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Machine Translation Market worth USD 1.48 Billion By 2022 | Crystal Market research

The latest trending report published by Crystal Market Research titled, Machine Translation Market approximates that the Machine Translation Market size is estimated to flourish at a significant CAGR in the future, and this is attributed to the escalation in need for this product across the globe along with novel innovations in the market.

Report Overview:
The Global Machine Translation Market was worth USD 0.25 billion in the year 2012 and is expected to reach approximately USD 1.48 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 19.40% during the forecast period. Expanding interest for cost productivity in translation, developing volume of site content, and the huge measure of dialect learning required surpasses the limit of human translation, which thusly is relied upon to fuel the machine translation market.

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The costs of machine translation are relatively low in comparison to conventional human translation. It is additionally quicker than human translation and usually utilized for high-volume content that would alternatively take enormous assets for translation, which is foreseen to drive the machine translation market. Accessibility of translation engines that are free such as Google Translate and Microsoft Bing and absence of exactness of translation may inhibit market development.

The report Machine Translation Market renders a wide-ranging analysis of the said market in terms of product, regional, application and end user segmentation. The report comprises of the present market size of this industry. Also, the potential outlooks and current market summary of this segment has been thoroughly analyzed in this report. Moreover, chief market players of the Machine Translation Market are studied on various factors like product portfolio, company profile, sales analysis, revenue generation through the forecast period.

Regional Outlook:
Government activities and the existence of an expansive number of specialist organizations have helped support market development in the United States. Google and Microsoft, the biggest suppliers of technology situated in the United States, have made the technology of statistical machine translation well known with their free online engines.

Top Major Market Players:
The major players in the market are Lionbridge, SYSTRAN and SDL plc.

Report’s Magnitude:
This report contains Segment wise in-depth analysis in terms several segments along with market size forecasts and approximations to observe significant areas of industry growth in detail. Additionally, an executive summary, summarizing the entire report in such a way that decision-making team can speedily become familiar with background information, summarizing analysis and main conclusions.

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About Crystal Market Research:
Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.

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News Release: Machine Translation Market worth USD 1.48 Billion By 2022 | Crystal Market research
Submitted on: March 07, 2018 07:18:25 AM
Submitted by: Robin
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