North America Machine Translation Market Trends, Demand, Survey till 2024

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North America Machine Translation Market to
generate over USD 600 mn revenue by 2024
Graphical Research
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2

Key Insights from North America Machine
Translation Market

• Graphical Research says, North America Machine
  Translation Market to cross 600 mn by 2024.
• North America is the leading machine translation
  market globally owing to the abundant demands
  from the IT sector of the U.S. North Americas IT
  sector holds more than 60 of the regional market
  demand.
• Machine translation is mainly used by large
  enterprises as the deployment of these systems
  requires high initial cost and resource
  allocation. Machine translation tools are used as
  content localization tool and are common in
  larger organizations. With smaller firms and
  organizations in North America, the trend of
  outsourcing such services has been observed.
• Moreover, the presence of several providers in
  the region backed by supportive government
  policies is driving the North America machine
  translation market. The increasing investments
  and developments in artificial intelligence and
  machine learning by technology giants will
  bolster the North America machine translation
  market.

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reserved.


www.graphicalresearch.com
3

Continued...

• On the basis of technology, the SMT segment has
  shown a lucrative growth over the forecast period
  in this region. Google translate and Microsoft
  translation use SMT machine translation
  technology for its online services and
  applications.
• When Google Translate was first launched,
  Phrase-Based Machine Translation (PBMT) was used
  as a key algorithm. PMBT algorithm works by
  splitting sentences into phrases and words that
  can be translated mainly autonomously. This is
  considered as the simplest and most popular
  version of SMT.
• Major companies in the machine translation market
  in North America are IBM, Microsoft, and Google.
  In October 2017, Google launched Pixel Buds, a
  real-time translator that connects web search and
  connectivity incorporated with a built-in Google
  Assistant and Google Translate capable of
  translating 40 different languages.

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reserved.


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4
North America Machine Translation Market
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