Machine Translation (MT) Market Size, Share & Trends Analysis Report By Application (Automotive, Military & Defense, Electronics, IT, Healthcare), By Technology, By Region, And Segment Forecasts, 2012 - 2022

Published: May, 2018 | Pages: 94 | Publisher: Grand View Research
Industry: Technology & Media | Report Format: Electronic (PDF)

The global machine translation market size is expected to reach USD 983.3 million by 2022, according to a new study by Grand View Research, Inc., exhibiting a 14.6% CAGR during the forecast period. The reinvention of computer-aided translational tools and growth of adaptive machine translation has considerably widened the scope of the machine translation market.

Key players are increasing their focus on developing advanced MT systems to meet growing consumer needs. For instance, Lilt Inc. has launched an adaptive neural machine translation system to use real-time feedback loop and Artificial Intelligence (AI) to boost the productivity of a human translator. Moreover, the technology is expected to offer opportunities to people for communicating and accessing information in a particular language. This system goes beyond Facebook, Inc.; Apple Inc.; and Microsoft Corporation's product offerings.

Globalization has significantly contributed to addressing the need for linguistically diverse local audiences. Growing importance of businesses in emerging markets, creation of online content, and need for enabling global collaboration among employees is expected to drive market growth over the forecast period.

Need for organizations to localize their content in several languages to capture international markets is expected to bolster demand for MT systems. Adoption of such systems and instant web publishing requirements is further expected to improve user experience by developing multilingual engagement across different content types.

Growing importance of cloud computing has resulted in increasing demand for cloud-based translation tools. Moreover, delivery of Machine Translation Software-as-a-Service (MTSaaS) over secure cloud offerings accommodated in data centers is expected to offer considerable growth opportunities.

The convergence of Translation Memories (TM) and MT is expected to fully integrate workflows. TM store sentences and paragraphs that were previously translated to aid human translators, accelerating translation projects and reducing costs. Furthermore, the industry has gravitated toward the use of Bilingual Evaluation Understudy (BLEU) as a useful measurement of translation quality. BLEU is a method for automatic evaluation of MT, which is inexpensive and language independent.

Further key findings from the study suggest:

• The automotive and electronics industries are anticipated to gain substantial market share by 2022 owing to need for timely and accurate translation of large amounts of content in various application segments

• The MT market in automotive applications is expected to value around USD 140 million by 2022

• Existence of a large number of players and government initiatives supporting machine translation has impacted industry growth positively in U.S. Google Inc. and Microsoft Corporation have made SMT technology popular with their free online engines in the country

• Demand for Statistical Machine Translation (SMT) has significantly increased over the past few years, due toits effectiveness over Rule-Based Machine Translation (RBMT) in terms of time and cost

• SMT contributed to more than 65.0% of the overall MT market revenue

• Key players in the industry include IBM Corporation; SDL PLC; Lionbridge Technologies Inc.; Asia Online Pte Ltd.; and Lighthouse IP Group.

Table of Contents

Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumption
1.3. List of Data Sources

Chapter 2. Executive Summary
2.1. Machine Translation - Industry Snapshot and Key Buying Criteria, 2012 - 2022

Chapter 3. Machine Translation Industry Outlook
3.1. Market segmentation
3.2. Market size and growth prospects
3.3. Machine translation technology roadmap
3.4. Machine translation value chain analysis
3.5. Machine translation market dynamics
3.5.1. Market driver analysis
3.5.2. Market restraint analysis
3.6. Key opportunities prioritized
3.7. Industry analysis - Porter's
3.8. Machine translation - Key competitor analysis, 2014
3.9. Machine translation - PESTEL analysis

Chapter 4. Machine Translation Application Outlook
4.1. Automotive
4.1.1. Global market estimates and forecasts by region, 2012 - 2022
4.2. Military & Defense
4.2.1. Global market estimates and forecasts by region, 2012 - 2022
4.3. Electronics
4.3.1. Global market estimates and forecasts by region, 2012 - 2022
4.4. IT
4.4.1. Global market estimates and forecasts by region, 2012 - 2022
4.5. Healthcare
4.5.1. Global market estimates and forecasts by region, 2012 - 2022
4.6. Others
4.6.1. Global market estimates and forecasts by region, 2012 - 2022

Chapter 5. Machine Translation Technology Outlook
5.1. RBMT
5.1.1. Global market estimates and forecasts by region, 2012 - 2022
5.2. SMT
5.2.1. Global market estimates and forecasts by region, 2012 - 2022
5.3. Others
5.3.1. Global market estimates and forecasts by region, 2012 - 2022

