Machine Translation Market - Forecast 2020 - 2025
Overview Machine Translation Market forecast to reach $1.58 billion by 2025, after growing at a CAGR of 13.06% during 2020-2025 owing to high adoption of machine translation technology in end-user verticals such as military and defense, automotive, healthcare and others for automated translation of source material into another language. Many companies have been adopting advanced technologies of hardware and software in order to improve speed and accuracy of machine translation. Growing requirement to localize the rising amount of content in the organizations to eradicate language barriers and to implement a cost-effective translation system in their business process are anticipated to boost the adoption rate of machine translation market size in the near future. The ability of translating different languages according to the customer preferences and lack of existing translators for several specialized fields and language combinations have been providing growth opportunities for the mac...