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North America Machine Translation Market Size to Cross USD 600 Million by 2024

Author : Ronak Bora | Published Date : 2020-09-24 

The research report on North America Machine Translation Market offers a thorough understanding on this industry with significant details subject to its overall foothold in the global landscape and its application across major end-user industries and sectors.

According to this report, North America machine translation industry recorded a remuneration of USD 200 million in 2017 and is likely to surpass USD 600 million by 2024, increasing at a considerable CAGR of 17%. Moreover, the document also lays focus on the vital information beneficial for various stakeholders in terms of the current market scenario, advancing technologies, expansive competitive landscape, industry strategies, growth prospects, and market segmentations.

Request for a sample of this report @ https://www.graphicalresearch.com/request/1071/sample

The report further offers an insight to various factors that are touted to drive the growth curve of this industry in the upcoming years, along with including crucial details of the ongoing trends that the industry is characterized by. The North American machine translation market, as given in the report, is divided on basis of technology, application, regional, and competitive landscape.

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. Recently, 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.

The North America machine translation market has been precisely diversified into U.S., Canada and its analysis has been briefly addressed in the given document. The report incorporates an analysis on various factors promoting the growth of regional markets, along with the future growth opportunities existing in every region, their growth rates over the projected timeframe, technologies used, regulatory reforms, and individual market share.

North America is the leading machine translation market globally owing to the abundant demands from the IT sector of the U.S. North America’s IT sector holds more than 60% of the regional market demand. This is attributed to the presence of IT technology giants in the region. IT companies are one of the major adopters of this technology for meeting the requirements of global customers. This is one of the major reasons for the market.

The machine translation market in North America is highly consolidated and is divided into myriad companies such as iFlytek, Sampark, Moravia IT, Microsoft Corporation, Google, Inc., and IBM Corporation. The research study incorporates comprehensive analysis on the sales spectrum of each of these firms, their tactics to sustain the position in the market, individual company profiles and market share, and stance in the global ecosystem.

Table of Content:

 

Chapter 4.North America Machine translation Market Size, by Application, 2013 – 2024

 

  • Automotive
  • Military & defense
  • Electronics
  • IT
  • Healthcare
  • Others

 

Chapter 5.North America Machine translation Market Size, by technology, 2013 - 2024

 

  • RBMT
  • SMT
  • Others

Browse key industry insights along with Full TOC @ https://www.graphicalresearch.com/table-of-content/1071/north-america-machine-translation-market

 

About Graphical Research:

Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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