Machine Translation Market Analysis

Machine Translation Market Analysis

To get key market trends

  Download Free Sample

The on-premises segment recorded 52% of the machine translation market share in 2022. The collaborative efforts aimed at improving machine translations are driving the adoption of the on-premises deployment model.

For instance, in July 2023, Custom.MT, a platform for machine translation, and Smartling, an enterprise translation company that leverages AI, entered a collaborative technology integration initiative. This partnership allows mutual clients to expand their use of top-tier machine translation engines, enhancing the overall caliber of their translated content. As collaborative advancements continue to enhance the accuracy & efficiency of machine translations, the on-premises deployment model will gain traction for its tailored & secure solutions.

The healthcare segment accounted for 20% of the machine translation market share in 2022. Numerous healthcare facilities are introducing machine translation services to eliminate the language barrier faced by patients hailing from diverse ethnic backgrounds. For instance, in June 2023, the Texas Heart Institute launched a fresh translation technology on its websites. This innovation facilitates interactions in over 100 languages with the institute’s digital assets.

This AI service has been implemented on both texasheart.org and texasheartmedical.org through the use of a neural machine translation network. It translates heart-health information into diverse languages including Spanish, Vietnamese, Chinese, and Arabic. As this translation technology continues to cater to the healthcare sector, the market is slated to witness growth over the forecast timeline.

North America machine translation market held over 38% of the revenue share in 2022. The North American business environment is characterized by its diversity with companies often interacting with partners, customers, and clients who speak various languages. In this context, efficient cross-lingual communication is crucial for maintaining successful international relationships. Machine translation allows companies to swiftly translate contracts, emails, and reports, thereby facilitating smooth communication & collaboration across linguistic barriers. This capability is essential for thriving in the region's interconnected & multicultural business landscape.