Machine Translation Market Dynamics Trends, Segmentation, Key Players, Application And Forecast

1. Chemicals & Materials Machine Translation Market Regional Revenue, Trends, Opportunities and Future Prospects © P&S Intelligence. All rights reserved 1

2. With rapid globalization, businesses are now able to expand their reach to different regions, where different languages are used colloquially. Even though English is considered a global language, there’s still a majority of people across the globe who know only their regional language as a means of communication. This is motivating companies to localize content into different languages to increase their product reach among customers. Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/machine-translation- market/report-sample This is being used by enterprises as a first-pass translation tool, which is then followed by editing by humans to maintain the quality of the translated text. In the coming years, the machine translation market is predicted to advance at a 6.7% CAGR. This technology finds application in various sectors, such as media & entertainment, retail & manufacturing, IT & telecom services, © P&S Intelligence. All rights reserved 2

3. electronics, banking & finance, legal & law firms, travel & hospitality, automotive, healthcare & lifesciences, and military & defense. Content localization helps companies to target consumers in their own language and develop a local appeal by combining industry-specific aspects with the local culture. It helps in the development of effective marketing campaigns for the products, thereby, helping enterprises connect with the target consumers. Even though content localization is important, its implementation is a difficult task as it requires heavy investment, time, and trained workforce to maintain the quality of projects. Make Enquiry Before Purchase @ https://www.psmarketresearch.com/send- enquiry?enquiry-url=machine-translation-market To counter these roadblocks, machine translation (MT) is extremely helpful, as it reduces the cost associated with translation and the time taken to market the product by hastening the localization process. It helps in the translation of huge volumes of content, which do not require precise translation but enough to be able to understand basic message. The translation of a given text from one language to another using a computer is termed as machine translation. During 2013–2016, the demand for MT was the highest from the military & defense sector. Presently, security forces are deployed in areas where numerous regional languages are spoken, and to effectively communicate with the local population, machine translation becomes a necessity for them. Therefore, armies are provided with a foreign language translation system to enable them to understand speech or text in different languages. © P&S Intelligence. All rights reserved 3

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