Summary

Global Machine Translation Market 2024-2028
The machine translation market is forecasted to grow by USD 1233.9 mn during 2023-2028, accelerating at a CAGR of 15.89% during the forecast period. The report on the machine translation market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing demand for content localization, the rapid globalization of businesses is generating the need for multilingual communication, and increasing adoption of voice recognition technology.
Technavio's machine translation market is segmented as below:
By Application
• Defense
• IT
• Automotive
• Healthcare
By Deployment
• On-premises
• Cloud
By Geographical Landscape
• North America
• Europe
• APAC
• South America
• Middle East and Africa
This study identifies the rising use of multilingual AI as one of the prime reasons driving the machine translation market growth during the next few years. Also, the growing localization of video content and the growing adoption of mobile translation will lead to sizable demand in the market.
The report on the machine translation market covers the following areas:
• Machine translation market sizing
• Machine translation market forecast
• Machine translation market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading machine translation market vendors that include Alphabet Inc., ARGOS TRANSLATIONS Sp. z o.o., Babylon Software Ltd., Cloudwords Inc., CSOFT International Inc., Global Lingo Ltd., Honyaku Center Inc., International Business Machines Corp., Lingotek Inc., Lingua Custodia, Lionbridge Technologies LLC, Microsoft Corp., Omniscien Technologies, Promt, SYSTRAN SA, Teleperformance SE, thebigword Group Ltd., TransPerfect Global Inc., Welocalize Inc., and RWS Holdings PLC. Also, the machine translation market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors. For further information on this report, please visit - https://www.technavio.com/report/machine-translation-market-industry-analysis
The publisher presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.

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Table of Contents

- 1 Executive Summary
o 1.1 Market overview
o Exhibit 01: Executive Summary - Chart on Market Overview
o Exhibit 02: Executive Summary - Data Table on Market Overview
o Exhibit 03: Executive Summary - Chart on Global Market Characteristics
o Exhibit 04: Executive Summary - Chart on Market By Geographical Landscape
o Exhibit 05: Executive Summary - Chart on Market Segmentation by Application
o Exhibit 06: Executive Summary - Chart on Market Segmentation by Deployment
o Exhibit 07: Executive Summary - Chart on Incremental Growth
o Exhibit 08: Executive Summary - Data Table on Incremental Growth
o Exhibit 09: Executive Summary - Chart on Vendor Market Positioning
- 2 Market Landscape
o 2.1 Market ecosystem
o Exhibit 10: Parent market
o Exhibit 11: Market Characteristics
- 3 Market Sizing
o 3.1 Market definition
o Exhibit 12: Offerings of vendors included in the market definition
o 3.2 Market segment analysis
o Exhibit 13: Market segments
o 3.3 Market size 2023
o 3.4 Market outlook: Forecast for 2023-2028
o Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ million)
o Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ million)
o Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
o Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)
- 4 Historic Market Size
o 4.1 Global machine translation market 2018 - 2022
o Exhibit 18: Historic Market Size - Data Table on global machine translation market 2018 - 2022 ($ million)
o 4.2 Application Segment Analysis 2018 - 2022
o Exhibit 19: Historic Market Size - Application Segment 2018 - 2022 ($ million)
o 4.3 Deployment Segment Analysis 2018 - 2022
o Exhibit 20: Historic Market Size - Deployment Segment 2018 - 2022 ($ million)
o 4.4 Geography Segment Analysis 2018 - 2022
o Exhibit 21: Historic Market Size - Geography Segment 2018 - 2022 ($ million)
o 4.5 Country Segment Analysis 2018 - 2022
o Exhibit 22: Historic Market Size - Country Segment 2018 - 2022 ($ million)
- 5 Five Forces Analysis
o 5.1 Five forces summary
o Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
o 5.2 Bargaining power of buyers
o Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
