On 2024-9-14 Global Info Research released【Global AI Language Translator Tool Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030】. This report includes an overview of the development of the AI Language Translator Tool industry chain, the market status of Consumer Electronics (Nickel-Zinc Ferrite Core, Mn-Zn Ferrite Core), Household Appliances (Nickel-Zinc Ferrite Core, Mn-Zn Ferrite Core), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of AI Language Translator Tool.
AI translation uses a neural machine translation process that relies on neural networks and large language models. An AI-powered translation tool can understand a source text and generate output text in a different language. The larger the language model, the more precise the translation power of the online translator tool.
AI (Artificial Intelligence) translation
Uses contextual clues, semantic understanding, and a vast amount of data to train its models, to deliver translations that are more accurate and natural than traditional machine translation. Learns from feedback, improves over time, and even manages industry-specific terminology and slang in various languages.
Generative AI (GenAI) Translation
A subset of AI translation. Instead of simply translating an input into an output, generative AI can create new, unique translations. It learns from sequences of sentences, known as sequence-to-sequence learning. The most famous example of generative AI is ChatGPT. These tools are better at recognizing context and generating translations that accurately reflect the original content’s tone and meaning.
In addition to tracking companies like DeepL that specialize in deep learning translation, we also account for enterprises engaged in AI text responses and writing, such as OpenAI. Since AI translation is one of the functionalities of ChatGPT and the revenue generated from this segment cannot be separately identified, the total revenue of GenAI companies reported in this document is classified under artificial intelligence translation revenue. Looking ahead, the surge of innovative AI companies like ChatGPT is expected to create significant competition for traditional firms that focus exclusively on AI translation. This emerging trend will likely impact the dynamics of the AI translation market, reshaping competitive landscapes and influencing strategic directions within the industry.
The global AI Language Translator Tool market size is expected to reach $ 42710 million by 2030, rising at a market growth of 25.6% CAGR during the forecast period (2024-2030).
The main driving factor of the AI Language Translator Tool market is the increasing demand for real-time communication across different languages. This demand is fuelled by globalization, the rise of international business, and the need for effective communication in diverse cultural contexts. Other contributing factors include advancements in AI and machine learning technologies, which enhance translation accuracy and efficiency, and the growing use of AI-powered translation tools in various sectors such as healthcare, finance, Business trade, tourism and education.
North Americas occupied the largest market share, and the AI Language Translator Tool market size was valued at around US$ 2.05 billion in 2023. Europe is the second largest market, accounting for 22.40% of the global market share in 2023. The AI Translation Market in North America and Europe is experiencing rapid growth due to the increasing demand for translation services, the availability of advanced technology, and the increasing number of AI-based translation tools.
China is estimated to be the third largest market for AI Language Translator Tool, and China AI Language Translator Tool market size was expected to reach US$ 10.96 billion in 2030, with a CAGR of 31.61% over the period 2024 to 2030. Other major growth regions in Asia-Pacific include Japan, South Korea, Southeast Asia, India, etc. Especially in Southeast Asia and India, with the continuous growth of tourism and commercial trade, the market will maintain rapid growth in the future. Latin America, the Middle East and Africa occupy a relatively small market share. However, the growth of international trade in these regions in recent years has also driven the rapid development of the market.
The AI Language Translator Tool market is highly fragmented, with many traditional companies specializing in AI translation, such as DeepL, Google Cloud Translation, etc. With the advent of AI-generated enterprises, more and more AI-generated enterprise software tools include AI translation functions. In the future, the surge in AI-innovative companies like ChatGPT will bring huge competitive pressure to traditional companies specializing in AI translation.
In summary, AI language translation tools have penetrated into all areas of social life and have become an important force in promoting global communication. The AI language translation tool industry is in a period of rapid growth. In the future, it will continue to deepen technological innovation, optimize user experience, expand application scenarios, and pay attention to data security and privacy protection to adapt to the ever-changing market needs.
This report studies the global AI Language Translator Tool demand, key companies, and key regions.
This report is a detailed and comprehensive analysis of the world market for AI Language Translator Tool, and provides market size (US$ million) and Year-over-Year (YoY) growth, considering 2023 as the base year. This report explores demand trends and competition, as well as details the characteristics of AI Language Translator Tool that contribute to its increasing demand across many markets.
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Market segment by Type： Text and Document Translation、Voice Translation、Image Translation、Others
Market segment by Application：Personal Use、Corporate Use
Major players covered： OpenAl、DeepL、Grammarly、Jasper AI、Google Cloud Translation、Lokalise AI、Copy.ai、Smartcat Platform Inc.、Systran (ChapsVision)、QuillBot、Smartling、Microsoft、Wordvice AI、Wordly Inc.、Mirai Translate、Sonix
Market segment by region, regional analysis covers: North America (United States, Canada and Mexico), Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe), Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia),South America (Brazil, Argentina, Colombia, and Rest of South America),Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa).
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe AI Language Translator Tool product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of AI Language Translator Tool, with price, sales, revenue and global market share of AI Language Translator Tool from 2019 to 2024.
Chapter 3, the AI Language Translator Tool competitive situation, sales quantity, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the AI Language Translator Tool breakdown data are shown at the regional level, to show the sales quantity, consumption value and growth by regions, from 2019 to 2030.
Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2019 to 2030.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value and market share for key countries in the world, from 2017 to 2023.and AI Language Translator Tool market forecast, by regions, type and application, with sales and revenue, from 2025 to 2030.
Chapter 12, market dynamics, drivers, restraints, trends and Porters Five Forces analysis.
Chapter 13, the key raw materials and key suppliers, and industry chain of AI Language Translator Tool.
Chapter 14 and 15, to describe AI Language Translator Tool sales channel, distributors, customers, research findings and conclusion.
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