New Study about the Machine Translation Market:
The report presents a highly comprehensive and accurate research study on the global Machine Translation market. It offers PESTLE analysis, qualitative and quantitative analysis, Porter’s Five Forces analysis, and absolute dollar opportunity analysis to help players improve their business strategies. It also sheds light on critical Machine Translation Market dynamics such as trends and opportunities, drivers, restraints, and challenges to help market participants stay informed and cement a strong position in the industry. With competitive landscape analysis, the authors of the report have made a brilliant attempt to help readers understand important business tactics that leading companies use to maintain Machine Translation market sustainability.
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Global Machine Translation Market to reach USD 1483 million by 2025.
Global Machine Translation Market valued approximately USD 435 million in 2016 is anticipated to grow with a healthy growth rate of more than 14.60 % over the forecast period 2017-2025. The major factors driving the Machine Translation market are the growing volume of big data, the need for cost effective translation, and increasing online content. Moreover, globalization is raising the demand for location based content across various industry verticals such as electronics, travel, e-commerce and hospitality. However, the availability of free translation tools may limit the adoption of translation machine. The industry is witnessing a transition from human translators to Machine Translation as is an efficient tool to deliver similar linguistic conversion with significantly lower time and cost. Advances in Machine Translation technology and new implementation approaches including crowdsourcing are expected to reduce the cost of Machine translation while improving its efficiency.
The regional analysis of Global Machine Translation Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America dominated the industry in 2016, with U.S. alone accounting for over 66.0% of the regional market. The growth is characterized by presence of a large number of service providers and favorable government initiatives. Asia Pacific region is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
oMilitary & Defence
oRest of the World
Furthermore, years considered for the study are as follows:
Historical year “ 2015, 2016
Base year “ 2017
Forecast period “ 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include App Tek, Asia Online Pte Ltd, Cloudwords Inc, Lighthouse IP Group, Lingo24 Ltd., Lionbridge Technologies Inc, Lingotek Inc., Moravia IT, Pangeanic, ProMT, Raythean BBN Technologies
and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Target Audience of the Global Machine Translation Market in Market Study:
oKey Consulting Companies & Advisors
oLarge, medium-sized, and small enterprises
oValue-Added Resellers (VARs)
oThird-party knowledge providers
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Table of Contents:
Study Coverage: It includes study objectives, years considered for the research study, growth rate and Machine Translation market size of type and application segments, key manufacturers covered, product scope, and highlights of segmental analysis.
Executive Summary: In this section, the report focuses on analysis of macroscopic indicators, market issues, drivers, and trends, competitive landscape, CAGR of the global Machine Translation market, and global production. Under the global production chapter, the authors of the report have included market pricing and trends, global capacity, global production, and global revenue forecasts.
Machine Translation Market Size by Manufacturer: Here, the report concentrates on revenue and production shares of manufacturers for all the years of the forecast period. It also focuses on price by manufacturer and expansion plans and mergers and acquisitions of companies.
Production by Region: It shows how the revenue and production in the global market are distributed among different regions. Each regional market is extensively studied here on the basis of import and export, key players, revenue, and production.
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