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Machine Translation Market Size to Grow USD 1098.8 Million by 2029 With a CAGR of 12.5% | Valuates Reports

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BANGALORE, India, Oct. 13, 2023 /PRNewswire/ — Machine Translation Market Is Segmented By Type ( Cloud,on Premise),by Application (B-end Customer,c-end Customer,government And Defense): Global Opportunity Analysis And Industry Forecast, 2023-2029. It Is Published In  Valuates Reports Under The Category Of Foreign Language Resources

The global Machine Translation market is projected to reach USD 1098.8 million in 2029, increasing from USD 487.1 million in 2022, with a CAGR of 12.5% during the period of 2023 to 2029.
Major Factors Driving the Growth of Machine Translation Market:
Strong growth in the machine translation market has been fueled by rising worldwide connectivity and the need for multilingual communication. This expansion has been spurred by elements including the use of artificial intelligence, automation, and the demand for effective and affordable translation solutions across numerous sectors.
A crucial factor in removing language barriers and advancing multilingual communication on a worldwide scale, developments like the greater usage of machine translation and post-editing further highlight its growing relevance in the language and translation sector.
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TRENDS INFLUENCING THE GROWTH OF THE MACHINE TRANSLATION MARKET
The growing need for multilingual content is one of the main factors driving the Machine Translation (MT) industry. To reach a wider audience, companies and people are increasingly attempting to translate their information into different languages. In response to the rising need for multilingual content, this trend has resulted in a boom in the adoption of MT solutions, which can quickly and affordably translate information into several languages. The growing need for multilingual content is one of the main factors driving the Machine Translation (MT) industry. To reach a wider audience, companies and people are increasingly attempting to translate their information into different languages. The use of MT solutions, which can accurately and affordably translate text into many languages, has increased as a result of this trend.
Worldwide, mobile software and applications are becoming incredibly popular. The rising demand to localize these applications for various locations would help the MT industry in 2023. Developers may access a worldwide user base by localizing user interfaces, content, and documentation to certain languages and cultures via machine translation. Additionally, international enterprises and e-commerce platforms are extending their reach. Machine translation has become an essential tool for aiding worldwide growth since these companies need effective and scalable translation solutions to engage with foreign clients and partners.
In order to efficiently provide multilingual service, businesses are integrating machine translation into their customer support systems. The necessity to serve a variety of consumer bases while improving customer happiness and experience is what is driving this trend. To simplify international company operations, machine translation is used for activities including translating papers, websites, and communication materials.
B-end clients frequently look for affordable and effective translation solutions to serve a worldwide audience. The necessity from this market (B-end clients) propels the creation of user-friendly, adaptable machine translation solutions suited to corporate requirements. These products facilitate multilingual company communication, increase market reach, and improve operational efficiency. In order to streamline international corporate operations, machine translation is used for activities including translating papers, websites, and communication materials. B-end clients frequently look for affordable and effective translation solutions to serve a worldwide audience. The necessity of this industry promotes the creation of user-friendly, adaptable machine translation solutions suited to corporate requirements. These products facilitate multilingual company communication, increase market reach, and improve operational efficiency.
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MACHINE TRANSLATION MARKET SHARE ANALYSIS
The machine translation market has seen tremendous growth in North America. Machine translation technologies have been developed as a result of the region’s many IT firms and strong focus on innovation. Due to the region’s diversified linguistic terrain, there is a significant market need for localization and multilingual content in North America.
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KEY PLAYERS
ApptekAsia OnlineCloudwordsIBMLighthouse IPLingo24LingotekLionbridge TechnologiesLucy Software and ServicesMoraviaGet Customized Report:
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SIMILAR REPORTS
–  Translation Apps Market
–   The global Machine Foreign Language Translation Systems market is projected to reach USD 1071 million in 2029, increasing from USD 489.2 million in 2022, with the CAGR of 12.2% during the period of 2023 to 2029.
–  Machine Translation-Based Intelligent Services Market
–  The global Machine Translation Software market is projected to grow from USD 817.5 million in 2023 to USD 1627.5 million by 2029, at a Compound Annual Growth Rate (CAGR) of 12.2% during the forecast period.
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–  AI Language Translation Services Market
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–  The global Computer-aided Translation Software market was valued at USD 412.8 million in 2022 and is anticipated to reach USD 1032 million by 2029, witnessing a CAGR of 16.5% during the forecast period 2023-2029
–  AI Translation Market
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–  The global Digital Process Automation market size is projected to reach USD 11770 Million by 2027, from USD 6451.8 Million in 2020, at a CAGR of 8.5% during 2021-2027.
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–  The global Machine Learning market was valued at USD 21040 million in 2022 and is anticipated to reach USD 140610 million by 2029, witnessing a CAGR of 37.3% during the forecast period 2023-2029.
–  The Global Natural Language Processing (NLP) market size is projected to reach USD 3081.5 million by 2028, from USD 843 million in 2021, at a CAGR of 20.1% during 2022-2028.
–  The global Application Modernization Services market is projected to reach USD 50440 Million by 2028 from an estimated USD 21690 Million in 2022, at a CAGR of 15.1% during 2023 and 2028.
–  On-Premise Machine Translation Market
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–  The global Simultaneous Interpretation Hardware Equipment market is projected to reach USD 487 million in 2029, increasing from USD 250 million in 2022, with the CAGR of 6.7% during the period of 2023 to 2029
–  The global Translational Regenerative Medicine market was valued at USD 12230 million in 2022 and is anticipated to reach USD 30580 million by 2029, witnessing a CAGR of 13.5% during the forecast period 2023-2029.
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Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that’s why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.
To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.
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Artificial Intelligence

