The machine learning industry in North America is slated for considerable expansion, thanks to the rising number of enterprises deploying the technology for promoting better accessibility to their product offerings. For instance, the tech-giant Google has been investing in machine translation to cater to the non-English speaking customer base in the region.
In July 2018, for instance, Google introduced its offline machine translation solution that can support more than 50 languages across translation applications. By 2024, the machine learning industry in North America is anticipated to surpass $600 million, thanks to the boom across quantum computing.
The following three factors have been fostering the growth of the machine translation market in North America:
Flourishing IT sector to generate continuous demand
The thriving IT industry of the United States has been garnering escalating demand for machine translation, accounting for over 60% of the regional industry share. The presence of leading industry providers including Microsoft, IBM, and Google in the region has also been responsible for a distinguished growth pace of the regional market.
Large organizations have been displaying growing demand for content localization which is fulfilled by the deployment of these services. Moreover, the development of advanced algorithms including the Phrase-Based Machine Translation (PMBT) is also responsible for the advancement of the North America machine translation industry forecast.
SMT segment to promise lucrative opportunities
The SMT segment is set to represent a major portion of industry share through the upcoming years. Statistical machine translation begins with a massive data set of previously approved translations. The corpus serves as a model for translation, whereby it is applied to untranslated data via a probability-driven match to produce a reasonable translation.
Huge global organizations such as the World Bank, the United Nations (UN), the World Health Organization (WHO), and the European Union (EU) require automatic deduction of a large-scale data. The demand from the UN, WHO, EU, and similar organizations, coupled with demand for domain-specific services, is expected to drive the segmental growth, enabling further proliferation of the North America machine translation industry share.
Healthcare industry to emerge as a key growth accelerator
Pushed by the recent global crisis of the COVID-19 pandemic, the healthcare sector has been exhibiting increasing demand for machine translation services. Machine translation tools are being used in the translation of patient brochures, educational content, doctor manuals, websites & portals, leaflets, among other communication materials.
Make an inquiry for purchasing this report @
These tools are also useful in effectively communicating with patients having Limited English Proficiency (LEP). Further, more advanced algorithms are entering the industry in order to prevent miscommunication risks posed by the earlier solutions. With the rising necessity to consult physicians and doctors online during and immediately after the COVID-19 episode, the growth of this segment is certain.
Thus, with the rapid advancement toward a technologically advanced future, North America is sure to witness a surging demand for machine translation services across multiple domains including government, ecommerce, legal, E-discovery, military & defense, finance, and software & technology.
Table of content:
Chapter 1.Methodology & Scope
- Market scope & definitions
- Research methodology
Chapter 3.Industry Insights
- Industry segmentation
- Industry ecosystem analysis
- Industry impact forces
- Growth drivers
- Growth restraints
- Regulatory overview
- Porter’s analysis
- PESTEL analysis
- Competitive landscape, 2017
Request for an in-depth table of contents for this report @