Press release
Machine Translation Market – Research Report Released with Growth, Latest Trends & Forecasts 2017-2024
Automotive applications in the machine translation market will witness significant growth owing to the growing usage of the technology in efficiently translating how-to manuals, technical documentation, motor part catalogs, and automotive websites. TIt aims at providing cost effective localization services for the automotive industries.
"Global Machine Translation Market is expected to grow at a CAGR of over 15% to exceed USD 1.5 billion by 2024. Technological advancements have led to development of several innovative translation technologies which are providing minimal grammatical errors and consistency. Support from governmental organizations and existence of regulations such as EN 15038 standard is driving the machine translation market growth. The industry is mainly driven by the increasing demand for automated translations to remove repetitive tasks and the rising need for localization to help serve the customers in an enhanced manner.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/159
Rising demand from several organizations to introduce a profitable translation system in their business processes is expected to drive the implementation rate of machine translation technology. Primarily, only large organizations were capable to integrate these services owing to the excessive cost related to the offering, however with recent developments in the technology it has made the availability of robotized translation services available to an entire range of SMEs or large enterprises.
Lack of accuracy and quality in translation of several documents such as aviation manuals, medical equipment, and legal document that require 100% accuracy may result in money wastage and irreparable damage to the company’s image. In such cases, human translators are preferred over machine translators to maintain accuracy, thereby restraining the adoption of machine translation technology.
Statistical machine translation (SMT) technology is anticipated to have a high market share over the forecast timespan. Growing need for cost efficiency, and rising amount of big data across the internet, are some other factors which are driving the machine translation market growth. Cloud computing technology is aiding the SMT technology to run in an effective manner, and is offering high processing power with enhanced storage capacity.
The U.S. machine translation market is driven by the existence of major service providers such as Google and Microsoft. The U.S. is unceasingly increasing the investments for implementing the technology across applications such as healthcare and military & defense. For instance, in the military & defense industry the country is deploying Machine Foreign Language Translation System (MFLTS) to offer soldiers with machine translations via text and speech which is projected to enhance the machine translation market growth.
Industry players operating in the machine translation market include Google, IBM Lionbridge Technologies Inc., Systran International, Microsoft and Moravia IT. Vendors are facing high competition due to the growing number of players offering parallel technologies to the end-users. To gain market share and curb the competition, they are investing in R&D for product and technology development.
"
Browse key industry insights spread across 120 pages with 92 market data tables & 11 figures & charts from the report, “Machine Translation Market Size By Technology (SMT, RBMT), By Application (Automotive, Electronics, IT, Military & Defense, Healthcare), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, China, India, Japan, Brazil, Mexico), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/machine-translation-market-size
Glimpse of Table of Content (ToC)
Chapter 3 Machine Translation Industry Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2012- 2024
3.3 Industry ecosystem analysis
3.4 Technology & innovation landscape
3.4.1 Automated translation
3.4.2 Smart automated translation
3.4.3 Raw machine translation
3.4.4 Fully Automated Usable Translations (FAUT)
3.4.5 Rule based machine translation
3.4.6 Statistical machine translation technology
3.5 Post Editing Machine Translation (PEMT)
3.5.1 Light post-editing
3.5.2 Full post-editing
3.5.3 Post-editing market size, 2014 - 2024
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Emerging demand for content localization
3.6.1.2 Increasing need for cost efficiency and high speed translation
3.6.2 Industry pitfalls and challenges
3.6.2.1 Lack of quality and accuracy
3.7 Growth potential analysis
3.8 Porter’s analysis
3.9 Company market share analysis, 2016
3.10 PESTEL analysis
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
"Global Machine Translation Market is expected to grow at a CAGR of over 15% to exceed USD 1.5 billion by 2024. Technological advancements have led to development of several innovative translation technologies which are providing minimal grammatical errors and consistency. Support from governmental organizations and existence of regulations such as EN 15038 standard is driving the machine translation market growth. The industry is mainly driven by the increasing demand for automated translations to remove repetitive tasks and the rising need for localization to help serve the customers in an enhanced manner.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/159
Rising demand from several organizations to introduce a profitable translation system in their business processes is expected to drive the implementation rate of machine translation technology. Primarily, only large organizations were capable to integrate these services owing to the excessive cost related to the offering, however with recent developments in the technology it has made the availability of robotized translation services available to an entire range of SMEs or large enterprises.
Lack of accuracy and quality in translation of several documents such as aviation manuals, medical equipment, and legal document that require 100% accuracy may result in money wastage and irreparable damage to the company’s image. In such cases, human translators are preferred over machine translators to maintain accuracy, thereby restraining the adoption of machine translation technology.
Statistical machine translation (SMT) technology is anticipated to have a high market share over the forecast timespan. Growing need for cost efficiency, and rising amount of big data across the internet, are some other factors which are driving the machine translation market growth. Cloud computing technology is aiding the SMT technology to run in an effective manner, and is offering high processing power with enhanced storage capacity.
The U.S. machine translation market is driven by the existence of major service providers such as Google and Microsoft. The U.S. is unceasingly increasing the investments for implementing the technology across applications such as healthcare and military & defense. For instance, in the military & defense industry the country is deploying Machine Foreign Language Translation System (MFLTS) to offer soldiers with machine translations via text and speech which is projected to enhance the machine translation market growth.
Industry players operating in the machine translation market include Google, IBM Lionbridge Technologies Inc., Systran International, Microsoft and Moravia IT. Vendors are facing high competition due to the growing number of players offering parallel technologies to the end-users. To gain market share and curb the competition, they are investing in R&D for product and technology development.
"
Browse key industry insights spread across 120 pages with 92 market data tables & 11 figures & charts from the report, “Machine Translation Market Size By Technology (SMT, RBMT), By Application (Automotive, Electronics, IT, Military & Defense, Healthcare), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, China, India, Japan, Brazil, Mexico), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/machine-translation-market-size
Glimpse of Table of Content (ToC)
Chapter 3 Machine Translation Industry Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2012- 2024
3.3 Industry ecosystem analysis
3.4 Technology & innovation landscape
3.4.1 Automated translation
3.4.2 Smart automated translation
3.4.3 Raw machine translation
3.4.4 Fully Automated Usable Translations (FAUT)
3.4.5 Rule based machine translation
3.4.6 Statistical machine translation technology
3.5 Post Editing Machine Translation (PEMT)
3.5.1 Light post-editing
3.5.2 Full post-editing
3.5.3 Post-editing market size, 2014 - 2024
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Emerging demand for content localization
3.6.1.2 Increasing need for cost efficiency and high speed translation
3.6.2 Industry pitfalls and challenges
3.6.2.1 Lack of quality and accuracy
3.7 Growth potential analysis
3.8 Porter’s analysis
3.9 Company market share analysis, 2016
3.10 PESTEL analysis
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