Chapter 6. Machine Translation Regional Outlook
6.1. North America
6.1.1. Market estimates and forecasts by application, 2012 - 2022
6.1.2. Market estimates and forecasts by technology, 2012 - 2022
6.1.3. U.S.
6.1.3.1. Market estimates and forecasts by application, 2012 - 2022
6.1.3.2. Market estimates and forecasts by technology, 2012 - 2022
6.2. Europe
6.2.1. Market estimates and forecasts by application, 2012 - 2022
6.2.2. Market estimates and forecasts by technology, 2012 - 2022
6.3. Asia Pacific
6.3.1. Market estimates and forecasts by application, 2012 - 2022
6.3.2. Market estimates and forecasts by technology, 2012 - 2022
6.4. Latin America
6.4.1. Market estimates and forecasts by application, 2012 - 2022
6.4.2. Market estimates and forecasts by technology, 2012 - 2022
6.5. MEA
6.5.1. Market estimates and forecasts by application, 2012 - 2022
6.5.2. Market estimates and forecasts by technology, 2012 - 2022

Chapter 7. Competitive Landscape
7.1. AppTek
7.1.1. Company Overview
7.1.2. Financial Performance
7.1.3. Product Benchmarking
7.1.4. Strategic Initiatives
7.2. Asia Online Pte Ltd.
7.2.1. Company Overview
7.2.2. Financial Performance
7.2.3. Product Benchmarking
7.2.4. Strategic Initiatives
7.3. Cloudwords Inc.
7.3.1. Company Overview
7.3.2. Financial Performance
7.3.3. Product Benchmarking
7.3.4. Strategic Initiatives
7.4. IBM Corporation
7.4.1. Company Overview
7.4.2. Financial Performance
7.4.3. Product Benchmarking
7.4.4. Strategic Initiatives
7.5. Lighthouse IP Group
7.5.1. Company Overview
7.5.2. Financial Performance
7.5.3. Product Benchmarking
7.5.4. Strategic Initiatives
7.6. Lingo24 Ltd.
7.6.1. Company Overview
7.6.2. Financial Performance
7.6.3. Product Benchmarking
7.6.4. Strategic Initiatives
7.7. Lingotek Inc.
7.7.1. Company Overview
7.7.2. Financial Performance
7.7.3. Product Benchmarking
7.7.4. Strategic Initiatives
7.8. Lionbridge Technologies Inc.
7.8.1. Company Overview
7.8.2. Financial Performance
7.8.3. Product Benchmarking
7.8.4. Strategic Initiatives
7.9. Lucy Software and Services GmbH
7.9.1. Company Overview
7.9.2. Financial Performance
7.9.3. Product Benchmarking
7.9.4. Strategic Initiatives
7.10. Moravia IT
7.10.1. Company Overview
7.10.2. Financial Performance
7.10.3. Product Benchmarking
7.10.4. Strategic Initiatives
7.11. Pangeanic
7.11.1. Company Overview
7.11.2. Financial Performance
7.11.3. Product Benchmarking
7.11.4. Strategic Initiatives
7.12. ProMT
7.12.1. Company Overview
7.12.2. Financial Performance
7.12.3. Product Benchmarking
7.12.4. Strategic Initiatives
7.13. Raytheon BBN Technologies
7.13.1. Company Overview
7.13.2. Financial Performance
7.13.3. Product Benchmarking
7.13.4. Strategic Initiatives
7.14. SDL PLC
7.14.1. Company Overview
7.14.2. Financial Performance
7.14.3. Product Benchmarking
7.14.4. Strategic Initiatives
7.15. Smart Communications
7.15.1. Company Overview
7.15.2. Financial Performance
7.15.3. Product Benchmarking
7.15.4. Strategic Initiatives
7.16. Systran International
7.16.1. Company Overview
7.16.2. Financial Performance
7.16.3. Product Benchmarking
7.16.4. Strategic Initiatives
7.17. Welocalize Inc.
7.17.1. Company Overview
7.17.2. Financial Performance
7.17.3. Product Benchmarking
7.17.4. Strategic Initiatives