Sendbird Unveils Easy-to-Use AI Chatbot Tailored for Small Businesses

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SEOUL, South Korea, Feb. 28, 2024 /PRNewswire/ — Sendbird, a leading communications platform for web and mobile apps, has launched its AI chatbot, designed for easy setup and tailored to help small-to-medium-sized businesses (SMBs)  in various customer-facing sectors like e-commerce and healthcare. This affordable, no-code solution aims to enhance customer engagement and support. Businesses can access an AI chatbot starter package offering features such as chatbot personas creation, knowledge enrichment, workflow integration, and performance tracking analytics, all without requiring technical skills.

Furthemore, Sendbird has unveiled a developer-centric Pro package, which simplifies mobile app integration and provides more workflows and function calls for third-party software connections. These connections empower the AI chatbot to expand its capabilities and improve the competitiveness. For instance, the AI chatbot can offer personalized recommendations for flights, accommodations, or products.
Sendbird’s no-code AI chatbot seamlessly integrates with Sendbird Desk, its in-app chat customer service solution, providing businesses with a unified sales or support desk. This integration boosts automated efficiency while maintaining a nuanced understanding of human support, leading to swifter, more accurate responses and increased customer satisfaction.
Built on a real-time communication platform trusted by industry leaders like Rakuten, Paytm, Traveloka, Carousell, PayPay, Yahoo, DoorDash, Krafton, Sendbird’s AI chatbot ensures seamless integration with both websites and mobile applications. This enables businesses to streamline support processes, save time, and allocate resources effectively, exceeding customer expectations.
Sendbird CEO and Co-founder John S. Kim emphasizes the importance of making AI accessible to SMBs, stating, “Today, large enterprises and consumer brands effectively use AI to engage with their customers. But there is no way for a small company to compete. What we aim to do with our no-code AI chatbot is to make that technology accessible to SMBs.”
To explore the benefits firsthand, businesses can access a free trial of Sendbird’s AI chat bot at sendbird.com/products/ai-chatbot. Additionally, to enhance superior customer support and engagement further, go to Sendbird Desk at sendbird.com/products/customer-support.
About Sendbird
Sendbird is the all-in-one communication platform empowering web and mobile applications with customizable user experiences. Sendbird’s cutting-edge APIs unlock the potential of AI-powered chatbots, one-way notification messages, chat, video calls and live streaming, tailored for use in commerce, marketing, and exceptional customer support. Trusted by industry leaders such as Rakuten, Paytm, Traveloka, Carousell, PayPay, Yahoo, DoorDash, and Krafton, Sendbird powers over 7 billion interactions monthly for over 4000+ applications worldwide.
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Vieworks Unveils Cutting-Edge X-ray Imaging Solutions at ECR 2024

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ANYANG, South Korea, Feb. 27, 2024 /PRNewswire/ — Vieworks, a leading provider of medical and industrial X-ray imaging solutions, is gearing up to showcase its innovative lineup at the European Congress of Radiology (ECR) 2024, scheduled from February 28 to March 3 in Vienna, Austria. Vieworks will introduce a range of groundbreaking solutions including the VXvue software with AI diagnostic support for both human and veterinary applications, alongside X-ray flat panel detectors (Hall X3, Booth 324).

