Global Machine Translation Market 2024-2028

Description

List of Tables

The machine translation market is forecasted to grow by USD 1233.9 mn during 2023-2028, accelerating at a CAGR of 15.89% during the forecast period. The report on the machine translation market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing demand for content localization, the rapid globalization of businesses is generating the need for multilingual communication, and increasing adoption of voice recognition technology.

Technavio's machine translation market is segmented as below:

Market Scope
Base Year	2024
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	14.6%
CAGR	15.89%
Incremental Value	$1233.9mn

By Application

Defense
IT
Automotive
Healthcare

By Deployment

On-premises
Cloud

By Geographical Landscape

North America
Europe
APAC
South America
Middle East and Africa

This study identifies the rising use of multilingual AI as one of the prime reasons driving the machine translation market growth during the next few years. Also, the growing localization of video content and the growing adoption of mobile translation will lead to sizable demand in the market.

The report on the machine translation market covers the following areas:

Machine translation market sizing
Machine translation market forecast
Machine translation market industry analysis

The 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 market vendors that include Alphabet Inc., ARGOS TRANSLATIONS Sp. z o.o., Babylon Software Ltd., Cloudwords Inc., CSOFT International Inc., Global Lingo Ltd., Honyaku Center Inc., International Business Machines Corp., Lingotek Inc., Lingua Custodia, Lionbridge Technologies LLC, Microsoft Corp., Omniscien Technologies, Promt, SYSTRAN SA, Teleperformance SE, thebigword Group Ltd., TransPerfect Global Inc., Welocalize Inc., and RWS Holdings PLC. 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 all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.

Product Code: IRTNTR40205

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028

4 Historic Market Size

4.1 Global machine translation market 2018 - 2022
4.2 Application Segment Analysis 2018 - 2022
4.3 Deployment Segment Analysis 2018 - 2022
4.4 Geography Segment Analysis 2018 - 2022
4.5 Country Segment Analysis 2018 - 2022

5 Five Forces Analysis

5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition

6 Market Segmentation by Application

6.1 Market segments
6.2 Comparison by Application
6.3 Defense - Market size and forecast 2023-2028
6.4 IT - Market size and forecast 2023-2028
6.5 Automotive - Market size and forecast 2023-2028
6.6 Healthcare - Market size and forecast 2023-2028
6.7 Market opportunity by Application

7 Market Segmentation by Deployment

7.1 Market segments
7.2 Comparison by Deployment
7.3 On-premises - Market size and forecast 2023-2028
7.4 Cloud - Market size and forecast 2023-2028
7.5 Market opportunity by Deployment

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation
9.2 Geographic comparison
9.3 North America - Market size and forecast 2023-2028
9.4 Europe - Market size and forecast 2023-2028
9.5 APAC - Market size and forecast 2023-2028
9.6 South America - Market size and forecast 2023-2028
9.7 Middle East and Africa - Market size and forecast 2023-2028
9.8 US - Market size and forecast 2023-2028
9.9 Germany - Market size and forecast 2023-2028
9.10 Canada - Market size and forecast 2023-2028
9.11 UK - Market size and forecast 2023-2028
9.12 China - Market size and forecast 2023-2028
9.13 Market opportunity By Geographical Landscape

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered
12.2 Market positioning of vendors
12.3 Alphabet Inc.
12.4 Babylon Software Ltd.
12.5 Cloudwords Inc.
12.6 CSOFT International Inc.
12.7 Global Lingo Ltd.
12.8 Honyaku Center Inc.
12.9 International Business Machines Corp.
12.10 Lingotek Inc.
12.11 Lingua Custodia
12.12 Lionbridge Technologies LLC
12.13 Microsoft Corp.
12.14 Omniscien Technologies
12.15 RWS Holdings PLC
12.16 SYSTRAN SA
12.17 TransPerfect Global Inc.

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations