AI Translation Market Size, Latest Trends, Analysis and Forecast Report to 2027
AI translation is type of advanced artificial intelligence which not only translate words that are written or spoken, but also translate the meaning of the message. AI translation gives greater accuracy and fewer misunderstandings than simple machine translation. AI translation is based on text-to text translation and speech recognition which converts words, phrase, as well as paragraph into another language.
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For a better understanding of the AI Translation market, a better grip over the macroeconomic and microeconomic factors are needed as they are impacting the market towards progress. Those factors can ensure a swift helming of the market by rough patches of economic crisis and help in averting plummeting results. With real-time data, the report captures the essence of the market and provides a close reading of demographic changes. Report would assist key players in assessing growth opportunities and optimally use resources provided by growth pockets.
Market Drivers
Increase in growth of emerging economies as well as internationalization of many businesses that want to offer their content, products, and services in many languages as possible which is consider as key driving factor which is expected to boost the global AI translation market growth. Furthermore, by using AI translation technology, the text and spoken words are translated at faster speeds; multiple translation organizations use it in order to generate multilingual content. Also, this technology increases the productivity of translators when performing translation, localization and terminology work. Furthermore, increase in demand for content localization will positively contribute the market growth. Moreover, increase in need for cost-effective and high speed translation will fuel the market growth over the forecast period. In addition that, growing importance of cloud computing has resulted in increase in demand for cloud based translation tools which is expected to propel the global AI translation market growth.
Market Restraints
However, high cost of AI translators is the major challenging factor which is expected to hinder the global AI translation market growth. Also, data security and privacy concerns will affect the market growth during this analysis period.
Market Key Players
Various key players are discussed in this report such as IBM Corporation, Microsoft Corporation, SDL PLC, Lionbridge Technologies, Lighthouse IP Group, Google, Omniscien Technologies Inc, TransPerfect, LanguageLine Solutions,and RWS Holdings.
Market Taxonomy
By Technology
- Machine Translation
- Neural Machine Translation
- Voice Recognition
- Others
By Deployment Type
- On-Premise
- Cloud
By End User
- Automotive
- Military & Defense
- Electronics
- Information & Technology
- Healthcare
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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