Machine Translation Market Size to Grow USD 1098.8 Million by 2029 With a CAGR of 12.5% | Valuates Reports

News provided by

Oct 13, 2023, 12:00 ET

BANGALORE, India, Oct. 13, 2023 /PRNewswire/ -- Machine Translation Market Is Segmented By Type ( Cloud,on Premise),by Application (B-end Customer,c-end Customer,government And Defense): Global Opportunity Analysis And Industry Forecast, 2023-2029. It Is Published In Valuates Reports Under The Category Of Foreign Language Resources

The global Machine Translation market is projected to reach USD 1098.8 million in 2029, increasing from USD 487.1 million in 2022, with a CAGR of 12.5% during the period of 2023 to 2029.

Major Factors Driving the Growth of Machine Translation Market:

Strong growth in the machine translation market has been fueled by rising worldwide connectivity and the need for multilingual communication. This expansion has been spurred by elements including the use of artificial intelligence, automation, and the demand for effective and affordable translation solutions across numerous sectors.

A crucial factor in removing language barriers and advancing multilingual communication on a worldwide scale, developments like the greater usage of machine translation and post-editing further highlight its growing relevance in the language and translation sector.

Get Free Sample: https://reports.valuates.com/request/sample/QYRE-Auto-19M6150/Global_Machine_Translation_Market

TRENDS INFLUENCING THE GROWTH OF THE MACHINE TRANSLATION MARKET

The growing need for multilingual content is one of the main factors driving the Machine Translation (MT) industry. To reach a wider audience, companies and people are increasingly attempting to translate their information into different languages. In response to the rising need for multilingual content, this trend has resulted in a boom in the adoption of MT solutions, which can quickly and affordably translate information into several languages. The growing need for multilingual content is one of the main factors driving the Machine Translation (MT) industry. To reach a wider audience, companies and people are increasingly attempting to translate their information into different languages. The use of MT solutions, which can accurately and affordably translate text into many languages, has increased as a result of this trend.

Worldwide, mobile software and applications are becoming incredibly popular. The rising demand to localize these applications for various locations would help the MT industry in 2023. Developers may access a worldwide user base by localizing user interfaces, content, and documentation to certain languages and cultures via machine translation. Additionally, international enterprises and e-commerce platforms are extending their reach. Machine translation has become an essential tool for aiding worldwide growth since these companies need effective and scalable translation solutions to engage with foreign clients and partners.

In order to efficiently provide multilingual service, businesses are integrating machine translation into their customer support systems. The necessity to serve a variety of consumer bases while improving customer happiness and experience is what is driving this trend. To simplify international company operations, machine translation is used for activities including translating papers, websites, and communication materials.

B-end clients frequently look for affordable and effective translation solutions to serve a worldwide audience. The necessity from this market (B-end clients) propels the creation of user-friendly, adaptable machine translation solutions suited to corporate requirements. These products facilitate multilingual company communication, increase market reach, and improve operational efficiency. In order to streamline international corporate operations, machine translation is used for activities including translating papers, websites, and communication materials. B-end clients frequently look for affordable and effective translation solutions to serve a worldwide audience. The necessity of this industry promotes the creation of user-friendly, adaptable machine translation solutions suited to corporate requirements. These products facilitate multilingual company communication, increase market reach, and improve operational efficiency.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-19M6150/global-machine-translation

MACHINE TRANSLATION MARKET SHARE ANALYSIS

The machine translation market has seen tremendous growth in North America. Machine translation technologies have been developed as a result of the region's many IT firms and strong focus on innovation. Due to the region's diversified linguistic terrain, there is a significant market need for localization and multilingual content in North America.

Get Regional Report:

https://reports.valuates.com/request/regional/QYRE-Auto-19M6150/Global_Machine_Translation_Market

KEY PLAYERS

Apptek
Asia Online
Cloudwords
IBM
Lighthouse IP
Lingo24
Lingotek
Lionbridge Technologies
Lucy Software and Services
Moravia

Get Customized Report:

https://reports.valuates.com/request/customisation/QYRE-Auto-19M6150/Global_Machine_Translation_Market

Buy Now for Single User + Covid-19 Impact : https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-19M61507&lic=single-user

SUBSCRIPTION

We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.

SIMILAR REPORTS

- Translation Apps Market

- The global Machine Foreign Language Translation Systems market is projected to reach USD 1071 million in 2029, increasing from USD 489.2 million in 2022, with the CAGR of 12.2% during the period of 2023 to 2029.

- Machine Translation-Based Intelligent Services Market

- The global Machine Translation Software market is projected to grow from USD 817.5 million in 2023 to USD 1627.5 million by 2029, at a Compound Annual Growth Rate (CAGR) of 12.2% during the forecast period.

- Language Translation Machine Market

- Machine-Assisted Translation (CAT) Service Market

- The global Language Translation Software & Services market is projected to grow from USD 65610 million in 2023 to USD 86130 million by 2029, at a Compound Annual Growth Rate (CAGR) of 4.6% during the forecast period.

- AI Language Translation Services Market

- Computer Assisted Translation Tool Market

- The global Computer-aided Translation Software market was valued at USD 412.8 million in 2022 and is anticipated to reach USD 1032 million by 2029, witnessing a CAGR of 16.5% during the forecast period 2023-2029

- AI Translation Market

- Online Translation Software Market

- Translation Systems Market

- The global Digital Process Automation market size is projected to reach USD 11770 Million by 2027, from USD 6451.8 Million in 2020, at a CAGR of 8.5% during 2021-2027.

- The global conversational AI market size was valued at USD 5.78 billion in 2020 and is projected to reach USD 32.62 billion by 2030, registering a Compound Annual Growth Rate (CAGR) of 20.0% from 2021 to 2030.

- Artificial Intelligence in Machine Learning Market

- The global Machine Learning market was valued at USD 21040 million in 2022 and is anticipated to reach USD 140610 million by 2029, witnessing a CAGR of 37.3% during the forecast period 2023-2029.

- The Global Natural Language Processing (NLP) market size is projected to reach USD 3081.5 million by 2028, from USD 843 million in 2021, at a CAGR of 20.1% during 2022-2028.

- The global Application Modernization Services market is projected to reach USD 50440 Million by 2028 from an estimated USD 21690 Million in 2022, at a CAGR of 15.1% during 2023 and 2028.

- On-Premise Machine Translation Market

- Cloud Machine Translation Market

- Translation Gate Market

- Professional Legal Translation Services Market

- Localization Translation Services Market

- Language Translation Device Market

- The global Simultaneous Interpretation Hardware Equipment market is projected to reach USD 487 million in 2029, increasing from USD 250 million in 2022, with the CAGR of 6.7% during the period of 2023 to 2029

- The global Translational Regenerative Medicine market was valued at USD 12230 million in 2022 and is anticipated to reach USD 30580 million by 2029, witnessing a CAGR of 13.5% during the forecast period 2023-2029.

ABOUT US:

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.

CONTACT US:

Valuates Reports
[email protected]
For U.S. Toll-Free Call 1-(315)-215-3225
For IST Call +91-8040957137
WhatsApp: +91-9945648335
Website: https://reports.valuates.com
Blog: https://valuatestrends.blogspot.com/
Pinterest: https://in.pinterest.com/valuatespins/
Twitter: https://twitter.com/valuatesreports
https://reports.valuates.com/sitemap/html/reports/956
https://reports.valuates.com/sitemap/html/reports/957
https://reports.valuates.com/sitemap/html/reports/958