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*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Machine Translation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global machine translation market grew at a CAGR of around 14% during 2015-2020. Machine translation (MT) refers to a sub-field of computational linguistics that translates source content into target languages. It is a fully automated software, which allows customization and enhances the overall output by limiting the scope of permissible substitutions. It is useful in domains wherein formal or formulaic language is employed. MT can work without human intervention to translate considerable amounts of information that cannot be translated conventionally. At present, the growth of adaptive machine translation, along with the reinvention of computer-aided translational tools, is offering lucrative opportunities to leading players in the industry.

The rising popularity of cloud-based applications represents one of the key factors strengthening the growth of the market. Cloud technology provides access to different services via cloud servers, thereby eliminating the need to invest in in-house hardware development or installations. Moreover, the increasing requirement of organizations to localize their content in different languages and capture international markets is positively influencing the sales of MT solutions across the globe. Furthermore, key players are focusing on the development of advanced MT solutions to expand their product portfolio. For instance, Lilt Inc., an Artificial Intelligence (AI) powered language service provider, recently launched an adaptive neural machine translation system to utilize a real-time feedback loop and enhance the productivity of a human translator. Besides this, machine translation services are being developed to disseminate healthcare information regarding the ongoing coronavirus disease (COVID-19) pandemic in various regional languages. Looking forward, IMARC Group expects the global machine translation market to exhibit strong growth during the next five years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global machine translation market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, technology type, deployment type and application.

Breakup by Technology Type:

  • Statistical Machine Translation (SMT)
  • Rule-Based Machine Translation (RBMT)
  • Neural Machine Translation
  • Others
     

Breakup by Deployment Type:

  • On-Premises
  • Cloud-Based
     

Breakup by Application:

  • BFSI
  • Automotive
  • Electronics
  • Healthcare
  • IT and Telecommunications
  • Military and Defense
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Applications Technology Inc., Asia Online Pte Ltd., Cloudwords Inc., International Business Machines Corporation, Lionbridge Technologies Inc., Pangeanic, Raytheon Technologies Corporation, SDL Plc (RWS Holdings Plc), Smart Communications Inc. (PLDT Inc.), Systran and Welocalize Inc.

Key Questions Answered in This Report:

  • How has the global machine translation market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global machine translation market?
  • What are the key regional markets?
  • What is the breakup of the market based on the technology type?
  • What is the breakup of the market based on the deployment type?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global machine translation market and who are the key players?
  • What is the degree of competition in the industry?

