AI Translation Market Trends and Forecast
The future of the global AI translation market looks promising with opportunities in the travel and online education markets. The global AI translation market is expected to reach an estimated $4.8 billion by 2030 with a CAGR of 16.8% from 2024 to 2030. The major drivers for this market are increased demand for multilingual communication and localization in global businesses, growing adoption of AI in real-time translation for international collaboration and customer support, and rising need for accurate and context-aware translation solutions across digital content and platforms.
• Lucintel forecasts that translation app is expected to witness higher growth over the forecast period.
• Within this market, travel is expected to witness the higher growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the AI Translation Market
• USA - Google and Microsoft enhance AI translation capabilities for Google Translate and Microsoft Translator. Government targets include supporting AI research grants and promoting language technology in education.
• China - Baidu and Alibaba develop AI translation tools for cross-border e-commerce and global communication. Government targets aim at AI technology leadership and international language services.
• France - DeepL and Systran innovate AI translation solutions for legal and medical sectors. Government initiatives support AI in language technology research and development grants.
• Japan - NTT and Fujitsu advance AI translation services for tourism and business sectors. Government targets include AI technology adoption in cultural exchange and international relations.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
AI Translation Market by Segment
The study includes a forecast for the global AI translation market by type, application, and region.
AI Translation Market by Type [Value from 2018 to 2030]:
• Translation App
• Translation Machine
• Others
AI Translation Market by Application [Value from 2018 to 2030]:
• Travel
• Online Education
• Others
AI Translation Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of AI Translation Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies AI translation companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the AI translation companies profiled in this report include-
• MI
• Rozetta
• Google
• Facebook
• Microsoft
• Alibaba
• Netease
Recent Development in the AI Translation Market
• Google: Google enhances its AI translation capabilities with the launch of improved neural machine translation models, providing more accurate and natural language translations.
• Microsoft: Microsoft integrates AI-powered translation services across its platforms, including Azure Cognitive Services and Office applications, to facilitate multilingual communication and document translation.
• DeepL: DeepL introduces AI translation tools with advanced neural networks for high-quality translations in multiple languages, focusing on accuracy and natural language fluency.
• Baidu: Baidu develops AI translation technologies tailored for Chinese-English language pairs, leveraging deep learning algorithms for real-time translation applications in global markets.
Features of the Global AI Translation Market
Market Size Estimates: Ai translation market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Ai translation market size by type, application, and region in terms of value ($B).
Regional Analysis: Ai translation market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the AI translation market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the AI translation market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the AI translation market size?
Answer: The global AI translation market is expected to reach an estimated $4.8 billion by 2030.
Q2. What is the growth forecast for AI translation market?
Answer: The global AI translation market is expected to grow with a CAGR of 16.8% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the AI translation market?
Answer: The major drivers for this market are increased demand for multilingual communication and localization in global businesses, growing adoption of AI in real-time translation for international collaboration and customer support, and rising need for accurate and context-aware translation solutions across digital content and platforms.
Q4. What are the major segments for AI translation market?
Answer: The future of the global AI translation market looks promising with opportunities in the travel and online education markets.
Q5. Who are the key AI translation market companies?
Answer: Some of the key AI translation companies are as follows:
• MI
• Rozetta
• Google
• Facebook
• Microsoft
• Alibaba
• Netease
Q6. Which AI translation market segment will be the largest in future?
Answer: Lucintel forecasts that translation app is expected to witness higher growth over the forecast period.
Q7. In AI translation market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the AI translation market by type (translation app, translation machine, and others), application (travel, online education, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to AI Translation Market, AI Translation Market Size, AI Translation Market Growth, AI Translation Market Analysis, AI Translation Market Report, AI Translation Market Share, AI Translation Market Trends, AI Translation Market Forecast, AI Translation Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.