NEW YORK, Nov. 18, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global machine translation market  size is estimated to grow by USD 1.23 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  15.89%  during the forecast period. Increasing demand for content localization is driving market growth, with a trend towards rising use of multilingual AI. However, availability of open-source machine translation service tools  poses a challenge.Key market players include Alphabet Inc., ARGOS TRANSLATIONS Sp. Z o.o., Babylon Software Ltd., Cloudwords Inc., CSOFT International Inc., Global Lingo Ltd., Honyaku Center Inc., International Business Machines Corp., Lingotek Inc., Lingua Custodia, Lionbridge Technologies LLC, Microsoft Corp., Omniscien Technologies, Promt, SYSTRAN SA, Teleperformance SE, thebigword Group Ltd., TransPerfect Global Inc., Welocalize Inc., and RWS Holdings PLC.

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Key Market Trends Fueling Growth

Machine translation (MT) is a growing market driven by the need for multilingual communication in various industries. Artificial intelligence (AI) and deep learning techniques are trending in MT, enabling better quality and accuracy through neural networks and natural language processing. Big data and internet penetration have expanded language data availability, benefiting language service providers. E-commerce, education, healthcare, legal services, and travel industries are major consumers of MT. Chatbots and real-time translation are emerging trends, while hybrid approaches offer domain-specific adaptation. Limited language coverage remains a challenge, but advancements in AI and natural language understanding are addressing this issue. Multilingual content creation and customer support are essential for businesses targeting emerging economies and internet users. Speech recognition and deep neural networks are future technologies poised to revolutionize MT. 

In today’s global business landscape, companies and organizations require effective communication with customers, partners, and stakeholders across linguistic borders. Multilingual Artificial Intelligence (AI) solutions enable seamless communication by translating text in real-time. This technology expands market reach and improves access to information and services for non-English speaking populations. Advertising agencies and marketing firms utilize advanced neural machine translation technologies to tailor advertisements and localize content based on audience demographics and purchase history. By automating translation tasks, businesses can streamline processes and enhance customer engagement. 

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Market Challenges

The Machine Translation (MT) market is experiencing significant growth due to the increasing need for multilingual communication in various industries. However, challenges persist in delivering accurate and high-quality translations. Artificial Intelligence (AI) and Deep Learning Techniques are being used to improve MT, but limited language coverage and data availability remain obstacles. Big data and Internet penetration are driving the growth of MT in emerging economies and e-commerce. However, domain-specific adaptation and hybrid approaches are necessary to ensure quality and accuracy. Chatbots and real-time translation are revolutionizing multilingual customer support, while speech recognition and natural language processing are enhancing communication infrastructure. The education, healthcare, legal services, and travel industries are major consumers of MT. Despite these advancements, the role of professional linguists remains crucial in ensuring the quality of translations. Overall, the MT market is evolving rapidly, with AI, big data, and real-time translation being key drivers.The machine translation market is growing due to the use of advanced software like translation memory (TM), translation management software (TMS), and computer-assisted translation (CAT). While proprietary versions of these tools can be expensive, such as SDL Trados Studio, many small and medium-sized enterprises (SMEs) opt for open-source alternatives. Free CAT tools, like Omega T Open TM2 and Anaphraseus, and open-source machine translation engines, such as Apertium and Moses, are available online. These options put pressure on vendors’ pricing strategies, making machine translation more accessible to businesses of all sizes.

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Segment Overview 

This machine translation market report extensively covers market segmentation by

Application 1.1 Defense1.2 IT1.3 Automotive1.4 HealthcareDeployment 2.1 On-premises2.2 CloudGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Defense-  The global machine translation market is experiencing significant growth due to the increasing demand for advanced electronic warfare systems in defense sectors. These systems are essential for safeguarding critical assets and infrastructure, as well as countering unconventional security threats. Machine translation plays a crucial role in the development of electronic warfare systems, with extensive use in various stages. The need for improved intelligence, stealth capabilities, and precision attack is driving the market’s growth. Modern electronic warfare systems offer multiple advantages, including the ability to combine support, protection, and attack functions in one unit. They also provide real-time impact recording and offer defensive countermeasure solutions. Defense forces can quickly update their threat library and classify new and existing threats using machine translation. The equipment used in electronic warfare is undergoing advancements, thanks to progressions in algorithms and software. These systems are available in various sizes and power levels, making them suitable for use on land, air, sea, or space. The demand for machine translation in defense sectors is expected to continue, leading to market growth.