1   Preface
2   Scope and Methodology

    2.1   Objectives of the Study
    2.2   Stakeholders
    2.3   Data Sources
        2.3.1   Primary Sources
        2.3.2   Secondary Sources
    2.4   Market Estimation
        2.4.1   Bottom-Up Approach
        2.4.2   Top-Down Approach
    2.5   Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1   Overview
    4.2   Key Industry Trends
5   Global Machine Translation Market
    5.1   Market Overview
    5.2   Market Performance
    5.3   Impact of COVID-19
    5.4   Market Forecast
6    Market Breakup by Technology Type
     6.1   Statistical Machine Translation (SMT)
        6.1.1  Market Trends
        6.1.2  Market Forecast
     6.2   Rule-Based Machine Translation (RBMT)
        6.2.1  Market Trends
        6.2.2  Market Forecast
     6.3   Neural Machine Translation
        6.3.1  Market Trends
        6.3.2  Market Forecast
     6.4   Others
        6.4.1  Market Trends
        6.4.2  Market Forecast
7    Market Breakup by Deployment Type
     7.1   On-Premises
        7.1.1  Market Trends
        7.1.2  Market Forecast
     7.2   Cloud-Based
        7.2.1  Market Trends
        7.2.2  Market Forecast
8    Market Breakup by Application
     8.1   BFSI
        8.1.1  Market Trends
        8.1.2  Market Forecast
     8.2   Automotive
        8.2.1  Market Trends
        8.2.2  Market Forecast
     8.3   Electronics
        8.3.1  Market Trends
        8.3.2  Market Forecast
     8.4   Healthcare
        8.4.1  Market Trends
        8.4.2  Market Forecast
     8.5   IT and Telecommunications
        8.5.1  Market Trends
        8.5.2  Market Forecast
     8.6   Military and Defense
        8.6.1  Market Trends
        8.6.2  Market Forecast
     8.7   Others
        8.7.1  Market Trends
        8.7.2  Market Forecast
9    Market Breakup by Region
     9.1   North America
          9.1.1   United States
               9.1.1.1  Market Trends
               9.1.1.2  Market Forecast
          9.1.2   Canada
               9.1.2.1  Market Trends
               9.1.2.2  Market Forecast
     9.2   Asia-Pacific
          9.2.1   China
               9.2.1.1  Market Trends
               9.2.1.2  Market Forecast
          9.2.2   Japan
               9.2.2.1  Market Trends
               9.2.2.2  Market Forecast
          9.2.3   India
               9.2.3.1  Market Trends
               9.2.3.2  Market Forecast
          9.2.4   South Korea
               9.2.4.1  Market Trends
               9.2.4.2  Market Forecast
          9.2.5   Australia
               9.2.5.1  Market Trends
               9.2.5.2  Market Forecast
          9.2.6   Indonesia
               9.2.6.1  Market Trends
               9.2.6.2  Market Forecast
          9.2.7   Others
               9.2.7.1  Market Trends
               9.2.7.2  Market Forecast
     9.3   Europe
          9.3.1   Germany
               9.3.1.1  Market Trends
               9.3.1.2  Market Forecast
          9.3.2   France
               9.3.2.1  Market Trends
               9.3.2.2  Market Forecast
          9.3.3   United Kingdom
               9.3.3.1  Market Trends
               9.3.3.2  Market Forecast
          9.3.4   Italy
               9.3.4.1  Market Trends
               9.3.4.2  Market Forecast
          9.3.5   Spain
               9.3.5.1  Market Trends
               9.3.5.2  Market Forecast
          9.3.6   Russia
               9.3.6.1  Market Trends
               9.3.6.2  Market Forecast
          9.3.7   Others
               9.3.7.1  Market Trends
               9.3.7.2  Market Forecast
     9.4   Latin America
          9.4.1   Brazil
               9.4.1.1  Market Trends
               9.4.1.2  Market Forecast
          9.4.2   Mexico
               9.4.2.1  Market Trends
               9.4.2.2  Market Forecast
          9.4.3   Others
               9.4.3.1  Market Trends
               9.4.3.2  Market Forecast
     9.5   Middle East and Africa
          9.5.1  Market Trends
          9.5.2  Market Breakup by Country
          9.5.3  Market Forecast
10    SWOT Analysis
    10.1   Overview
    10.2   Strengths
    10.3   Weaknesses
    10.4   Opportunities
    10.5   Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis

    12.1   Overview
    12.2   Bargaining Power of Buyers
    12.3   Bargaining Power of Suppliers
    12.4   Degree of Competition
    12.5   Threat of New Entrants
    12.6   Threat of Substitutes
13    Price Analysis
14    Competitive Landscape

    14.1   Market Structure
    14.2   Key Players
    14.3   Profiles of Key Players
         14.3.1   Applications Technology Inc.
              14.3.1.1   Company Overview
              14.3.1.2   Product Portfolio
         14.3.2   Asia Online Pte Ltd.
              14.3.2.1   Company Overview
              14.3.2.2   Product Portfolio
         14.3.3   Cloudwords Inc.
              14.3.3.1   Company Overview
              14.3.3.2   Product Portfolio
         14.3.4   International Business Machines Corporation
              14.3.4.1   Company Overview
              14.3.4.2   Product Portfolio
              14.3.4.3   Financials
              14.3.4.4   SWOT Analysis
         14.3.5   Lionbridge Technologies Inc.
              14.3.5.1   Company Overview
              14.3.5.2   Product Portfolio
         14.3.6   Pangeanic
              14.3.6.1   Company Overview
              14.3.6.2   Product Portfolio
              14.3.6.3   Financials
         14.3.7   Raytheon Technologies Corporation
              14.3.7.1   Company Overview
              14.3.7.2   Product Portfolio
              14.3.7.3   Financials
              14.3.7.4   SWOT Analysis
         14.3.8   SDL Plc (RWS Holdings Plc)
              14.3.8.1   Company Overview
              14.3.8.2   Product Portfolio
              14.3.8.3   Financials
         14.3.9   Smart Communications Inc. (PLDT Inc.)
              14.3.9.1   Company Overview
              14.3.9.2   Product Portfolio
         14.3.10   Systran
              14.3.10.1   Company Overview
              14.3.10.2   Product Portfolio
              14.3.10.3   Financials
         14.3.11   Welocalize Inc.
              14.3.11.1   Company Overview
              14.3.11.2   Product Portfolio

