2018 Global Machine Translation (MT) Market Report 2013-2023 - Emerging Demand for Content Localization is Driving the Market - ResearchAndMarkets.com

DUBLIN--()--The "Machine Translation (MT) Market by Technology (SMT, RBMT, NMT), by Deployment Type (On-Premises, Cloud), by Application, by Geography - Global Size, Share, Development, Growth, and Demand Forecast, 2013-2023" report has been added to ResearchAndMarkets.com's offering.

Geographically, the market is expected to witness the fastest growth in the Asia-Pacific (APAC) region, mainly attributed to the rapid growth of overseas businesses, lucrative customer base, growing number of high-net-worth individuals (HNWIs), rising income levels, and prevalence of several languages in the region.

SMT technology has been the largest revenue contributor in the machine translation industry and is expected to spearhead the market throughout the forecast period. Cloud computing technology helps SMT to run in an effective manner, as it offers high processing power and enhanced storage capacity to the computer. Moreover, SMT offers various benefits over other MT technologies in terms of customizability, community collaboration, and resource requirement.

Product launches have been observed as a major strategic step taken by the key vendors operating in the machine translation industry to capture a large market share. Machine translation providers are entering into strategic alliances with technology providers in order to combine their expertise and offer best-in-class translation solutions. Some of the major players operating in the market are International Business Machines Corporation (IBM), Lionbridge Technologies Inc., SDL Plc., Google Inc., SYSTRAN, TransPerfect Translations International Inc., PROMT Ltd., Microsoft Corporation, Honyaku Center Inc., and Venga Global.

Market Dynamics

Trends

  • Continuous Technological Advancements
  • Combination of TM and MT Systems Leading to Fully Integrated Workflows
  • Migration of Machine Translation to Cloud Services

Drivers

  • Emerging Demand for Content Localization
  • Growing Volumes of Big Data Across the Internet
  • Impact Analysis of Drivers on Market Forecast

Restraints

  • Threat from Free Translation Service Providers
  • Lack of Quality and Accuracy
  • Impact Analysis of Restraints on Market Forecast

Opportunities

  • Soaring Demand for Post Editing Machine Translation (PEMT) Services

Key Topics Covered

Chapter 1. Research Background

Chapter 2. Research Methodology

Chapter 3. Executive Summary

Chapter 4. Global Market Size and Forecast

Chapter 5. North America Market Size and Forecast

Chapter 6. Europe Machine Translation Market

Chapter 7. Asia-Pacific Machine Translation Market

Chapter 8. RoW Machine Translation Market

Chapter 9. Competitive Landscape

  • Google Inc.
  • Honyaku Center Inc.
  • International Business Machines Corporation (IBM)
  • Lionbridge Technologies, Inc.
  • Microsoft Corporation
  • PROMT Ltd.
  • SDL Plc.
  • SYSTRAN
  • TransPerfect Translations International Inc.
  • Venga Global

For more information about this report visit https://www.researchandmarkets.com/research/xxd68c/2018_global?w=4

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
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Related Topics: Natural Language Processing

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Natural Language Processing