Market Share of Machine Translation Industry
The machine translation market is competitive and consists of several major players. Current market leaders in terms of market share include companies like IBM Corporation, Microsoft Corporation, Lionbridge Technologies Inc., etc. The majority of well-known companies are, however, increasing their market position by gaining new contracts in order to tap into new markets as a result of the increased innovation in machine translation.
In January 2023, Siemens expanded its digitalization portfolio for the Indian machine tool industry to enhance value proposition and profitability for customers, where it expanded its portfolio of the machine tool industry, which will enable manufacturers and users of machine tools to design, realize, and optimize machines and components faster, react flexibly to market demands, and enhance productivity across various user industries.
In August 2022, RWS announced the partnership with Language Weaver, where Reynen Court offers a platform that combines a content-rich app store and a powerful control panel that simplifies the process for law firms and legal departments to source, evaluate, deploy, monitor and manage legal technology applications. The platform offers Language Weaver, RWS's state-of-the-art machine translation technology, to legal firms looking to improve multilingual communications and eDiscovery. Reynen Court clients benefit from access to 3,000 language combinations within Language Weaver's secure environment.
Machine Translation Market Leaders
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IBM Corporation
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Microsoft Corporation
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SDL PLC
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Lionbridge Technologies Inc.
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Omniscien Technologies Inc.
*Disclaimer: Major Players sorted in no particular order
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