The report on the AI Translation Market, as found on Qualiket Research website, is in- depth analysis of the market dynamics which are impacting both present market as well as the upcoming. The market dynamics are anticipated to provide lasting impression on the holistic growth of the target market. This report has been analysed well by adept market reviewers through the immense knowledge and the expertise in the subject. The analysis would bring along factors & figures to track the market would take over the forecast period of 2021-2028. It is enriched with different aspects which have their core in volume-wise & value-wise analysis. Also, several other factors have been included to measure the growth chart of the AI Translation Market & they are various projections, historic details, demographic changes, and others. At the same time, the AI Translation Market would include the tactical moves launched by market titans to solidify their own stand in the market and ensure a comprehensive overcoming of barriers posed by different market deterrents. This type of an analysis is anticipated d to provide a credible outlook & outlining regarding the market to secure that the potentials have been capitalized to the fullest.
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AI translation is type of advanced artificial intelligence which not only translate words that are written or spoken, but also translate the meaning of the message. AI translation gives greater accuracy and fewer misunderstandings than simple machine translation. AI translation is based on text-to text translation and speech recognition which converts words, phrase, as well as paragraph into another language.
The report contains a thorough study of the global AI Translation Market. It has successfully pointed out the key AI Translation Market factors that have substantial impact on the AI Translation Market. This report is based on result of a well-planned research methodology. The methodology employed both primary and secondary research tools. These tools aid the researchers to collect authentic data and arrive at a definite conclusion. The prevailing competitors in the global has also been portrayed in the report, offering an opportunity to the market players to gauge their performance. The report has been prepared after studying the different parameters ruling the global AI Translation Market and the forecast period has been estimated from 2021-2028.
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Increase in growth of emerging economies as well as internationalization of many businesses that want to offer their content, products, and services in many languages as possible which is consider as key driving factor which is expected to boost the global AI translation market growth. Furthermore, by using AI translation technology, the text and spoken words are translated at faster speeds; multiple translation organizations use it in order to generate multilingual content. Also, this technology increases the productivity of translators when performing translation, localization and terminology work. Furthermore, increase in demand for content localization will positively contribute the market growth. Moreover, increase in need for cost-effective and high speed translation will fuel the market growth over the forecast period. In addition that, growing importance of cloud computing has resulted in increase in demand for cloud based translation tools which is expected to propel the global AI translation market growth.
However, high cost of AI translators is the major challenging factor which is expected to hinder the global AI translation market growth. Also, data security and privacy concerns will affect the market growth during this analysis period.
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Global AI Translation Market is segmented into technology such as Machine Translation, Neural Machine Translation, Voice Recognition, and Others, by deployment type such as on-Premise, and Cloud. Further, market is segmented into end user such as Automotive, Military & Defense, Electronics, Information & Technology, Healthcare, and Others.
Also, Global AI Translation Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as
- IBM Corporation,
- Microsoft Corporation,
- SDL PLC,
- Lionbridge Technologies,
- Lighthouse IP Group,
- Omniscien Technologies Inc,
- Language Line Solutions ,and
- RWS Holdings.