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Machine translation (MT) is a subfield of computational linguistics that utilizes artificial intelligence (AI), deep neural networks, and natural language processing to translate text from one language to another. The market for machine translation is growing rapidly due to the increasing demand for multilingual communication in various sectors, including digital content, e-commerce, travel, healthcare, and more. Deep learning techniques, such as neural networks, are increasingly being used to improve the accuracy and fluency of machine translation. The proliferation of the internet and smartphone penetration, as well as the availability of big data, are also driving the growth of the machine translation market. Language localization is a critical application of machine translation, enabling businesses to reach international audiences more effectively. However, it is important to note that machine translation is not a replacement for professional linguists and translation theory, but rather a tool to facilitate communication and streamline the translation process. Communication infrastructure, including translation memory systems and terminology databases, are essential for effective machine translation. The market for machine translation is expected to continue growing as more industries recognize the value of multilingual communication in an increasingly globalized world.

Market Research Overview

Machine Translation (MT) is a subfield of Natural Language Processing (NLP) that utilizes Artificial Intelligence (AI), Deep Learning Techniques, and Neural Networks to translate text or speech from one language to another. The market for Machine Translation is growing rapidly due to the increasing need for multilingual communication, multilingual content creation, and multilingual customer support. Factors driving the growth of the market include Internet penetration, smartphone penetration, and the availability of large amounts of language data. Big data and Deep Learning Techniques are being used to improve the quality and accuracy of MT systems. The market covers various applications such as E-commerce, Education, Healthcare, Legal Services, Travel, and others. Challenges include limited language coverage and the need for domain-specific adaptation. Hybrid Approaches that combine AI and professional linguists are also gaining popularity. Chatbots and Speech Recognition are also being integrated into MT systems to provide real-time translation and multilingual communication infrastructure.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationDefenseITAutomotiveHealthcareDeploymentOn-premisesCloudGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

On the 30th anniversary of “Star Trek: Generations”, The Archive and William Shatner revisit Captain Kirk’s final appearance on screen in a new 8-minute video produced for The Archive app on Apple Vision Pro: “765874: Unification”, launched in tandem with new interactive sets and documentary interviews and behind the scenes content celebrating the legacy of the 1994 film.

LOS ANGELES, Nov. 18, 2024 /PRNewswire/ — OTOY, Inc is proud to release the next major update to The Archive, with ‘765874: Unification’, a mind-bending Star Trek experience celebrating the 30th anniversary of Star Trek: Generations – William Shatner’s last appearance as Captain Kirk on screen.

‘765874: Unification’ launches today on The Archive web portal and native app, an immersive experiential app designed for Apple Vision Pro. The release is accompanied by new interactive sets, props, and worlds from the 1994 film as well as a 20-minute retrospective by William Shatner himself, looking back over the last 30-years since he played the legendary character, and his aspirations for the future of Captain Kirk as the franchise approaches the 60-year mark. The full experience with all related extra content is available in its entirety in Digital Cinema 4k HDR and spatial video, exclusively mastered at peak fidelity for viewing on Apple Vision Pro.

Iconic characters from classic Star Trek history were brought to life through the live action performances of a talented cast, led by veteran TV and film star Sam Witwer as James T. Kirk, with Lawrence Selleck as Spock. Witwer and Selleck were filmed in costume, performing as Kirk and Spock on set, aided by both physical and digital prosthetics resulting in period-accurate portrayals matching the appearance of the characters as they originally appeared in TV and Film at the time.

William Shatner and Susan Bay Nimoy, widow of the late Leonard Nimoy, served as executive producers on the production.

Mr. Shatner worked with the OTOY team to fine tune the technical and creative direction required to bring his interpretation of Kirk back to live action for the first time in 30 years, including the addition of his voice to narrate a key moment in the experience.

Describing ‘765874: Unification’ and OTOY’s digital prosthetic technology used to revisit Star Trek history, William Shatner said it “takes years off of your face, so that in a film you can look 10, 20, 30, 50 years younger than you are.” Mr. Shatner surprised fans yesterday when he shared the first private screening of the video at the Star Trek tour in Ticonderoga, New York.

