Global Machine Translation (MT) Market Size, Status and Forecast 2021-2027

Machine translation (MT) refers to fully automated software that can translate source content into target languages. Humans may use MT to help them render text and speech into another language, or the MT software may operate without human intervention. MT tools are often used to translate vast amounts of information involving millions of words that could not possibly be translated the traditional way. The quality of MT output can vary considerably; MT systems require “training” in the desired domain and language pair to increase quality. Translation companies use MT to augment productivity of their translators, cut costs, and provide post-editing services to clients. MT use by language service providers is growing quickly. In 2016, SDL—one of the largest translation companies in the world—announced it translates 20 times more content with MT than with human teams.

Market Analysis and Insights: Global Machine Translation (MT) Market
The global Machine Translation (MT) market size is projected to reach US$ 164.7 million by 2027, from US$ 123.1 million in 2020, at a CAGR of 3.8% during 2021-2027.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Machine Translation (MT) market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Machine Translation (MT) market in terms of revenue.
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Global Machine Translation (MT) Scope and Market Size
Machine Translation (MT) market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Machine Translation (MT) market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2016-2027.

Segment by Type
Generic MT
Customizable MT
Adaptive MT

Segment by Application
Healthcare
Automotive
Military & Defense
IT
Others

By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA

By Company
Google Translate
Microsoft Translator / Bing
SDL BeGlobal
Yandex Translate
Amazon Web Services translator
Naver
IBM - Watson Language Translator
Automatic Trans
BABYLON
CCID TransTech
CSLi
East Linden
Eleka Ingeniaritza Linguistikoa
GrammarSoft ApS
Iconic Translation Machines
K2E-PAT
KantanMT
Kodensha