©2018 Graphical Research. All rights reserved. Europe Machine Translation Market size may exceed $390mn by 2024: Graphical Research.

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Presentation transcript:

©2018 Graphical Research. All rights reserved. Europe Machine Translation Market size may exceed $390mn by 2024: Graphical Research

©2018 Graphical Research. All rights reserved. Key Insights from Europe Machine Translation Market :  Graphical Research says, Europe Machine Translation Market to reach USD 390 million by 2024  The Europe machine translation is projected to witness a substantial growth over the forecast period owing to the growing demand from the language service providers.  The increasing adoption of machine translation and speech recognition by the service providers has contributed significantly to the growth of the market. This is primarily attributed to the support from the EU financed programs.  The governments of EU economies are one of the major stakeholders in the Europe machine translation market.  The European Commission (EC) introduced online eTranslation services for civil workers in November 2017.

©2018 Graphical Research. All rights reserved. Continued...  Based on technology, the Europe machine translation market is projected to witness a strong growth in SMT-based systems. These systems yield results by finding similar patterns.  Some of the examples of such systems are open-source Moses system, Google Translate, and Bing Translator. These systems are much more natural when compared with RBMT systems.  The prominent players of the Europe machine translation market are Lionbridge, Sampark, Moravia IT, Lucy Software, Microsoft Corporation, Google Inc., IBM Corporation, and others.  Google and Microsoft are developing solutions to effectively translate documents in different languages.  Google’s NMT tool was initially launched in 2016 and is based on artificial neural network to decode the semantic data for multilingual translations.

©2018 Graphical Research. All rights reserved. Browse Full Market Research Report On, Europe Machine Translation Request for a Sample of this Research

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