o 5.3 Bargaining power of suppliers
o Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
o 5.4 Threat of new entrants
o Exhibit 26: Threat of new entrants - Impact of key factors in 2023 and 2028
o 5.5 Threat of substitutes
o Exhibit 27: Threat of substitutes - Impact of key factors in 2023 and 2028
o 5.6 Threat of rivalry
o Exhibit 28: Threat of rivalry - Impact of key factors in 2023 and 2028
o 5.7 Market condition
o Exhibit 29: Chart on Market condition - Five forces 2023 and 2028
- 6 Market Segmentation by Application
o 6.1 Market segments
o Exhibit 30: Chart on Application - Market share 2023-2028 (%)
o Exhibit 31: Data Table on Application - Market share 2023-2028 (%)
o 6.2 Comparison by Application
o Exhibit 32: Chart on Comparison by Application
o Exhibit 33: Data Table on Comparison by Application
o 6.3 Defense - Market size and forecast 2023-2028
o Exhibit 34: Chart on Defense - Market size and forecast 2023-2028 ($ million)
o Exhibit 35: Data Table on Defense - Market size and forecast 2023-2028 ($ million)
o Exhibit 36: Chart on Defense - Year-over-year growth 2023-2028 (%)
o Exhibit 37: Data Table on Defense - Year-over-year growth 2023-2028 (%)
o 6.4 IT - Market size and forecast 2023-2028
o Exhibit 38: Chart on IT - Market size and forecast 2023-2028 ($ million)
o Exhibit 39: Data Table on IT - Market size and forecast 2023-2028 ($ million)
o Exhibit 40: Chart on IT - Year-over-year growth 2023-2028 (%)
o Exhibit 41: Data Table on IT - Year-over-year growth 2023-2028 (%)
o 6.5 Automotive - Market size and forecast 2023-2028
o Exhibit 42: Chart on Automotive - Market size and forecast 2023-2028 ($ million)
o Exhibit 43: Data Table on Automotive - Market size and forecast 2023-2028 ($ million)
o Exhibit 44: Chart on Automotive - Year-over-year growth 2023-2028 (%)
o Exhibit 45: Data Table on Automotive - Year-over-year growth 2023-2028 (%)
o 6.6 Healthcare - Market size and forecast 2023-2028
o Exhibit 46: Chart on Healthcare - Market size and forecast 2023-2028 ($ million)
o Exhibit 47: Data Table on Healthcare - Market size and forecast 2023-2028 ($ million)
o Exhibit 48: Chart on Healthcare - Year-over-year growth 2023-2028 (%)
o Exhibit 49: Data Table on Healthcare - Year-over-year growth 2023-2028 (%)
o 6.7 Market opportunity by Application
o Exhibit 50: Market opportunity by Application ($ million)
o Exhibit 51: Data Table on Market opportunity by Application ($ million)
- 7 Market Segmentation by Deployment
o 7.1 Market segments
o Exhibit 52: Chart on Deployment - Market share 2023-2028 (%)
o Exhibit 53: Data Table on Deployment - Market share 2023-2028 (%)
o 7.2 Comparison by Deployment
o Exhibit 54: Chart on Comparison by Deployment
o Exhibit 55: Data Table on Comparison by Deployment
o 7.3 On-premises - Market size and forecast 2023-2028
o Exhibit 56: Chart on On-premises - Market size and forecast 2023-2028 ($ million)
o Exhibit 57: Data Table on On-premises - Market size and forecast 2023-2028 ($ million)
o Exhibit 58: Chart on On-premises - Year-over-year growth 2023-2028 (%)
o Exhibit 59: Data Table on On-premises - Year-over-year growth 2023-2028 (%)
o 7.4 Cloud - Market size and forecast 2023-2028
o Exhibit 60: Chart on Cloud - Market size and forecast 2023-2028 ($ million)
o Exhibit 61: Data Table on Cloud - Market size and forecast 2023-2028 ($ million)
o Exhibit 62: Chart on Cloud - Year-over-year growth 2023-2028 (%)
o Exhibit 63: Data Table on Cloud - Year-over-year growth 2023-2028 (%)
o 7.5 Market opportunity by Deployment
o Exhibit 64: Market opportunity by Deployment ($ million)
o Exhibit 65: Data Table on Market opportunity by Deployment ($ million)
- 8 Customer Landscape
o 8.1 Customer landscape overview
o Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- 9 Geographic Landscape
o 9.1 Geographic segmentation
o Exhibit 67: Chart on Market share By Geographical Landscape 2023-2028 (%)
o Exhibit 68: Data Table on Market share By Geographical Landscape 2023-2028 (%)
o 9.2 Geographic comparison
o Exhibit 69: Chart on Geographic comparison
o Exhibit 70: Data Table on Geographic comparison
o 9.3 North America - Market size and forecast 2023-2028
o Exhibit 71: Chart on North America - Market size and forecast 2023-2028 ($ million)
