Alphabet’s (GOOGL - Free Report) division Google is leaving no stone unturned to bolster presence in the digital language translator space on the back of its strategic partnerships.
Recently, the search giant has agreed on the integration of Google Translate into Wikimedia Foundation’s content translation tool. Notably, Wikimedia Foundation is the parent organization of Wikipedia.
The latest deal seems to be a win-win situation for both the companies.
The new service integration will help Wikipedia in expanding its content library in varied languages on its non-English websites.
Further, the partnership is likely to boost the adoption rate of Google Translate and expand Google’s client base.
Translation Software Holds Promise
In today’s world, increasing international trade, strengthening global presence of companies, and accelerating international tours and travel rate are resulting in growing proliferation of language translation software.
Per a report from Market Research Future, the global market for such a software is anticipated to witness a CAGR of 16% between 2017 and 2023.
We believe Google is well-poised to reap benefits from the potential language translator software market on the back of its strategic partnership with Wikipedia which is the most commonly used web encyclopedia.
Growing Translation Initiatives
The recent move of Google bodes well for its growing translation initiatives.
Apart from the latest partnership, the company joined forces with Wikipedia to improve the Wikipedia’s content in Indonesia by translating the English articles into Bahasa Indonesia language.
Further, the company has rolled out interpreter mode for Google Home speakers which will aid in language translation by holding the conversation between two people speaking in different languages. This is in sync with Google’s strong focus toward strengthening the momentum of its online translation software.
Additionally, Google Translate is now capable of giving translations based on the gender usage in the sentence that is being translated, consequently eliminating the gender bias from its service. This currently supports translations from English to French, Italian, Portuguese, Spanish and vice-versa.
Notably, all these strong endeavors are likely to drive the user base of Google Translate by aiding its penetration rate in the growing translation market.
Zacks Rank & Stocks to Consider
Currently, Alphabet carries a Zacks Rank #3 (Hold).
Few better-ranked stocks in the broader technology sector are Etsy (ETSY - Free Report) , Marchex (MCHX - Free Report) and Internet Initiative Japan (IIJI - Free Report) . All the three stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term EPS growth for Etsy, Marchex and Internet Initiative Japan is currently pegged at 15%, 15% and 13.5%, respectively.
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