Machine Translation Market in Europe is projected to surpass $390mn by 2024 - PowerPoint PPT Presentation
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Machine Translation Market in Europe is projected to surpass $390mn by 2024
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The Europe machine translation market is one of the major markets owing to a large number of companies adopting machine translation. European countries have been at the forefront investing in these systems for deploying sophisticated models that target numerous languages and high multi-lingual content. – PowerPoint PPT presentation
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Title: Machine Translation Market in Europe is projected to surpass $390mn by 2024
1
Europe Machine Translation Market size may exceed
390mn by 2024 Graphical Research
2018 Graphical Research. All rights
reserved.
www.graphicalresearch.com
2
Key Insights from Europe Machine Translation
Market
- Graphical Research says, Europe Machine
Translation Market to reach USD 390 million by
2024 - The Europe machine translation is projected to
witness a substantial growth over the forecast
period owing to the growing demand from the
language service providers. - The increasing adoption of machine translation
and speech recognition by the service providers
has contributed significantly to the growth of
the market. This is primarily attributed to the
support from the EU financed programs. - The governments of EU economies are one of
the major stakeholders in the Europe machine
translation market. - The European Commission (EC) introduced online
eTranslation services for civil workers in
November 2017.
2018 Graphical Research. All rights
reserved.
www.graphicalresearch.com
3
Continued...
- Based on technology, the Europe machine
translation market is projected to witness a
strong growth in SMT-based systems. These systems
yield results by finding similar patterns. - Some of the examples of such systems are
open-source Moses system, Google Translate, and
Bing Translator. These systems are much more
natural when compared with RBMT systems. - The prominent players of the Europe machine
translation market are Lionbridge, Sampark,
Moravia IT, Lucy Software, Microsoft Corporation,
Google Inc., IBM Corporation, and others. - Google and Microsoft are developing solutions to
effectively translate documents in different
languages. - Googles NMT tool was initially launched in 2016
and is based on artificial neural network to
decode the semantic data for multilingual
translations.
2018 Graphical Research. All rights
reserved.
www.graphicalresearch.com
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Browse Full Market Research Report On , Europe
Machine Translation Market _at_ https//bit.ly/2O4r
hU5 Request for a Sample of this Research
Report _at_ https//bit.ly/2yvaM8B
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reserved.
www.graphicalresearch.com
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