Machine Translation Industry Report: Trends, Forecast and Competitive Analysis to 2030

Machine Translation Industry Report: Trends, Forecast and Competitive Analysis to 2030

Machine Translation Industry Trends and Forecast

The the future of the global machine translation market looks promising with opportunities in the automotive, BFSI, e-commerce, electronics, healthcare, IT & telecommunications, and military & defense markets. The global machine translation market is expected to reach an estimated $1254.0 million by 2030 with a CAGR of 10.5% from 2024 to 2030. The major drivers for this market are rapid demand for the localization of marketing strategies & content among businesses, growing need for machine translation to facilitate communication, and growing usage of the internet and the growing requirement to save expenses.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Machine Translation Industry by Segment

The study includes a forecast for the global machine translation industry by technology, deployment mode, application, and region

Machine Translation Market by Technology [Shipment Analysis by Value from 2018 to 2030]:

• Statistical Machine Translation
• Rule-based Machine Translation
• Neural Machine Translation
• Hybrid Machine Translation
• Example-based Machine Translation

Machine Translation Market by Deployment Mode [Shipment Analysis by Value from 2018 to 2030]:

• On-Premises
• Cloud

Machine Translation Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Automotive
• BFSI
• E-commerce
• Electronics
• Healthcare
• IT & Telecommunications
• Military & Defense
• Others

Machine Translation Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Machine Translation Industry Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies machine translation industry companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the machine translation industry companies profiled in this report include-

• AWS
• Google
• IBM Corporation
• Microsoft Corporation
• Systran International
• Lionbridge Technologies
• Welocalize

Machine Translation Market Insights

Lucintel forecast that on premises is expected to witness highest growth over the forecast period.

Within this market, automotive will remain the largest segment.

Asia Pacific is expected to witness highest growth over the forecast period due to growing adoption of machine translation in countries like China and Japan that have large populations of non-native speakers.

Features of the Global Machine Translation Market

Market Size Estimates: Machine translation market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Machine translation market size by technology, deployment mode, application, and region in terms of value ($B).

Regional Analysis: Machine translation market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different technology, deployment mode, application, and regions for the machine translation market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the machine translation market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q.1 What is the machine translation market size?

Answer: The global machine translation market is expected to reach an estimated $1254.0 million by 2030.

Q.2 What is the growth forecast for machine translation market?

Answer: The global machine translation market is expected to grow with a CAGR of 10.5% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the machine translation market?

Answer: The major drivers for this market are rapid demand for the localization of marketing strategies & content among businesses, growing need for machine translation to facilitate communication, and growing usage of the internet and the growing requirement to save expenses.

Q4. What are the major segments for machine translation market?

Answer: The future of the machine translation market looks promising with opportunities in the automotive, BFSI, e-commerce, electronics, healthcare, IT & telecommunications, and military & defense markets.

Q5. Who are the key Machine Translation Market companies?

Answer: Some of the key machine translation industry companies are as follows:

• AWS
• Google
• IBM Corporation
• Microsoft Corporation
• Systran International
• Lionbridge Technologies
• Welocalize

Q6. Which machine translation market segment will be the largest in future?

Answer: Lucintel forecast that on premises is expected to witness highest growth over the forecast period.

Q7. In machine translation market, which region is expected to be the largest in next 5 years?

Answer: Asia Pacific is expected to witness highest growth over the forecast period due to growing adoption of machine translation in countries like China and Japan that have large populations of non-native speakers.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the machine translation market by technology (statistical machine translation, rule-based machine translation, neural machine translation, hybrid machine translation, and example-based machine translation), deployment mode (on-premise and cloud), application (automotive, BFSI, e-commerce, electronics, healthcare, IT & telecommunications, military & defense, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

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