Machine Translation Market by Growth Opportunities and Key Trends Analysis by Regional Players to 2030

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Machine Translation Market by Growth
Opportunities and Key Trends Analysis by Regional
Players to 2030
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• Industry Insights

• The vision of automatically translating documents
  from one language to another has been one of the
  oldest pursuits in the evolution of artificial
  intelligence. Machine translation, which has
  emerged as a prominent tool in this evolution,
  has undergone significant changes itself over the
  years.
• From its beginning in systems that required
  intensive computing effort to produce somewhat
  accurate translations, to NMT (neural machine
  translation) systems that can process large
  volumes of content faster and more accurately,
  the machine translation market has witnessed
  monumental development over the years.
• Over time, MT technology has evolved into a
  highly sought-after solution for more accurate
  and speedier translation of content from one
  language to another. This growth is supported by
  the persistent advancements in technologies like
  NLP (natural language processing) and AI
  (artificial intelligence), which are gradually
  bringing machine translation solutions into the
  mainstream.

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• In recent years, several efforts are underway
  from major business entities to deliver strong
  transformational value in the machine learning
  industry. These efforts are characterized largely
  by collaborations being made by companies, which
  brings together their individual benefits and
  experience.
• For instance, TAUS and Intento inked a strategic
  collaboration in April 2022, with an aim to
  realize the full potential of machine translation
  technologies and develop novel opportunities for
  MT model training. Bringing together
  domain-specific, high-quality language data
  services and experience in MT training and
  evaluation, the partnership was designed to cover
  three areas.
• Machine translation is also being hailed by many
  as the future of localization. In this scenario,
  the evolution of MT technology will have a
  profound effect on business practices worldwide,
  through the development of targeted tools
  designed to automate translation and localization
  processes.
• To that end, in September 2021, Intento partnered
  with Smartcat to develop enhanced language
  solutions, using combined benefits from the
  integration and expertise of both entities.
  Intento MT Hub for Smartcat was designed to
  facilitate users access to high-quality
  translations using over 30 major machine
  translator providers including Amazon Translate,
  Google Cloud AutoML, and ModernMT.

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• Competitive Analysis

• Key players operating in the machine translation
  market AWS (Amazon.com, Inc.), Alibaba Cloud,
  AppTek LLC, Baidu, Google LLC (Alphabet Inc.),
  Cloudwords Inc., Microsoft Corporation, IBM
  Corporation, Moravia IT s.r.o. (RWS Holdings),
  Lionbridge Technologies, Inc., Omniscien
  Technologies, Raytheon BBN Technologies Corp

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