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The report "Machine Translation Market by Technology (Statistical Machine Translation [SMT], Rule-based Machine Translation [RBMT], Neural Machine Translation [NMT], Others), by Deployment Type (On-Premises, Cloud), by Application (Military & Defense, Healthcare & Life Sciences, Automotive, Travel & Hospitality, Legal & Law Firms, Banking & Finance, Electronics, IT & Telecom Services, Retail & Manufacturing, Media & Entertainment, Others) - Global Forecast to 2030", market was valued at USD 540.0 million in 2021 and is predicted to reach USD 1,354.3 million by 2030, growing at a CAGR of 14.9% during the forecast period (2022 – 2030). Some of the major factors responsible for the growth of machine translation across the globe are increasing volume of big data all over the internet, increasing popularity of cloud-based applications, and increase in the number of students undertaking higher education courses abroad.

Browse 53 market data Tables and 35 Figures spread through 170 Pages and in-depth TOC on "Machine Translation Market by Technology (Statistical Machine Translation [SMT], Rule-based Machine Translation [RBMT], Neural Machine Translation [NMT], Others), by Deployment Type (On-Premises, Cloud), by Application (Military & Defense, Healthcare & Life Sciences, Automotive, Travel & Hospitality, Legal & Law Firms, Banking & Finance, Electronics, IT & Telecom Services, Retail & Manufacturing, Media & Entertainment, Others) - Global Forecast to 2030"

On the basis of application, the global machine translation market is categorized into military & defense, healthcare & life sciences, automotive, travel & hospitality, legal & law firms, banking & finance, electronics, it & telecom services, retail & manufacturing, media & entertainment, and others. During the forecast period, the retail & manufacturing category is expected to be the fastest growing category. The major factor driving the growth of this category are increasing demand of machine translation among retailers to enhance their influence and sales across borders and implement a go-to-market strategy.

Global Machine Translation Market Segmentation Analysis

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“North America to hold the largest regional market share in 2021.”

North America is the largest revenue contributor in the machine translation market Growing demand for machine translation in military and defense sector will fuel growth for machine translation market in the region.

Some of the major players operating in the global machine translation market include Microsoft Corporation, Baidu, Google LLC, Alibaba Cloud, Amazon, Systran International, International Business Machines Corporation (IBM), Lionbridge Technologies Inc., SDL Plc, and Honyaku Center Inc.

Scope of the Report

Global Machine Translation Market Coverage

Technology Insight and Forecast 2018-2030

• Statistical Machine Translation (SMT)
• Rule-based Machine Translation (RBMT)
• Neural Machine Translation (NMT)
• Others

Deployment Type Insight and Forecast 2018-2030

• On-premises
• Cloud

Application Insight and Forecast 2018-2030

• Military & Defence
• Healthcare & Lifesciences
• Automotive
• Travel & Hospitality
• Legal & Law Firms
• Banking & Finance
• Electronics
• IT & Telecom Services
• Retail & Manufacturing
• Media & Entertainment
• Others

Geographical Segmentation

Machine Translation Market by Region

North America

• By Technology
• By Deployment Type
• By Application
• By Country – U.S., Canada, and Mexico

Europe

• By Technology
• By Deployment Type
• By Application
• By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

• By Technology
• By Deployment Type
• By Application
• By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

• By Technology
• By Deployment Type
• By Application
• By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries