BBN Technologies
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. SDL PLC
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Smart Communications
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Systran International
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Welocalize Inc.
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