List of Tables

TABLE 1 Machine Translation - Industry Snapshot & Key Buying Criteria, 2012 - 2022
TABLE 2 Global machine translation market, 2012 - 2022 (USD Million)
TABLE 3 Global machine translation market by region, 2012 - 2022 (USD Million)
TABLE 4 Global machine translation market by application, 2012 - 2022 (USD Million)
TABLE 5 Global machine translation market by technology, 2012 - 2022 (USD Million)
TABLE 6 Technology evolution
TABLE 7 Solutions offered by market players
TABLE 8 Machine translation - Key market driver impact
TABLE 9 Machine translation - Key market restraint impact
TABLE 10 Key machine translation software providers, 2014
TABLE 11 Key machine translation service providers, 2014
TABLE 12 Key strategic initiatives
TABLE 13 Global machine translation demand in automotive 2012 - 2022 (USD Million)
TABLE 14 Global machine translation demand in automotive by region 2012 - 2022 (USD Million)
TABLE 15 Global machine translation demand in military & defense 2012 - 2022 (USD Million)
TABLE 16 Global machine translation demand in military & defense by region 2012 - 2022 (USD Million)
TABLE 17 Global machine translation demand in electronics 2012 - 2022 (USD Million)
TABLE 18 Global machine translation demand in electronics by region 2012 - 2022 (USD Million)
TABLE 19 Global machine translation demand in IT 2012 - 2022 (USD Million)
TABLE 20 Global machine translation demand in IT by region 2012 - 2022 (USD Million)
TABLE 21 Global machine translation demand in healthcare 2012 - 2022 (USD Million)
TABLE 22 Global machine translation demand in healthcare by region 2012 - 2022 (USD Million)
TABLE 23 Global machine translation demand in other applications 2012 - 2022 (USD Million)
TABLE 24 Global machine translation demand in other applications by region 2012 - 2022 (USD Million)
TABLE 25 Global RBMT demand 2012 - 2022 (USD Million)
TABLE 26 Global RBMT demand by region 2012 - 2022 (USD Million)
TABLE 27 Global SMT demand 2012 - 2022 (USD Million)
TABLE 28 Global SMT demand by region 2012 - 2022 (USD Million)
TABLE 29 Global other technology demand 2012 - 2022 (USD Million)
TABLE 30 Global other technology demand by region 2012 - 2022 (USD Million)
TABLE 31 North America machine translation market by application 2012 - 2022 (USD Million)
TABLE 32 North America machine translation market by technology 2012 - 2022 (USD Million)
TABLE 33 U.S. machine translation market by application 2012 - 2022 (USD Million)
TABLE 34 U.S. machine translation market by technology 2012 - 2022 (USD Million)
TABLE 35 Europe machine translation market by application 2012 - 2022 (USD Million)
TABLE 36 Europe machine translation market by technology 2012 - 2022 (USD Million)
TABLE 37 Asia Pacific machine translation market by application 2012 - 2022 (USD Million)
TABLE 38 Asia Pacific machine translation market by technology 2012 - 2022 (USD Million)
TABLE 39 Latin America machine translation market by application 2012 - 2022 (USD Million)
TABLE 40 Latin America machine translation market by technology 2012 - 2022 (USD Million)
TABLE 41 MEA machine translation market by application 2012 - 2022 (USD Million)
TABLE 42 MEA machine translation market by technology 2012 - 2022 (USD Million)

List of Figures

FIG. 1 Machine translation market segmentation
FIG. 2 Global machine translation market, 2012 - 2022 (USD Million)
FIG. 3 Machine translation value chain analysis
FIG. 4 Machine translation market dynamics
FIG. 5 Internet users by region, 2013
FIG. 6 Key opportunities - Prioritized
FIG. 7 Machine translation - Porter's Analysis
FIG. 8 Machine translation - PESTEL Analysis
FIG. 9 Machine translation market by application, 2014 & 2022
FIG. 10 Global machine translation demand in automotive 2012 - 2022 (USD Million)
FIG. 11 Global machine translation demand in military & defense 2012 - 2022 (USD Million)
FIG. 12 Global machine translation demand in electronics 2012 - 2022 (USD Million)
FIG. 13 Global machine translation demand in IT 2012 - 2022 (USD Million)
FIG. 14 Global machine translation demand in healthcare 2012 - 2022 (USD Million)
FIG. 15 Global machine translation demand in other applications 2012 - 2022 (USD Million)
FIG. 16 Machine translation market by technology, 2014 & 2022
FIG. 17 Global RBMT demand 2012 - 2022 (USD Million)
FIG. 18 Global SMT demand 2012 - 2022 (USD Million)
FIG. 19 Global other machine translation technology demand 2012 - 2022 (USD Million)
FIG. 20 Machine translation market share by region, 2014 & 2022
FIG. 21 North America machine translation market by application 2012 - 2022 (USD Million)
FIG. 22 North America machine translation market by technology 2012 - 2022 (USD Million)
FIG. 23 U.S. machine translation market by application 2012 - 2022 (USD Million)
FIG. 24 U.S. machine translation market by technology 2012 - 2022 (USD Million)
FIG. 25 Europe machine translation market by application 2012 - 2022 (USD Million)
FIG. 26 Europe machine translation market by technology 2012 - 2022 (USD Million)
FIG. 27 Asia Pacific machine translation market by application 2012 - 2022 (USD Million)
FIG. 28 Asia Pacific machine translation market by technology 2012 - 2022 (USD Million)
FIG. 29 Latin America machine translation market by application 2012 - 2022 (USD Million)
FIG. 30 Latin America machine translation market by technology 2012 - 2022 (USD Million)
FIG. 31 MEA machine translation market by application 2012 - 2022 (USD Million)
FIG. 32 MEA machine translation market by technology 2012 - 2022 (USD Million)