What is AI Translation Market?
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.
The market study is being classified by Type (Translation App and Translation Machine), by Application (Travel and Online Education) and major geographies with country level break-up.
Google (United States), Facebook (United States), Microsoft (United States), SoundAI (China), MI (China), Rozetta (Australia), Alibaba (China), NetEase (China), Souhu (China) and Tencent (China) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are ByteDance (China).
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. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global AI Translation market throughout the predicted period.
Analyst at AMA have segmented the market study of Global AI Translation market by Type, Application and Region.
On the basis of geography, the market of AI Translation has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Need for Cost Efficiency and High-Speed Translation
- High Accuracy and Quality
- Penetration of Technological Giants, Such as Google, Baidu, Lionbridge, and Systran,
- Availability of Alternative Solution for Translations
- Demand for Content Localisation
- Rising Requirement for Better Marketing Communications
- Higher Competition among the Players
Market Leaders and some development strategies
In January 2020, Google has acquired AppSheet which is the intelligent no-code platform for business apps.
Key Target AudienceSoftware developers, Government associations, Research organisations, software vendors and Others
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