List of Figures

Figure 1: Global: Machine Translation Market: Major Drivers and Challenges
Figure 2: Global: Machine Translation Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Machine Translation Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 4: Global: Machine Translation Market: Breakup by Technology Type (in %), 2020
Figure 5: Global: Machine Translation Market: Breakup by Deployment Type (in %), 2020
Figure 6: Global: Machine Translation Market: Breakup by Application (in %), 2020
Figure 7: Global: Machine Translation Market: Breakup by Region (in %), 2020
Figure 8: Global: Machine Translation (Statistical Machine Translation- SMT) Market: Sales Value (in Million US$), 2015-2020
Figure 9: Global: Machine Translation (Statistical Machine Translation- SMT) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 10: Global: Machine Translation (Rule-Based Machine Translation- RBMT) Market: Sales Value (in Million US$), 2015-2020
Figure 11: Global: Machine Translation (Rule-Based Machine Translation- RBMT) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 12: Global: Machine Translation (Neural Machine Translation) Market: Sales Value (in Million US$), 2015-2020
Figure 13: Global: Machine Translation (Neural Machine Translation) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: Global: Machine Translation (Others) Market: Sales Value (in Million US$), 2015-2020
Figure 15: Global: Machine Translation (Others) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: Global: Machine Translation (On-Premises) Market: Sales Value (in Million US$), 2015-2020
Figure 17: Global: Machine Translation (On-Premises) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: Global: Machine Translation (Cloud-Based) Market: Sales Value (in Million US$), 2015-2020
Figure 19: Global: Machine Translation (Cloud-Based) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 20: Global: Machine Translation (BFSI) Market: Sales Value (in Million US$), 2015-2020
Figure 21: Global: Machine Translation (BFSI) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: Global: Machine Translation (Automotive) Market: Sales Value (in Million US$), 2015-2020
Figure 23: Global: Machine Translation (Automotive) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: Global: Machine Translation (Electronics) Market: Sales Value (in Million US$), 2015-2020
Figure 25: Global: Machine Translation (Electronics) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: Global: Machine Translation (Healthcare) Market: Sales Value (in Million US$), 2015-2020
Figure 27: Global: Machine Translation (Healthcare) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: Global: Machine Translation (IT and Telecommunications) Market: Sales Value (in Million US$), 2015-2020
Figure 29: Global: Machine Translation (IT and Telecommunications) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 30: Global: Machine Translation (Military and Defense) Market: Sales Value (in Million US$), 2015-2020
Figure 31: Global: Machine Translation (Military and Defense) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 32: Global: Machine Translation (Others) Market: Sales Value (in Million US$), 2015-2020
Figure 33: Global: Machine Translation (Others) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 34: North America: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 35: North America: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 36: North America: Machine Translation Market: Breakup by Country (in %), 2020
Figure 37: United States: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 38: United States: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 39: Canada: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 40: Canada: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 41: Asia-Pacific: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 42: Asia-Pacific: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 43: Asia-Pacific: Machine Translation Market: Breakup by Country (in %), 2020
Figure 44: China: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 45: China: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 46: Japan: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 47: Japan: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 48: India: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 49: India: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 50: South Korea: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 51: South Korea: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 52: Australia: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 53: Australia: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 54: Indonesia: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 55: Indonesia: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 56: Others: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 57: Others: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 58: Europe: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 59: Europe: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 60: Europe: Machine Translation Market: Breakup by Country (in %), 2020
Figure 61: Germany: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 62: Germany: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 63: France: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 64: France: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 65: United Kingdom: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 66: United Kingdom: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 67: Italy: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 68: Italy: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 69: Spain: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 70: Spain: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 71: Russia: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 72: Russia: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 73: Others: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 74: Others: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 75: Latin America: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 76: Latin America: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 77: Latin America: Machine Translation Market: Breakup by Country (in %), 2020
Figure 78: Brazil: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 79: Brazil: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 80: Mexico: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 81: Mexico: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 82: Others: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 83: Others: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 84: Middle East and Africa: Machine Translation Market: Sales Value (in Million US$), 2015-2020
Figure 85: Middle East and Africa: Machine Translation Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 86: Middle East and Africa: Machine Translation Market: Breakup by Country (in %), 2020
Figure 87: Global: Machine Translation Industry: SWOT Analysis
Figure 88: Global: Machine Translation Industry: Value Chain Analysis
Figure 89: Global: Machine Translation Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Machine Translation Market: Key Industry Highlights, 2021 and 2026
Table 2: Global: Machine Translation Market Forecast: Breakup by Technology Type (in Million US$), 2021-2026
Table 3: Global: Machine Translation Market Forecast: Breakup by Deployment Type (in Million US$), 2021-2026
Table 4: Global: Machine Translation Market Forecast: Breakup by Application (in Million US$), 2021-2026
Table 5: Global: Machine Translation Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 6: Global: Machine Translation Market: Competitive Structure
Table 7: Global: Machine Translation Market: Key Players

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