‘765874: Unification’ was directed by Award Winning Spanish filmmaker Carlos Baena, from a story by Jules Urbach, and features original music by Academy-award winning Star Trek composer Michael Giacchino.

The 8-minute video connects multiple decades of Star Trek lore, with nods to Robin Curtis’ portrayal of Saavik (1984’s Star Trek III: The Search for Spock), J.M. Colt (from the 1964 Cage pilot) played by actress Mahé Thaissa and Gary Mitchell, Kirk’s friend from the second Star Trek pilot episode, “Where No Man Has Gone Before” performed by original actor Gary Lockwood. 

For post-production and special effects work, skilled artists from OTOY and partner VFX studios combined digital and physical prosthetics with live action location photography, virtual production, and beautiful CG set extensions to deliver feature-film quality visuals. Major scenes in “Unification” were filmed twice, ensuring coverage to create video and spatial content mastered for Apple Vision Pro. All outdoor filming locations were scanned in and merged with CG set extensions, becoming part of The Archive’s growing library of 3D worlds and locations.

Emmy-award winning visual effects supervisor Mark Spatny led OTOY’s international team of artists and animators, including visual effects artists Neil Smith, JJ Palomo, and Aaron Westwood.

Visual effects in ‘Unification’ were created using OTOY’s Octane® rendering software and the Render Network® decentralized GPU rendering platform. Characters and props were digitized using OTOY’s Academy-Award winning LightStage™ scanning system.

About The Archive

The Archive is a multi-decade endeavor between OTOY and The Roddenberry Estate, in collaboration with Paramount Game Studios, to catalog key texts and documents from Gene Roddenberry’s life and career using immersive technologies. With a mission to canonically memorialize reference 3D models of the Starship Enterprise – including studio models as filmed on set and life-size 1:1 scale ‘in Universe’ versions – The Archive aims to preserve iconic worlds from the Gene Roddenberry era of Star Trek for future generations to experience in new immersive spatial formats like Apple Vision Pro.

As part of The Archive, OTOY has leveraged advancements in virtual production technology and frontier digital workflows pioneered by OTOY to recreate key pieces in Star Trek history in 1:1 life-sized virtual sets.

The Archive’s virtual production and digital makeup technology are used to create documentary shorts and immersive spatial experiences for the Apple Vision Pro. The documentary videos are overseen by Roger Lay, Mike and Denise Okuda, and feature Star Trek luminaries such as William Shatner, George Takei, Walter Koenig, director Robert Butler, Terry Matalas, Robin Curtis, Gary Lockwood, writer David Gerrold, production designer Dave Blass, and stunt performer Sandra Lee Gimpel.

The Archive can be explored as a native immersive spatial experience for Apple Vision Pro, available on the App Store. A limited version of The Archive is currently available in two-dimensional format on the web. 

Recent short documentary videos produced for The Archive app experience include:

The Roddenberry Archive: Behind the ScenesThe Roddenberry Archive: The CageThe Roddenberry Archive: The Next Generation (Returns)The Roddenberry Archive: William ShatnerThe Roddenberry Archive: Walter KoenigThe Roddenberry Archive: Return to Tomorrow (with “Q”)The Roddenberry Archive: Deep Space NineThe Roddenberry Archive: David Gerrold (Part 1) | (Part 2)The Roddenberry Archive: All the Enterprises – A to Z

Star Trek intellectual property is used under a license with Paramount.

About OTOY Inc.

OTOY Inc. is the definitive cloud graphics company, pioneering technology that is redefining content creation and delivery for media and entertainment organizations around the world. OTOY’s Academy Award®-winning technology is used by leading visual effects studios, artists, animators, designers, architects, and engineers, providing unprecedented creative freedom, new levels of realism, and new economics in content creation and distribution powered by the cloud. For more information, visit www.otoy.com.

Additional Resources:

Follow The Roddenberry Archive on X.Follow OTOY on Facebook and X.Read more about The Render Network here.

About Paramount Consumer Products 

Paramount Consumer Products oversees all licensing and merchandising for Paramount (Nasdaq: PARA, PARAA), a leading global media and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic consumer brands, Paramount Consumer Products’ portfolio includes a diverse slate of brands and content from BET, CBS (including CBS Studios and CBS Television Distribution), Comedy Central, MTV, Nickelodeon, Paramount Pictures and SHOWTIME®. With properties spanning animation, live-action, preschool, youth and adult, Paramount Consumer Products is committed to creating the highest quality product for some of the world’s most beloved, iconic franchises. To view our range of consumer products and Paramount branded apparel, visit ParamountShop.com.

