Research and Markets: The Global Machine Translation Market to Grow At A CAGR Of 18.05 Percent over the Period 2012-2016
Research and Markets (http://www.researchandmarkets.com/research/p759d7/global_machine) has announced the addition of the "Global Machine Translation Market 2012-2016" report to their offering.
One of the key factors contributing to this market growth is the rapidly increasing content volume. The Global Machine Translation market has also been witnessing the transition from rule-based to statistics-based technique. However, the dominance of human translation could pose a challenge to the growth of this market.
The key vendors dominating this market space are Lionbridge Technologies, Inc., SDL International plc., and IBM Corp.
The other vendors mentioned in the report are Asia Online Pte. Ltd., Cloudwords Inc., Lighthouse IP Group, myGengo Inc., Lingotek Inc., Welocalize Inc., and Moravia IT.
TechNavio's research portfolio in the Engineering series includes reports on the CAM Market, GIS Market, CAD Market, Construction Equipment Market, MES Market, PLM Market, CAE Market, FEA Market, PDM Market, AEC Software Market
Commenting on the report, an analyst from TechNavio's Engineering team said: ''Several companies with a global presence do not have a dedicated multilingual website for every region in the globe. This might hinder their growth as several users across the globe might be proficient only in their native languages. The integration of the translation process in the project plan makes content translation for websites easier. Moreover, companies can develop multilingual glossaries, style guides, and document templates by integrating translation processes in the project plan. This will help them reduce the turnaround time of the translation process. The trend of integrating the translation process in the project plan is expected to have a steady impact on the growth of the Global Machine Translation market during the forecast period.''
According to the report, several companies across industries are in the process of creating multilingual web content in order to increase their regional user base. Multilingual web content will also enhance user satisfaction levels to a great extent. This is mainly because most users prefer to read the contents of websites in their regional language. Hence, several companies are relying on machine translation software to create multilingual web content and increase their online web traffic. The increasing need for multilingual web content is expected to drive the growth of the market during the forecast period.
For more information visit http://www.researchandmarkets.com/research/p759d7/global_machine