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Global Machine Translation Market to grow at a CAGR of +19% during forecast period 2018-2023

Global Machine Translation Market to grow at a CAGR of +19% during forecast period 2018-2023. The major factors driving the 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.
Published 06 July 2018
Global Machine Translation Market to grow at a CAGR of +19% during forecast period 2018-2023. The major factors driving the 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 machine translation industry is witnessing significant growth as a result of the growing demand for content localization. Companies are finding more and more reasons to localize their products, applications, and websites. Companies, worldwide, are recognizing their potential to address the market needs and therefore striving towards meeting customer demands outside their local market. Localization aids them to communicate with the target markets in their language and integrate industry-specific aspects with their culture and develop a local appeal.
 
Key Players:
AppTek, Asia Online, Cloudwords, IBM, Lighthouse IP Group, Lingo24, Lingotek, Lionbridge Technologies, Lucy Software and Services, Moravia IT, Pangeanic, ProMT, Raytheon BBN Technologies, SDL, Smart Communications, Systran International, Welocalize
 
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This report presents a 360-degree overview of the competitive scenario of the Global Machine Translation market. The report includes massive data relating to the recent product and technological developments observed in the market, complete with an analysis of the impact of these advancements on the market’s future development. The research report analyzes the global Machine Translation market in a detailed manner by explaining the key aspects of the market that are expected to have a quantifiable influence on its developmental prospects over the forecast period.

This study estimates the factors that are boosting the development of the global Machine Translation market, on the basis of key principles segments such as end-users, application, product, technology, and region are surveyed comprehensively. A thorough examination has been done in this report to bring about the share and position of global Machine Translation market. In the report, a complete analysis of the growth revenue is offered. 

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Analysis tools such as Porter’s five forces analysis and SWOT analysis have also been utilized for analyzing the market data. The major tactics adopted by the well-established competitors for a better penetration in the Global Machine Translation Market also form a key division of this study. These approaches can be applied by the imminent vendors for a better infiltration in the market. While the demand is expected to remain high in developed nations, over the forecast period emerging nations will offer lucrative opportunities as well.

Table of Contents:
Global Machine Translation Market Research Report 2018-2023
Chapter 1 Machine Translation Market Overview
Chapter 2 Global Economic Impact
Chapter 3 Competition by Manufacturers
Chapter 4 Production, Revenue (Value) by Region (2018-2023)
Chapter 5 Supply (Production), Consumption, Export, Import by Regions (2018-2023)
Chapter 6 Production, Revenue (Value), Price Trend by Type
Chapter 7 Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Machine Translation Market Forecast (2018-2023)
Chapter 13 Appendix

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