Machine Translation Market- Booming Worldwide and Advancement Outlook
Market Segmentation By Technology SMT RBMT NMT Others (example-based machine translation (EBMT) and hybrid machine translation (HMT) By Deployment Type On-premises Cloud By Application Military & Defense Healthcare & Lifesciences Automotive Travel & Hospitality Legal & Law Firms Banking & Finance Electronics IT & Telecom Services Retail & Manufacturing Media & Entertainment Others Machine translation market is forecasted to witness a CAGR of over 6.0% during the period 2017–2023 to reach $195.4 million by 2023. Geographically, the market is expected to witness the fastest growth in the Asia-Pacific (APAC) region, mainly attributed to the rapid growth of overseas businesses, lucrative customer base, growing number of high-net-worth individuals (HNWIs), rising income levels, and prevalence of several languages in the region. Emerging demand for content localization to push the machine translation industry The machine ...