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The machine translation (MT) market size is forecast to increase by USD 1.23 billion at a CAGR of 15.89% between 2023 and 2028. The market is experiencing significant growth due to several key trends. The increasing demand for content localization in businesses and organizations is driving market growth, as companies expand their reach into new markets and seek to engage with customers in their native languages. Another trend is the rising use of multilingual AI, which is enabling more accurate and efficient translation services. Additionally, the availability of open-source machine translation service tools is making translation more accessible and affordable for businesses of all sizes. These factors are expected to continue fueling market growth in the coming years. Machine translation is revolutionizing the way businesses communicate with their global customers, enabling seamless cross-border interactions and fostering greater cultural understanding.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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