Machine Translation Market Analysis

End-user (Military & Defense, Automotive, E-Commerce, IT, Healthcare)

The global machine translation market is segmented and analyzed for demand and supply by end users into military & defense, automotive, e-commerce, IT, and healthcare. Out of the five types of end users, the military & defense segment is estimated to gain the largest market share in the year 2037. The growth of the segment can be attributed to the higher use of AI technologies and machine translation to communicate with the military forces of other countries. Machine translation is crucial in finding out information, helping others, and building connections with the country where we are not familiar with the knowledge local language. For instance, with the aid of a 600gm artificial intelligence-based device created by an Indian start-up, Indian soldiers patrolling the Line of Actual Control (LAC) may soon be able to understand Mandarin and respond back immediately. It was one of the 75 AI-enabled products and applications currently undergoing advanced evaluations with the Army.

Deployment (On-Premise, Cloud)

The global machine translation market is also segmented and analyzed for demand and supply by deployment into on-premise, and cloud. Amongst these two segments, the cloud segment is expected to garner a significant share in the year 2037. Globally, cloud services are used by around 94% of businesses. Moreover, approximately, 67% of business infrastructure is cloud-based. A multi-cloud strategy is in place or being developed by nearly 92% of enterprises. The growth of the segment is primarily attributed to the rising adoption of cloud services, which further facilitates the deployment of machine translation within the companies. The introduction of cloud coworking and machine translation technology, has the potential to lower operating costs. It permits the smooth use of technologies and machine translation techniques. Furthermore, the responsiveness is enhanced via cloud-based machine translation. As a result, a lot of businesses are moving their workload to the cloud.

Our in-depth analysis of the global market includes the following segments: