Machine Translation Market Trends 2021 | Segmentation, Outlook, Industry Report to 2027

The Machine Translation Market size is expected to grow at an annual average of 20% during 2021-2027. Machine translation software is a fully automated solution for translating or translating source content into the required target language. Machine translation software is primarily used to translate huge databases into essential language formats that were not possible by conventional methods or manually.

The following segmentation are covered in this report:

By Application

• Automotive
• BFSI
• E-Commerce
• Electronics
• Healthcare
• IT & telecommunications
• Military & defense
• Others

By Technology

• Statistical Machine Translation (SMT)
• Rule-based Machine Translation (RBMT)
• Neural machine translation
• Hybrid machine translation
• Example-based machine translation

Company Profile

• IBM Corporation
• Microsoft Corporation
• SDL PLC
• Lionbridge Technologies Inc.
• Omniscien Technologies Inc.
• Lingotek Inc.
• RWS Holdings PLC

Scope of the report

The research study analyses the Machine Translation Market industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:

Recent developments

• Market overview and growth analysis
• Import and export overview
• Volume analysis
• Current market trends and future outlook
• Market opportunistic and attractive investment segment

Geographic coverage

• North america market size and/or volume
• Latin america market size and/or volume
• Europe market size and/or volume
• Asia-pacific market size and/or volume
• Rest of the world market size and/or volume

Key Questions Answered by Machine Translation Market Report

• What was the Machine Translation Market size in 2019 and 2020; what are the estimated growth trends and market forecast (2021-2027)
• What will be the CAGR of Market during the forecast period (2021-2027)?
• Which segments (product type/applications/end-user) were most attractive for investments in 2021? How these segments are expected to grow during the forecast period (2021-2027).
• Which manufacturer/vendor/players in the Machine Translation Market was the market leader in 2020?
• Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.