At the exhibition, Vieworks will unveil a total of 19 products, featuring 15 static and dynamic flat panel detectors accompanied by dedicated image acquisition software. Particularly noteworthy will be the introduction of the enhanced VXvue software integrated with AI diagnostic support solutions. 
Vieworks’ large-format and large-area detector products (VIVIX-S 1751S, VIVIX-S 4747V) are designed to optimize full-spine, half-body, and large-area imaging, offering static image detectors capable of capturing wider area images in a single scan compared to conventional models, thereby reducing patient radiation exposure. With advantages such as high resolution and swift image acquisition, these detectors enable more efficient diagnosis.
In addition to these innovations, Vieworks will showcase a variety of its flagship products, including FPDs for general radiography (VIVIX-S V, VIVIX-S F series), portable C-arms and fluoroscopy applications (VIVIX-D series), and digital detectors for breast examination (VIVIX-M series).
Developed in-house by Vieworks, VXvue is a user-centric image processing software designed to post-process clinical images acquired through X-ray detectors. With recent enhancements, VXvue can analyze X-ray clinical images of animals such as dogs and cats, providing abnormal findings related to musculoskeletal and thoracic diseases within 15 seconds. By offering post-processing of images along with information on the location of ailments and their probability, VXvue is poised to significantly improve the diagnostic process for veterinarians.
VXvue also offers advanced solutions for human application, incorporating the ‘PureImpact™’ technology, a high-performance image processing algorithm that enhances image clarity, and AI. This enables detailed depiction of soft tissue and skeletal structures with minimal radiation exposure.
A Vieworks spokesperson stated, “This year, we will continue to invest in innovative technologies such as AI to advance our product diversification and technological sophistication. Through these efforts, we aim to secure loyalty from our key customers in North America and Europe and expand our market share.”
ECR, regarded as one of the world’s largest congresses alongside the Radiological Society of North America (RSNA), anticipates participation from over 240 companies representing 35 countries.
About Vieworks Co., Ltd.
As a global leader in digital imaging in various applications from medical x-ray imaging to industrial x-ray inspection, Vieworks offers the most advanced x-ray flat panel detectors and software as a solution to the world. Vieworks creates new standards in the imaging industry by providing professionals with the most valued and high-quality images and offering innovative vision and insight for all. For more information, please visit xrayimaging.vieworks.com.
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Artificial Intelligence

Geotab Brings Conversational AI to Connected Transportation Solutions at Mobile World Congress

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Demonstrates Geotab Ace with AI capabilities to interpret complex data with natural-language processing – a game-changer in connected vehicle transformationEnables fleets to make faster data-driven decisions based on safety, route planning, maintenance schedules, sustainability, and moreVisit us for the Geotab Ace demo on the Ontario Canada exhibition in Hall 7, 7G61, Kiosk 11 at MWC
BARCELONA, Spain, Feb. 27, 2024 /CNW/ – Geotab Inc. (“Geotab”), a leading connected vehicle technology provider, will demonstrate its industry-first generative AI assistant for connected transportation, Geotab Ace, at Mobile World Congress. Geotab Ace is fueled by data-led AI processing capabilities analyzing more than 75 billion data points daily across global telecoms networks. Deeply integrated into MyGeotab, Geotab Ace instantly generates insights, while democratising and streamlining access to information to unlock new value from fleet data. 
Geotab Ace was launched earlier this month at Geotab Connect, with the first public demonstrations of the AI copilot being debuted at Mobile World Congress. Geotab Ace has access to an expansive array of insights, including predictive safety analytics, predictive maintenance, trip data, zone activity, electric vehicle statistics, exception events, GPS tracking, and more. This allows it to provide nuanced answers to a broad range of complex questions while remembering past interactions to improve future responses. Geotab Ace is built on privacy-by-design principles and keeps all customer telematics data within Geotab’s environment, never shared with any Large Language Model (LLM).
Enhancements to the user experience include tailored insights through intuitive dialogue with natural language processing – allowing organizations with fleets to extend on-demand insights in areas including safety, operations, maintenance, efficiency, and sustainability to assess the performance of their vehicles, assets, drivers, and more in simple, easy-to-understand terms.
Fleets can now significantly reduce the time taken to gain insights and access customized data reflections that are tailored to their specific needs, enhancing their capacity and expediency for making data-driven decisions.
“By bringing the intuitive simplicity of conversational AI directly into the Geotab platform, we are transforming the way fleets interact with their data, crafting a future where insights are immediate, intelligent, and instrumental to success,” said Edward Kulperger, Senior Vice President, Geotab EMEA. “It embodies our mission to simplify data analysis and unlock a world of trustworthy, insightful and actionable fleet intelligence.”
Geotab’s position as an industry trailblazer is reinforced by its 4 million globally connected vehicles, 50,000 customers across 160 countries, and an extensive telecoms carrier and partner network. This depth of expertise and global scale enables the company to develop unprecedented AI models, unlocking unmatched value and efficiency for fleets around the world.
Geotab Ace will be available to be experienced hands-on in the Ontario (Canada) Pavilion in Hall 7, 7G61, Kiosk 11 at Mobile World Congress from February 26 – 29, 2024.
To learn more about Geotab Ace, visit https://www.geotab.com/uk/ace/..
About GeotabGeotab is a global leader in connected transportation solutions. We provide telematics — vehicle and asset tracking — solutions to over 50,000 customers in 160 countries. For more than 20 years, we have invested in ground-breaking data research and innovation to enable partners and customers, including Fortune 500 and public sector organizations, to transform their fleets and operations. With over 4 million subscriptions and processing more than 75 billion data points a day, we help customers make better decisions, increase productivity, have safer fleets, and achieve their sustainability goals. Geotab’s open platform and Marketplace offers hundreds of third-party solution options. Backed by a team of industry-leading data scientists and AI experts, Geotab is unlocking the power of data to understand real-time and predictive analytics — solving for today’s challenges and tomorrow’s world. To learn more, visit www.geotab.com, follow @GEOTAB on Twitter and LinkedIn, or visit the Geotab Blog.

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