The global machine translation market is expected to reach USD 983.3 million by 2022. Technological advancements have led to the development of sophisticated translation technology with minimal errors and grammatical coherence, which has considerably widened the scope for machine translation. The ability to rapidly, seamlessly and cost-effectively translate documents and content in regional languages has spurred the machine translation market over the past few years.
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Further key findings from the study suggest:
Electronics and automotive industries are expected to gain significant market share by 2022. Application of machine translation in healthcare is expected to gain market share over the next six years. The need for accurate and timely translation of a large amount of content is expected to drive demand in various application industries.
Training of SMT-based translation engines consists of feeding in millions of segments of glossaries, bilingual texts, etc. for the engine to learn by examples. The demand for SMT has significantly increased over the past few years, due to its effectiveness over RBMT in terms of time and cost. It is also expected to remain the largest technology market through 2022.
Table Of Content
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
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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
3.6. 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
4.2. Military & Defense
Chapter 5. Machine Translation Technology Outlook
Chapter 6. Machine Translation Regional Outlook
6.1. North America
6.3. Asia Pacific
6.4. Latin Americ
Chapter 7. Competitive Landscape
7.2. Asia Online Pte Ltd.
7.3. Cloudwords Inc.
7.4. IBM Corporation
7.5. Lighthouse IP Group
7.6. Lingo24 Ltd.
7.7. Lingotek Inc.
7.8. Lionbridge Technologies Inc.
7.9. Lucy Software and Services GmbH
7.10. Moravia IT
7.13. Raytheon BBN Technologies
7.14. SDL PLC
7.15. Smart Communications
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