Global AI Translation Market Overview:
AI translator is the digital tool which uses advanced artificial intelligence to translate the words that are written or spoken, and also to translate the meaning (and sometimes sentiment) of the message. It results in greater accuracy and fewer misunderstandings than while using simple machine translation. The technology works well due to the ability of managing large amount of data and offers higher quality results.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Penetration of Technological Giants, Such as Google, Baidu, Lionbridge, and Systran,
Market Growth Drivers:
Increasing Need for Cost Efficiency and High-Speed Translation and High Accuracy and Quality
Challenges:
Higher Competition among the Players
Restraints:
Availability of Alternative Solution for Translations
Opportunities:
Demand for Content Localisation and Rising Requirement for Better Marketing Communications
Competitive Landscape:
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Google (United States), Facebook (United States), Microsoft (United States), SoundAI (China), MI (China), Rozetta (Australia), Alibaba (China), NetEase (China), Souhu (China) and Tencent (China). Additionally, following companies can also be profiled that are part of our coverage like ByteDance (China). Analyst at AMA Research see United States Players to retain maximum share of Global AI Translation market by 2028.
Latest Market Insights:
In January 2020, Google has acquired AppSheet which is the intelligent no-code platform for business apps.
What Can be Explored with the AI Translation Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global AI Translation Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in AI Translation
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global AI Translation market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in AI Translation market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Software developers, Government associations, Research organisations, software vendors and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.