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Translation industry trends 2019

On August 7, 2019 / Machine Translation / Leave a comment

This post was last updated on October 5th, 2021 at 08:42 am

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(Last Updated On: October 5, 2021)

Translation Industry Trends

Over the past few years, the translation industry trend has posted exponential growth. Through globalization and the growing immigration demand, the translation business has never seen demand like this in the past.

The internet is one of the best driving factors that helped skyrocket the demand for the industry. Experts and market analysts predict that the industry will be worth about $56 billion in 2021. This will continue to grow within the foreseeable future. As the industry continues to encompass a more significant and wider market, its time will only tell how big this industry will become.

Since the start of the boom, market analysts have tried to predict what the market trend will be within the next few years. This particular segment of the market has always been an exciting niche since it always poses a great prospect for the future. For many market analysts, these are the following trends of the industry within the next ten years.

Artificial Intelligence

Artificial Intelligence is the biggest topic in the tech community today. It encompasses big data and market prediction, among others. With these aspects of the tech market securely in place, it will only be a matter of time until artificial intelligence reaches the industry.

The artificial intelligence industry is projected to be valued at around $2 trillion before the end of 2019. With advances in computing power, it will only be a matter of months until this particular niche of technology reaches the realms of the industry.

Video Localization

Watching videos in our most preferred sits is much better is we can understand what the characters project. Despite the fact that English is the most common language globally. Mostly prefers watching online videos in their own language. Video localization is among the top trends in the industry for 2019. Translations in videos play a vital part in the success of businesses that plans to expand globally.

Translation in this category sends an important message to customers about new products, updates, or general information. It also conveys a pitch to new clients in advance of a face-to-face meeting or as a follow-up message. It is also important in making a training video for employees in another region.

Machine Translation In Post Editing

Artificial intelligence will surely develop further. The industry will continue as a challenge despite strength in research and development of machine translation. Neural machine translation (NMT), an AI that uses neural network-based technology to accomplish more contextually accurate services, is beneficial in many ways. NMT included several advantages including efficient services of complex languages, using algorithms to learn language conventions, and learning language nuances. The application is more accurate with the aid of human post-editing; translations will be precise and precise culturally. Language service providers that offer top-notch machine translation with human post-editing will be in high demand in 2019 because of NMT.

Nearly half of the participants stated there is a tremendous increase in the number of customers requesting human post-editing in a recent poll.

Globalization

More companies are expected to expand their products and services in global markets.

Computer-Assisted Translation with globalization being driven by digital technology in 2019. ExporTechn have highlighted the program in Detroit and Michigan. ExporTech was made to expand the city’s growth potential into foreign markets like China, South Korea, and India, as well as countries in the Middle East.

Possibly, localization might open operation with of emerging markets including China, Indonesia, Vietnam, India, and Georgia. Emerging markets generate a growth rate of 4-5% per annum; they should be an important part of your company’s globalization strategy.

Cost-Effective Translation

It has become important for companies to offer quick and cost-effective translation and localization services in varied industries with more companies embarking on globalization journey. The translation is now accessible because platforms that offer this kind of services.

Computer-assisted services has provided us with all our business needs. It keeps track of repeated phrases and sentences, along with their corresponding services. The platform allows emerging language converters to know the exact term that was used to translate a word, by automating many processes that are usually manual, CAT tools save money and time, making them cost-effective and efficient.

It also allows cloud collaboration that ensures that individual tasks during the entire process move much faster than they would through email. CAT can make translation projects can move to the next stage efficiently.

Conclusion

The entire premise of this article is quite simple, as globalization grows, so does the translation industry. It is hard to predict what the industry will look like in the next couple of years. However, based on the data at hand, it would appear that the industry is on its way to exponential growth.

As people get more connected each day, the demand for high-quality and fast translation grows with it. Companies continue to expand, and industries continue to grow. No one knows for certain what the future holds, but it would appear that the agency is well within the grasp of growth.

As industries continue to grow, it will always find a facet in which it can attach to. While these strategies take time to take off, it is sure to make sense once they have established root.

This is just a minimum list of industry trends that benefit in the business. This will continue to grow throughout the years as more and more business and industries will find its benefits.