o Exhibit 72: Data Table on North America - Market size and forecast 2023-2028 ($ million)
o Exhibit 73: Chart on North America - Year-over-year growth 2023-2028 (%)
o Exhibit 74: Data Table on North America - Year-over-year growth 2023-2028 (%)
o 9.4 Europe - Market size and forecast 2023-2028
o Exhibit 75: Chart on Europe - Market size and forecast 2023-2028 ($ million)
o Exhibit 76: Data Table on Europe - Market size and forecast 2023-2028 ($ million)
o Exhibit 77: Chart on Europe - Year-over-year growth 2023-2028 (%)
o Exhibit 78: Data Table on Europe - Year-over-year growth 2023-2028 (%)
o 9.5 APAC - Market size and forecast 2023-2028
o Exhibit 79: Chart on APAC - Market size and forecast 2023-2028 ($ million)
o Exhibit 80: Data Table on APAC - Market size and forecast 2023-2028 ($ million)
o Exhibit 81: Chart on APAC - Year-over-year growth 2023-2028 (%)
o Exhibit 82: Data Table on APAC - Year-over-year growth 2023-2028 (%)
o 9.6 South America - Market size and forecast 2023-2028
o Exhibit 83: Chart on South America - Market size and forecast 2023-2028 ($ million)
o Exhibit 84: Data Table on South America - Market size and forecast 2023-2028 ($ million)
o Exhibit 85: Chart on South America - Year-over-year growth 2023-2028 (%)
o Exhibit 86: Data Table on South America - Year-over-year growth 2023-2028 (%)
o 9.7 Middle East and Africa - Market size and forecast 2023-2028
o Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
o Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
o Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
o Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
o 9.8 US - Market size and forecast 2023-2028
o Exhibit 91: Chart on US - Market size and forecast 2023-2028 ($ million)
o Exhibit 92: Data Table on US - Market size and forecast 2023-2028 ($ million)
o Exhibit 93: Chart on US - Year-over-year growth 2023-2028 (%)
o Exhibit 94: Data Table on US - Year-over-year growth 2023-2028 (%)
o 9.9 Germany - Market size and forecast 2023-2028
o Exhibit 95: Chart on Germany - Market size and forecast 2023-2028 ($ million)
o Exhibit 96: Data Table on Germany - Market size and forecast 2023-2028 ($ million)
o Exhibit 97: Chart on Germany - Year-over-year growth 2023-2028 (%)
o Exhibit 98: Data Table on Germany - Year-over-year growth 2023-2028 (%)
o 9.10 Canada - Market size and forecast 2023-2028
o Exhibit 99: Chart on Canada - Market size and forecast 2023-2028 ($ million)
o Exhibit 100: Data Table on Canada - Market size and forecast 2023-2028 ($ million)
o Exhibit 101: Chart on Canada - Year-over-year growth 2023-2028 (%)
o Exhibit 102: Data Table on Canada - Year-over-year growth 2023-2028 (%)
o 9.11 UK - Market size and forecast 2023-2028
o Exhibit 103: Chart on UK - Market size and forecast 2023-2028 ($ million)
o Exhibit 104: Data Table on UK - Market size and forecast 2023-2028 ($ million)
o Exhibit 105: Chart on UK - Year-over-year growth 2023-2028 (%)
o Exhibit 106: Data Table on UK - Year-over-year growth 2023-2028 (%)
o 9.12 China - Market size and forecast 2023-2028
o Exhibit 107: Chart on China - Market size and forecast 2023-2028 ($ million)
o Exhibit 108: Data Table on China - Market size and forecast 2023-2028 ($ million)
o Exhibit 109: Chart on China - Year-over-year growth 2023-2028 (%)
o Exhibit 110: Data Table on China - Year-over-year growth 2023-2028 (%)
o 9.13 Market opportunity By Geographical Landscape
o Exhibit 111: Market opportunity By Geographical Landscape ($ million)
o Exhibit 112: Data Tables on Market opportunity By Geographical Landscape ($ million)
- 10 Drivers, Challenges, and Trends
o 10.1 Market drivers
o 10.2 Market challenges
o 10.3 Impact of drivers and challenges
o Exhibit 113: Impact of drivers and challenges in 2023 and 2028
o 10.4 Market trends
- 11 Vendor Landscape
o 11.1 Overview
o 11.2 Vendor landscape
o Exhibit 114: Overview on Criticality of inputs and Factors of differentiation
o 11.3 Landscape disruption
o Exhibit 115: Overview on factors of disruption
o 11.4 Industry risks
o Exhibit 116: Impact of key risks on business
- 12 Vendor Analysis
o 12.1 Vendors covered
o Exhibit 117: Vendors covered
o 12.2 Market positioning of vendors
o Exhibit 118: Matrix on vendor position and classification
o 12.3 Alphabet Inc.
