Machine Translation Market by Application and Geography - Forecast and Analysis 2020-2024

Machine Translation Market by Application and Geography - Forecast and Analysis 2020-2024

Global Machine Translation Market: About this market

Technavio’s machine translation market analysis considers sales from the defense, IT, automotive, and healthcare. Our study also finds the sales of machine translation in APAC, Europe, MEA, North America, and South America. In 2018, the defense segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as technological advances will play a significant role in the defense segment to maintain its market position. Also, our global machine translation market report looks at factors such as increased demand for content localization, globalization of businesses, increased government spending on language services, and increasing adoption of voice search. However, open-source machine translation service tools, market fragmentation, and data privacy and security risks in online translation services may hamper the growth of the machine translation industry over the forecast period.

Global Machine Translation Market: Overview

Globalization of business

The expansion of businesses across the world has increased the need for individuals that are proficient in translation services. Business expansions have made it necessary for companies to translate their documents to comply with regional trade tariffs and laws. Companies are also focusing on expanding their customer base by localizing their services, marketing strategies, and marketing content. These factors have increased the demand for language translation and interpretation services which will lead to the expansion of the global machine translation market at a CAGR of over 19% during the forecast period.

Increase in localization of video content

The demand for video content translations is expected to increase significantly during the forecast period due to the growing consumer preference for product and service-specific videos. Corporate organizations are increasingly using machine video translation services to attract customers through visual and audio content. In addition, the rising demand for webinars and tutorials in local languages has further increased the need for translating video content. This trend is encouraging many market vendors to provide quick and efficient translation services with flexible solutions to offer high-quality video content across various languages and cultures. This development is expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global machine translation market during the forecast period 2020-2024, click here.

Competitive Landscape

With the presence of several major players, the global machine translation market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading machine translation manufacturers, that include Alphabet Inc., Asia Online Pte Ltd., Cloudwords Inc., Honyaku Center Inc., International Business Machines Corp., Lionbridge Technologies Inc., Microsoft Corp., SDL Plc, SYSTRAN SA, and TransPerfect Global Inc.

Also, the machine translation market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.


