AI-Enabled Translation Service Market to Witness Major Growth by 2028 | AppTek, MemSource, ModelFront
Stay up to date with AI-Enabled Translation Service Market research offered by HTF MI.
PUNE, MAHARASHTRA, INDIA, September 26, 2023 /EINPresswire.com/ — HTF Market Intelligence published a new research document of 150+pages on “AI-Enabled Translation Service Market Insights, to 2028″ with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the AI-Enabled Translation Service market was mainly driven by the increasing R&D spending by leading and emerging player, however latest scenario and economic slowdown have changed complete market dynamics.
Some of the key players profiled in the study are AppTek (United States), Global Tone Communication (Taiwan), Language I/O (United States), Lilt (United States), MemSource (Czech Republic), ModelFront (United States), RWS (United Kingdom), SYSTRAN (South Korea), Tarjama (United Arab Emirates), Translated (Italy).
According to HTF Market Intelligence, the Global AI-Enabled Translation Service market to witness a CAGR of 19.8% during forecast period of 2023-2028. Global AI-Enabled Translation Service Market Breakdown by Application (Small and Medium Enterprise, Large Enterprise) by Type (Online Service, Offline Service) and by Geography (North America, South America, Europe, Asia Pacific, MEA). The AI-Enabled Translation Service market size is estimated to increase by USD 3252.6 Million at a CAGR of 19.8% from 2023 to 2028. The report includes historic market data from 2017 to 2022E. Currently, market value is pegged at USD 815.9 Million.
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Definition:
The AI-Enabled Translation Service Market refers to the sector of the language and technology industry that involves the development, provision, and utilization of translation services and solutions powered by artificial intelligence (AI) and machine learning technologies. These services use AI algorithms to automate and enhance the process of translating text or speech from one language to another, making translation faster, more accurate, and more efficient.
Market Drivers:
• Increasing Globalization and Rising Demand for Multilingual Content are the market drivers for this market
Market Opportunities:
• Investing in research and development to enhance language models, context understanding, and domain-specific translation capabilities can drive significant improvements in translation accuracy AI-enabled translation services can offer customization and pe
Market Challenges:
• There are some challenges that involve Language Complexity and Nuances and Accuracy and Quality Limitations
Market Restraints:
• AI-enabled translation services may struggle to provide accurate translations in specialized domains, such as legal, medical, or technical fields
The titled segments and sub-section of the market are illuminated below:
The Study Explore the Product Types of AI-Enabled Translation Service Market: Online Service, Offline Service
Key Applications/end-users of AI-Enabled Translation Service Market: Small and Medium Enterprise, Large Enterprise
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With this report you will learn:
• Who the leading players are in AI-Enabled Translation Service Market?
• What you should look for in a AI-Enabled Translation Service
• What trends are driving the Market
• About the changing market behaviour over time with strategic view point to examine competition
Also included in the study are profiles of 15 AI-Enabled Translation Service vendors, pricing charts, financial outlook, swot analysis, products specification &comparisons matrix with recommended steps for evaluating and determining latest product/service offering.
List of players profiled in this report: AppTek (United States), Global Tone Communication (Taiwan), Language I/O (United States), Lilt (United States), MemSource (Czech Republic), ModelFront (United States), RWS (United Kingdom), SYSTRAN (South Korea), Tarjama (United Arab Emirates), Translated (Italy)
Who should get most benefit from this report insights?
• Anyone who are directly or indirectly involved in value chain cycle of this industry and needs to be up to speed on the key players and major trends in the market for AI-Enabled Translation Service
• Marketers and agencies doing their due diligence in selecting a AI-Enabled Translation Service for large and enterprise level organizations
• Analysts and vendors looking for current intelligence about this dynamic marketplace.
• Competition who would like to benchmark and correlate themselves with market position and standings in current scenario.
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Quick Snapshot and Extracts from TOC of Latest Edition
Overview of AI-Enabled Translation Service Market
AI-Enabled Translation Service Size (Sales Volume) Comparison by Type (2023-2028)
AI-Enabled Translation Service Size (Consumption) and Market Share Comparison by Application (2023-2028)
AI-Enabled Translation Service Size (Value) Comparison by Region (2023-2028)
AI-Enabled Translation Service Sales, Revenue and Growth Rate (2023-2028)
AI-Enabled Translation Service Competitive Situation and Current Scenario Analysis
Strategic proposal for estimating sizing of core business segments
Players/Suppliers High Performance Pigments Manufacturing Base Distribution, Sales Area, Product Type
Analyse competitors, including all important parameters of AI-Enabled Translation Service
AI-Enabled Translation Service Manufacturing Cost Analysis
Latest innovative headway and supply chain pattern mapping of leading and merging industry players
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