Global Machine Translation Market 2015-2019 - Rapidly Increasing Volume of Content with IBM, Lionbridge Technologies & SDL International Dominating

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Apr 08, 2015, 11:04 ET

DUBLIN, Apr. 08, 2015 /PRNewswire/ --Research and Markets

(http://www.researchandmarkets.com/research/cgm88j/global_machine) has announced the addition of the "Global Machine Translation Market 2015-2019" report to their offering.

The Global Machine Translation market to grow at a CAGR of 23.53% over the period 2014-2019

Machine translation (MT) is the translation of words by a computer from one language to another. It is one of the major sub-fields of computational linguistics, and deals with statistical or rule-based modeling of natural language. It enables speedy translation of documents and content. It is a cost-effective method employed by several companies to create multilingual content for a global website.

This report covers the present scenario and the growth prospects of the Global Machine Translation market during the period 2015-2019. For ascertaining the market size and vendor share, the report considers revenue obtained from the sales of machine translation services and products.

One of the major trends emerging in the market is the integration of the translation process in the project plan. Many companies with a global presence do not have a dedicated multilingual website to reach out to every region. This might hinder their growth as several users worldwide might be proficient only in their native languages.

According to the report, the volume of business content that needs to be translated has increased to a great extent because of rapidly growing industries. Hence, machine translation has become imperative to make content available in regional languages for users worldwide.

Further, the report states that the dominance of human translators worldwide is a major challenge to the growth of the market. End-users still prefer human translation over machine translation, and this trend is expected to continue during the forecast period of 2015-2019.

Key Vendors