Machine Translation (MT) System Market - Global Outlook and Forecast 2023-2028

Report ID: 1377548 | Published Date: Jan 2025 | No. of Page: 107 | Base Year: 2024 | Rating: 4.8 | Webstory: Check our Web story
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This report contains market size and forecasts of Machine Translation (MT) System in Global, including the following market information:
Global Machine Translation (MT) System Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global top five companies in 2021 (%)
The global Machine Translation (MT) System market was valued at 739.7 million in 2021 and is projected to reach US$ 1598.5 million by 2028, at a CAGR of 11.6% during the forecast period.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Statistical Machine Translation (SMT) Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Machine Translation (MT) System include AppTek, Asia Online Pte Ltd., Cloudwords Inc., IBM Corporation, Lighthouse IP Group, Lingo24 Ltd., Lingotek Inc., Lionbridge Technologies Inc. and Lucy Software and Services GmbH, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Machine Translation (MT) System companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Machine Translation (MT) System Market, by Type, 2017-2022, 2023-2028 ($ millions)
Global Machine Translation (MT) System Market Segment Percentages, by Type, 2021 (%)
Statistical Machine Translation (SMT)
Rule-based Machine Translation (RBMT)
Hybrid Machine Translation
Neural Machine Translation
Global Machine Translation (MT) System Market, by Application, 2017-2022, 2023-2028 ($ millions)
Global Machine Translation (MT) System Market Segment Percentages, by Application, 2021 (%)
Automotive
Military & Defense
Electronics
Healthcare
Others
Global Machine Translation (MT) System Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)
Global Machine Translation (MT) System Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Machine Translation (MT) System revenues in global market, 2017-2022 (estimated), ($ millions)
Key companies Machine Translation (MT) System revenues share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
AppTek
Asia Online Pte Ltd.
Cloudwords Inc.
IBM Corporation
Lighthouse IP Group
Lingo24 Ltd.
Lingotek Inc.
Lionbridge Technologies Inc.
Lucy Software and Services GmbH
Moravia IT
Pangeanic
ProMT
Raytheon BBN Technologies
SDL PLC
Smart Communications
Systran International
Welocalize Inc.

Frequently Asked Questions
Machine Translation System Market report offers great insights of the market and consumer data and their interpretation through various figures and graphs. Report has embedded global market and regional market deep analysis through various research methodologies. The report also offers great competitor analysis of the industries and highlights the key aspect of their business like success stories, market development and growth rate.
Machine Translation System Market report is categorised based on following features:
  1. Global Market Players
  2. Geopolitical regions
  3. Consumer Insights
  4. Technological advancement
  5. Historic and Future Analysis of the Market
Machine Translation System Market report is designed on the six basic aspects of analysing the market, which covers the SWOT and SWAR analysis like strength, weakness, opportunity, threat, aspirations and results. This methodology helps investors to reach on to the desired and correct decision to put their capital into the market.

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