What is the current size and annual growth rate of the ai in language translation market?
The AI in language translation market size has grown exponentially in recent years. It will grow from $2.34 $ billion in 2024 to $2.94 $ billion in 2025 at a compound annual growth rate (CAGR) of 25.2%. The growth in the historic period can be attributed to advancements in machine learning and neural networks, increased globalization, development of natural language processing (NLP) technologies, growth of the Internet and digital content, and improved computational power and cloud computing.
The AI in language translation market size is expected to see exponential growth in the next few years. It will grow to $7.16 $ billion in 2029 at a compound annual growth rate (CAGR) of 25.0%. The growth in the forecast period can be attributed to increasing globalization, advancements in natural language processing (NLP), rising demand for multilingual customer support, integration with other technologies, and e-commerce expansion. Major trends in the forecast period include increased adoption of neural machine translation (NMT), expansion of multilingual capabilities, integration with voice recognition and speech-to-text technologies, growth in e-commerce and global business and personalized and context-aware translations.
Get Your Free Sample of The Global AI in Language Translation Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=19276&type=smp
Which major factors have contributed to the expansion of the ai in language translation market?
The expansion of e-commerce is expected to propel the growth of the AI in language translation market going forward. E-commerce refers to the buying and selling of goods and services over the internet, encompassing various online business models. It enables transactions between businesses, consumers, and other entities through digital platforms. E-commerce is expanding due to growing internet and smartphone penetration, increasing consumer preference for online shopping, advancements in payment and logistics solutions, and the convenience of shopping from home. AI in language translation enhances e-commerce by enabling accurate and efficient multilingual communication, thereby improving the customer experience and expanding global reach. For instance, in May 2024, according to the Census Bureau of the Department of Commerce, a US-based government department, in the first quarter of 2024, U.S. retail e-commerce sales reached $289.2 billion, marking a 2.1% increase (0.7%) from the fourth quarter of 2023. Therefore, the growth of online shopping and e-commerce platforms is driving the growth of the AI in language translation market.
How is the ai in language translation market segmented?
The AI in language translationmarket covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment Mode: Cloud-Based, On-Premise
3) By End-Use: Commercial Use, Personal Use
Subsegments:
1) By Software: Machine Translation Software, Neural Machine Translation (NMT) Software, Statistical Machine Translation (SMT) Software, Rule-Based Machine Translation Software, Cloud-Based Translation Software, Translation Memory Software, Post-Editing Software, AI-Powered Language Translation Apps
2) By Services: Translation As A Service (TaaS), AI-Powered Language Localization Services, Language Model Training Services, Post-Editing And Proofreading Services, Data Annotation Services, Consulting And Customization Services, Multilingual Support Services, Cloud Translation Platform Integration Services
Order your report now for swift delivery
https://www.thebusinessresearchcompany.com/report/ai-in-language-translation-global-market-report
Who are the top competitors in the ai in language translation market?
Major companies operating in the AI in language translation market are Google LLC, Microsoft Corporation, Alibaba Group Holding Limited, Tencent Holdings Ltd., Amazon Web Services Inc., International Business Machines Corporation, Baidu Inc., Zebra Technologies, iFLYTEK, TransPerfect, Sogou Inc., Lionbridge, Appen Limited, DeepL, ABBYY LLC, Unbabel, Smartling, PhraseApp, SYSTRAN, Tilde, Lilt, Language I/O, Pangeanic, VerbalizeIt
Which key trends are expected to influence the ai in language translation market in the coming years?
Major companies operating in the AI in language translation market are focusing on developing advanced offerings, such as customizable language translators, to gain a competitive edge in the market. Customizable language translators are AI-driven or software-based tools that can be tailored to meet specific needs, such as adapting to particular industry jargon, regional dialects, or individual user preferences. For instance, in May 2024, Smartling Inc., a US-based translation company, launched its AI Translation Toolkit. This comprehensive solution is designed to improve translation quality, reduce costs, and shorten turnaround times. The toolkit incorporates various advanced features, including AI Translation Memory, which enhances translation memory capabilities by up to 35 percentage points, resulting in significant savings for clients. Additionally, the AI Glossary Term Insertion feature ensures the contextual and grammatically correct use of glossary terms while also automating content cleanups to minimize errors.
Which regional trends are influencing the ai in language translation market, and which area dominates the industry?
North America was the largest region in the AI in language translation market in 2024. The regions covered in the AI in language translation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The AI in Language Translation Market Report 2025 Offer?
The ai in language translation market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Artificial intelligence (AI) in language translation refers to the use of artificial intelligence technologies, such as machine learning and natural language processing, to automate and enhance the translation of text and speech between different languages. This technology enables faster, more accurate translations. It is widely used in industries such as business, travel, education, and media.
Purchase the exclusive report now to unlock valuable market insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=19276
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
