Machine Translation (Mt) Market Shares and Size, Market Strategies and Analysis, Business Overview and Market Forecasts, 2016 to 2025

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Machine Translation (MT) Market Shares and Size, Market

Strategies and Analysis, Business Overview and Market

Forecasts, 2016 to 2025

The global machine translation market is expected to reach USD 983.3 million by 2022. Technological

advancements have led to the development of sophisticated translation technology with minimal errors

and grammatical coherence, which has considerably widened the scope for machine translation. The

ability to rapidly, seamlessly and cost-effectively translate documents and content in regional languages

has spurred the machine translation market over the past few years.

The provision of machine translation Software-as-a-Service (MTSaaS) over secure cloud offerings hosted

in data centers is expected to offer substantial growth opportunity for the market. Increasing

prominence of cloud computing has resulted in growing demand for cloud-based translation tools,

which is further expected to boost the machine translation market. Constant R&D and technological

advancements have enabled the technology to seamlessly integrate into a range of products from

enterprise-level systems to consumer devices. Upgrading of communication networks and the rising

proliferation of smartphones has led to the introduction of machine translation apps that provide

instant translation of multilingual text.

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Further key findings from the study suggest:

Electronics and automotive industries are expected to gain significant market share by 2022. Application

of machine translation in healthcare is expected to gain market share over the...