DUBLIN--(BUSINESS WIRE)--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.
- Continuous Technological Advancements
- Combination of TM and MT Systems Leading to Fully Integrated Workflows
- Migration of Machine Translation to Cloud Services
- Emerging Demand for Content Localization
- Growing Volumes of Big Data Across the Internet
- Impact Analysis of Drivers on Market Forecast
- Threat from Free Translation Service Providers
- Lack of Quality and Accuracy
- Impact Analysis of Restraints on Market Forecast
- 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.
- TransPerfect Translations International Inc.
- Venga Global
For more information about this report visit https://www.researchandmarkets.com/research/xxd68c/2018_global?w=4