1. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Machine Translation Market to hit $1.5bn by 2024: Fractovia.org

2. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com  The global Machine Translation Market share report provides numbers for applications and regional segments of the industry covering historical as well as forecast data for decision makers.Machine Translation Market  The world today has become a smaller, connected, and more dynamic place than before, and the progressive growth of machine translation market is one of the key reasons contributing to this fact. Major companies are aiming to spread their business across the globe without the constraint of a communication barrier, and machine translation industry is contributing remarkably toward this cause. MT tools help people communicate with each other and decode unknown languages, owing to which companies find it easier to communicate with clients, improve relationships with customers, and help the company gain profits. As per the report by Global Market Insights, “Worldwide machine translation market was worth USD 400 million in 2016 and will surpass a revenue collection of USD 1.5 billion by 2024 with an annual growth rate of 19% over the coming years of 2017 to 2024.” Key Insights of Machine Translation Market:

3. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com  Machine translation industry encompasses a wide variety of application areas such as electronics, healthcare, IT, automotive, and military & defense. The notable e-commerce industry giants such as eBay, Alibaba, Amazon are using MT technology to expand their business base across the globe, which will fuel machine translation market share from e- commerce applications. Healthcare applications are predicted to exhibit considerable growth rate over the coming seven years, owing to rising clinical and research activities across the medical sector.  Based on technology, machine translation market is mainly divided into RBMT and SMT. SMT covered more than 60% of the industry share of technology segment. The increasing usage of this technology across the commercial sector will boost the product demand significantly. RBMT technology segment will record an annual growth rate of 14% over the period of 2017 to 2024, attributed to its growing application as a language translation tool.  Geographically, U.S. machine translation market will generate noticeable revenue over the coming timeframe, owing to the availability of more service providers across this region. Moreover, supportive initiations taken by some of the governmental agencies such as the Defense Advanced Research Projects Agency (DARPA) in terms of funding will also favor the industry growth. Continued…

4. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Browse Full Market Research Report Of Machine Translation Market @ http://bit.ly/2hzv4FBhttp://bit.ly/2hzv4FB Request for a Sample of this Research report @ https://www.fractovia.org/request-sample/407

5. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com U.S. Machine Translation Market Share, By Application, 2016

6. © 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com  Asia Pacific machine translation industry size will register a flourishing growth rate over the coming years, primarily driven by the product’s surging demand to reduce the communication barrier pertaining to the presence of more number of local languages. India and China will contribute significantly toward APAC growth.  The key participants in machine translation market are Lionbridge Technologies Inc., Moravia IT, Google Inc., Microsoft Corporation, IBM Corporation, and Systran International. Continued….

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