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SOURCE OTOY Inc.

Launching on Kickstarter November 26 with Super Early Bird Prices, Early Bird Discounts, and Exclusive Gift Add-Ons for Preferred Customers – Discover the Micro World with Darwin MX Pro’s 2200x Magnification, Real-Time Sharing, and 9″ Touchscreen.

BOULDER, Colo., Nov. 18, 2024 /PRNewswire/ — BeaverLab, an innovative leader in digital display and enhanced visualization, proudly announces the Darwin MX Pro Microscope. With the Darwin MX Pro, fans of everything tiny can unlock the secrets of the micro world. The microscope connects via Wi-Fi to project observations on smart TVs, enabling users to observe, measure, and record all microscopy tasks seamlessly on one screen. To fund the microscope’s production, BeaverLab is launching the Darwin MX Pro on Kickstarter on November 26, with exclusive super early bird pricing, early bird discounts, and gift add-ons for backers.

A Lab-Grade Desktop Microscope

The Darwin MX Pro Microscope is a lab-grade desktop microscope. It is perfect for exploring micro-life with children, among many use cases. Its screen supports touch operation, allowing users to record observations in real time, store photos, and capture live videos. This functionality greatly simplifies the workflow. The microscope is also equipped with anti-collision soft pads that reduce accidental damage and improve durability.

Efficient Real-Time Surveying and Mapping

With the MX Pro’s real-time surveying and mapping tools, users can efficiently process specimen images. Its mouse control function enables flexible, comfortable handling, while integrated tools offer automatic measurement, calibration adjustments, and binarization, isolating backgrounds for clearer imaging. Additional features like relief and reverse color enhance depth, three-dimensionality, and contrast for detailed visualization.

Every Detail Comes to Life

Offering up to 2200x magnification, the Darwin MX Pro brings every micro-detail to life with lab-grade clarity and intuitive controls. The product’s groundbreaking RGB light staining function, which uses a non-polluting illumination method to help visualize cellular components and structures while preserving specimen integrity. “The Darwin MX Pro enables you to explore the delicate veins of a leaf, observe microbial movement, and study mineral patterns—all in real time,” added the spokesperson.

Enabling the Spirit of Discovery

“The Darwin MX Pro ignites the spirit of discovery for science enthusiasts,” the spokesperson noted.  “From tiny organisms to intricate cell structures, it transforms each observation into a shared experience. Users can capture, edit, and share findings directly from their device, fostering collaboration beyond solo viewing.”

“The Darwin MX Pro not only offers professional-grade magnification but also frees your hands and supports a natural posture, making it perfect for teaching, research, or pure curiosity,” said the spokesperson. “The large 9″ foldable IPS touchscreen reduces eye strain, offering a comfortable and engaging viewing experience for long sessions.”

Darwin MX Pro Specifications

The Darwin MX Pro is equipped with a high-resolution 9-inch touchscreen display (1024 x 600, 24-bit color), ensuring vibrant visuals and precise image detail. Powered by Android 10, it offers 8GB of internal storage for effortless saving and exporting of images and videos. Its advanced X-Y axis precision adjustment system pairs seamlessly with a smooth focusing mechanism, enabling users to locate samples with ease and accuracy. The intuitive interface is designed for extended use, delivering a comfortable and user-friendly experience, even during long observation sessions.

Learn More About Darwin MX Pro on Kickstarter

Explore the Darwin MX Pro and support its production on Kickstarter today. Don’t miss the chance to secure super early bird pricing and exclusive gifts by becoming a backer!

About Beaver Technology (Shenzhen) Co., Ltd

BEAVERLAB is a leading innovator in the design and manufacturing of practical and portable digital microscopes and telescopes. The product range includes the Darwin series digital microscopes and the Finder series digital telescope. Find more information about BEAVERLAB.

https://beaverlabtech.com/

Press Contact:

Livy Li
17279714152
https://www.beaverlabtech.com/

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SOURCE Beaver Technology (Shenzhen) Co., Ltd