  • Executive summary
  • Scope of the report
    • Preface
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global application software market
      • Table Segments of global application software market
    • Market characteristics
      • Table Market characteristics
    • Value chain analysis
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Key offering
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2019
      • Table Market size 2019
    • Market outlook
    • Market size and forecast 2019-2024
      • Table Global market: Size and forecast 2019-2024 ($ millions)
      • Table Global market: Year-over-year growth 2020-2024 (%)
  • Five forces analysis
    • Table Five forces analysis 2019
    • Table Five forces analysis 2024
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2019
  • Market segmentation by application
    • Table Application - Market share 2019-2024 (%)
    • Comparison by application
      • Table Comparison by application
    • Defense - Market size and forecast 2019-2024
      • Table Defense - Market size and forecast 2019-2024 ($ millions)
      • Table Defense - Year-over-year growth 2020-2024 (%)
    • IT - Market size and forecast 2019-2024
      • Table IT - Market size and forecast 2019-2024 ($ millions)
      • Table IT - Year-over-year growth 2020-2024 (%)
    • Automotive - Market size and forecast 2019-2024
      • Table Automotive - Market size and forecast 2019-2024 ($ millions)
      • Table Automotive - Year-over-year growth 2020-2024 (%)
    • Healthcare - Market size and forecast 2019-2024
      • Table Healthcare - Market size and forecast 2019-2024 ($ millions)
      • Table Healthcare - Year-over-year growth 2020-2024 (%)
    • Market opportunity by application
      • Table Market opportunity by application
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2019-2024 (%)
    • Geographic comparison
      • Table Geographic comparison
    • North America - Market size and forecast 2019-2024
      • Table North America - Market size and forecast 2019-2024 ($ millions)
      • Table North America - Year-over-year growth 2020-2024 (%)
    • Europe - Market size and forecast 2019-2024
      • Table Europe - Market size and forecast 2019-2024 ($ millions)
      • Table Europe - Year-over-year growth 2020-2024 (%)
    • APAC - Market size and forecast 2019-2024
      • Table APAC - Market size and forecast 2019-2024 ($ millions)
      • Table APAC - Year-over-year growth 2020-2024 (%)
    • South America - Market size and forecast 2019-2024
      • Table South America - Market size and forecast 2019-2024 ($ millions)
      • Table Military expenditure of Latin America and Caribbean for 2012-2018 ($ bn)
      • Table South America - Year-over-year growth 2020-2024 (%)
    • MEA - Market size and forecast 2019-2024
      • Table MEA - Market size and forecast 2019-2024 ($ millions)
      • Table MEA - Year-over-year growth 2020-2024 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
    • Use of multilingual AI
    • Increase in localization of video content
    • Adoption of mobile translation
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Alphabet Inc.
      • Table Alphabet Inc. - Vendor overview
      • Table Alphabet Inc. - Business segments
      • Table Alphabet Inc. - Organizational developments
      • Table Alphabet Inc. - Geographic focus
      • Table Alphabet Inc. - Segment focus
      • Table Alphabet Inc. - Key offerings
    • Asia Online Pte Ltd.
      • Table Asia Online Pte Ltd. - Vendor overview
      • Table Asia Online Pte Ltd. - Business segments
      • Table Asia Online Pte Ltd. - Key offerings
    • Cloudwords Inc.
      • Table Cloudwords Inc. - Vendor overview
      • Table Cloudwords Inc. - Business segments
      • Table Cloudwords Inc. - Organizational developments
      • Table Cloudwords Inc. - Key offerings
    • Honyaku Center Inc.
      • Table Honyaku Center Inc. - Vendor overview
      • Table Honyaku Center Inc. - Business segments
      • Table Honyaku Center Inc. - Segment focus
      • Table Honyaku Center Inc. - Key offerings
    • International Business Machines Corp.
      • Table International Business Machines Corp. - Vendor overview
      • Table International Business Machines Corp. - Business segments
      • Table International Business Machines Corp. - Organizational developments
      • Table International Business Machines Corp. - Geographic focus
      • Table International Business Machines Corp. - Segment focus
      • Table International Business Machines Corp. - Key offerings
    • Lionbridge Technologies Inc.
      • Table Lionbridge Technologies Inc. - Vendor overview
      • Table Lionbridge Technologies Inc. - Business segments
      • Table Lionbridge Technologies Inc. - Organizational developments
      • Table Lionbridge Technologies Inc. - Key offerings
    • Microsoft Corp.
      • Table Microsoft Corp. - Vendor overview
      • Table Microsoft Corp. - Business segments
      • Table Microsoft Corp. - Organizational developments
      • Table Microsoft Corp. - Geographic focus
      • Table Microsoft Corp. - Segment focus
      • Table Microsoft Corp. - Key offerings
    • SDL Plc
      • Table SDL Plc - Vendor overview
      • Table SDL Plc - Business segments
      • Table SDL Plc - Organizational developments
      • Table SDL Plc - Geographic focus
      • Table SDL Plc - Segment focus
      • Table SDL Plc - Key offerings
    • SYSTRAN SA
      • Table SYSTRAN SA - Vendor overview
      • Table SYSTRAN SA - Business segments
      • Table SYSTRAN SA - Organizational developments
      • Table SYSTRAN SA - Key offerings
    • TransPerfect Global Inc.
      • Table TransPerfect Global Inc. - Vendor overview
      • Table TransPerfect Global Inc. - Business segments
      • Table TransPerfect Global Inc. - Organizational developments
      • Table TransPerfect Global Inc. - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
    • Definition of market positioning of vendors
      • Table Definition of market positioning of vendors
  • Explore Technavio

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