123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

Rising Demand For Content Localization Helping Machine Translation Market Grow

By Author: navdeep kaurav
Total Articles: 3

The increasing big data volume on the internet and rising demand for content localization are driving the machine translation (MT) market. In 2016, it valued $122.3 million, and it is predicted to grow at a 6.7% CAGR during the forecast period (2017–2023). The process of translating text from one natural language to another by the use of a computer is referred to as machine translation.

The migration of machine translation to cloud services is trending in the machine translation market. Both the commercial and academic sectors are using different approaches, such as platform as a service (PaaS), software as a service (SaaS), and cloud computing for content delivery. Cloud-based solutions are gaining acceptance as they help in reducing operational costs and improving responsiveness and unification, and contribute to the seamless operations of MT techniques and tools.

Another trend in the market is the combination of translation memory (TM) and MT systems to smoothen the workflow. The database that contains a collection of translated sentences and paragraphs is referred to as translation memory. These are being used to speed up the translation projects and reduce their cost. Many organizations in the translation business, such as SDL PLC and Transperfect, are combining TM with MT to offer high-quality translations.

One of the key drivers of the machine translation market is the generation of a huge amount of data from various industries. This is being observed due to the adoption of digital technologies and an increasing number of mobile devices. Therefore, the demand for high-speed and cost-effective translation is rising. A research states that less than one millionth part of the content being generated every day is addressed by human translators across the globe.

Another driving factor for the machine translation market is the rising demand for content localization. To widen their reach, companies are increasingly localizing their products, websites, and applications. Localization helps enterprises communicate with consumers in their regional language and develop a local appeal by integrating industry-specific aspects with the local culture. The major hindrances in localization implementation are the low speed, high cost, and inferior quality of localization projects. MT is taking care of these issues by delivering the projects in less time and in a cost-effective way.

Explore Full Report With TOC :https://www.psmarketresearch.com/market-analysis/machine-translation-market

The region segment of the machine translation market is subdivided into Asia-Pacific (APAC), North America, Europe, and Rest of the World. During the forecast period, with a 7.5% CAGR, the APAC region is projected to be the fastest growing market. The usage of several languages, a lucrative customer base, increasing disposable income, fast growth of businesses, and surging number of high-net-worth individuals are adding to the market growth in the APAC region.

Therefore, the market would continue to grow during the forecast period with companies looking at innovative marketing strategies.

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

Get Full Report With TOC: www.psmarketresearch.com

Total Views: 221Word Count: 531See All articles From Author

Business Articles

1. How To Pick Out Best-suited Menu Cover For Your Eatery Store?
Author: menucover

2. The Power Of Words: How Words Effect You
Author: EWN Admin

3. Have A Glance On Antique And Vintage Diamond Jewelry Of New York
Author: Steve Son

4. The Mechanism Of Milking
Author: Delmer Group

5. Incredible Benefits Of Ivr Technolgy: I
Author: Surabhi Joshi

6. Buying Your First Cnc Machine
Author: Jaewoo Machines

7. Running Shoes Are Shoes That Are Used For Running Either On Roads Or On Trails Usually. Today Are
Author: Spiriosportsgear

8. Mobile And Your Distribution Business
Author: Nsacom

9. Reverse Osmosis And Ro Systems
Author: Kelvin

10. Web Based Manufacturing Erp Software Solution
Author: eresource

11. Know Odisha More Closely At Moodisha.org – Uniquely Created Database For Villages Blocks And Distric
Author: anishapanigrahi

12. Innovative Cr Packing Designs, Testing, And Manufacturer
Author: Jack Verhoeff

13. 5 Avoidable Mistakes Of In Laser Engraving
Author: Steven Glassner

14. Rat Guard For Ships – Buying The Best Quality From Online Stores
Author: Robert Smith

15. Automated Email Invoicing Delivery – The Route Of Transformation
Author: Jesse Chris

Login To Account
Login Email:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: