× Industry Reports Services Press Release Contact us About us

North America Machine Translation Market Size, By Application (Automotive, BFSI, E-Commerce, Electronics, Healthcare, IT & Telecommunications, Military & Defense), By Technology (Statistical Machine Translation (SMT), Rule-based Machine Translation (RBMT), Neural Machine Translation, Hybrid Machine Translation, Example-based Machine Translation), By Deployment Model (On-Premise, Cloud), Industry Analysis Report, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: January 2021 | Publisher: Graphical Research Report ID: GR1071 | Delivery : PDF

North America Machine Translation Market value was over USD 200 million in 2019 and will expand at a CAGR of 14% from 2020 to 2026.
 

North America Machine Translation Market

Get more details on this report - Request Free Sample PDF

The North America market growth is attributed to the increasing demand for localized content and use of computer-assisted tools. The globalization of businesses, linguistic diversity, and growing requirements for easy communication are propelling the market growth. Companies operating in the region are rapidly adopting machine translation to ease communication and expand their products & solutions to a large customer base. The advent of AI into machine translation is increasing translation efficiency and speed.

The ongoing coronavirus pandemic has a positive impact on the North America market. The healthcare sector has increasingly used machine translation to ease communication during the pandemic. For instance, in September 2020, IVANNOVATION developed the COVID-19 Response Translation System (CRTS). The system uses historical data and machine translation to help healthcare professionals, companies, and state & local governments to share information regarding the virus to their non-English speaking residents.

Statistical Machine Translation (SMT) had a significant market share in 2019 due to its comparatively high-speed and cost-effectiveness of translating languages over Rule-Based Machine Translation (RBMT) technology. The technology is cost-effective due to a reduction in the cost of human resources. The growing penetration of automation across large organizations to enhance productivity and reduce human dependency on translation will drive the SMT market growth. Several prominent organizations, such as the WHO, World Bank, EU, and the UN, have already adopted SMT.

The cloud-based machine translation segment is estimated to grow over the forecast period due to increasing need to reduce operational costs. Cloud-based systems have simplified the technology by enabling them to upload, track, and manage all projects and files from a centralized location. For instance, in July 2019, AWS launched Amazon Translate for office documents, allowing customers to accurately and quickly translate text in 55 different languages and variants. The service supports translation of documents into pptx, xlsx, and docx format. It increased the upload file size limit to 20 MB from 1MB for each document. Market players aim to expand their real-time translation service for demanding applications.

The use of machine translation in E-commerce applications is proliferating due to companies expanding their business across the globe through content localization. Machine translation eliminates the manual process of updating translations for product listings, reviews, or price changes to create localized experiences for clients around the globe.

Prominent industry players operating in the market include Raytheon BBN Technologies Corp. (Raytheon Technologies), IBM Corporation, SDL PLC, Microsoft Corporation, Lionbridge Technologies, Inc., Moravia IT s.r.o. (RWS Holdings), PangeanicMT, PROMT Ltd., Omniscien Technologies, Smart Communications, Inc., and Systran International. Market players are focusing on strategic alliances to improve their solution offerings. For instance, in April 2020, SDL PLC partnered with Expert System, one of the leaders in AI applied text. The partnership focuses on the integration of Expert System's AI-based platform with SDL machine translation. It enables both on-premise and cloud deployment of machine translation with users having total control over data with high security and flexibility.
 

Frequently Asked Question(FAQ) :

The market size of North America Machine Translation was valued over USD 200 million in 2019.
The industry share of North America Machine Translation is projected to expand at 14% CAGR during 2020 to 2026.
Prominent industry players operating in the North America machine translation market include Raytheon BBN Technologies Corp., IBM Corporation, SDL PLC, Microsoft Corporation, Lionbridge Technologies, Inc., Moravia IT s.r.o., PangeanicMT, PROMT Ltd., Omniscien Technologies, Smart Communications, Inc., and Systran International.

Select License

North America Machine Translation Market Size 2026 | Report Forecast


Why Choose us?
  • On-Time Delivery
  • Assured Quality
  • Industry Experts
  • Payment Security
Share Social-media