o Exhibit 119: Alphabet Inc. - Overview
o Exhibit 120: Alphabet Inc. - Business segments
o Exhibit 121: Alphabet Inc. - Key news
o Exhibit 122: Alphabet Inc. - Key offerings
o Exhibit 123: Alphabet Inc. - Segment focus
o 12.4 Babylon Software Ltd.
o Exhibit 124: Babylon Software Ltd. - Overview
o Exhibit 125: Babylon Software Ltd. - Product / Service
o Exhibit 126: Babylon Software Ltd. - Key offerings
o 12.5 Cloudwords Inc.
o Exhibit 127: Cloudwords Inc. - Overview
o Exhibit 128: Cloudwords Inc. - Product / Service
o Exhibit 129: Cloudwords Inc. - Key offerings
o 12.6 CSOFT International Inc.
o Exhibit 130: CSOFT International Inc. - Overview
o Exhibit 131: CSOFT International Inc. - Product / Service
o Exhibit 132: CSOFT International Inc. - Key offerings
o 12.7 Global Lingo Ltd.
o Exhibit 133: Global Lingo Ltd. - Overview
o Exhibit 134: Global Lingo Ltd. - Product / Service
o Exhibit 135: Global Lingo Ltd. - Key offerings
o 12.8 Honyaku Center Inc.
o Exhibit 136: Honyaku Center Inc. - Overview
o Exhibit 137: Honyaku Center Inc. - Business segments
o Exhibit 138: Honyaku Center Inc. - Key offerings
o Exhibit 139: Honyaku Center Inc. - Segment focus
o 12.9 International Business Machines Corp.
o Exhibit 140: International Business Machines Corp. - Overview
o Exhibit 141: International Business Machines Corp. - Business segments
o Exhibit 142: International Business Machines Corp. - Key news
o Exhibit 143: International Business Machines Corp. - Key offerings
o Exhibit 144: International Business Machines Corp. - Segment focus
o 12.10 Lingotek Inc.
o Exhibit 145: Lingotek Inc. - Overview
o Exhibit 146: Lingotek Inc. - Product / Service
o Exhibit 147: Lingotek Inc. - Key offerings
o 12.11 Lingua Custodia
o Exhibit 148: Lingua Custodia - Overview
o Exhibit 149: Lingua Custodia - Product / Service
o Exhibit 150: Lingua Custodia - Key offerings
o 12.12 Lionbridge Technologies LLC
o Exhibit 151: Lionbridge Technologies LLC - Overview
o Exhibit 152: Lionbridge Technologies LLC - Product / Service
o Exhibit 153: Lionbridge Technologies LLC - Key offerings
o 12.13 Microsoft Corp.
o Exhibit 154: Microsoft Corp. - Overview
o Exhibit 155: Microsoft Corp. - Business segments
o Exhibit 156: Microsoft Corp. - Key news
o Exhibit 157: Microsoft Corp. - Key offerings
o Exhibit 158: Microsoft Corp. - Segment focus
o 12.14 Omniscien Technologies
o Exhibit 159: Omniscien Technologies - Overview
o Exhibit 160: Omniscien Technologies - Product / Service
o Exhibit 161: Omniscien Technologies - Key offerings
o 12.15 RWS Holdings PLC
o Exhibit 162: RWS Holdings PLC - Overview
o Exhibit 163: RWS Holdings PLC - Business segments
o Exhibit 164: RWS Holdings PLC - Key offerings
o Exhibit 165: RWS Holdings PLC - Segment focus
o 12.16 SYSTRAN SA
o Exhibit 166: SYSTRAN SA - Overview
o Exhibit 167: SYSTRAN SA - Product / Service
o Exhibit 168: SYSTRAN SA - Key offerings
o 12.17 TransPerfect Global Inc.
o Exhibit 169: TransPerfect Global Inc. - Overview
o Exhibit 170: TransPerfect Global Inc. - Product / Service
o Exhibit 171: TransPerfect Global Inc. - Key news
o Exhibit 172: TransPerfect Global Inc. - Key offerings
- 13 Appendix
o 13.1 Scope of the report
o 13.2 Inclusions and exclusions checklist
o Exhibit 173: Inclusions checklist
o Exhibit 174: Exclusions checklist
o 13.3 Currency conversion rates for US$
o Exhibit 175: Currency conversion rates for US$
o 13.4 Research methodology
o Exhibit 176: Research methodology
o Exhibit 177: Validation techniques employed for market sizing
o Exhibit 178: Information sources
o 13.5 List of abbreviations
o Exhibit 179: List of abbreviations