Future Trends In The Translation Industry
Globalisation and advancing technology have impacted almost everything, and the translation industry is no exception! In fact, the translation industry is growing rapidly in demand and in the evolving industry protocols and tools used to remain competitive. It is particularly no secret the translation industry is growing fast. In other words, the current market size has recently expanded to just over $45B and is expected to grow to over $56B by 2021.
These positive trends mean the industry will become more competitive as translation agencies battle to speed up delivery, lower costs and maintain excellent quality. This can only happen through human subject matter expert (SME) translators.
The Translation Industry – Highly Competitive Market
The need to increase speed and decrease cost forces translation agencies to rely on advanced translation technologies. This includes automated translations, machine translation (MT) or computer aided translation (CAT), translation Memory (TM) and artificial intelligence (AI). Luckily, these technologies have advanced beyond word-for-word translation and are able to translate complex ideas accurately. However, the need for precise localisation and transcreation services still require human skills to produce a high quality deliverable.
Furthermore, the modern day translator needs to know more than vocabulary, grammar, cultural nuances and subject matter expertise. They also need to be adept at integrating multiple software tools into their project workflows. Without such tools to create drafts to add their creative skills to, they will be unable to meet deadlines or offer acceptable pricing.
The world economies continue to intermingle and developing countries modernise. Hence, there is an increased need to translate business, legal, medical and scientific information into more of the world’s 7,000 languages. This means translation agencies need to have access to subject matter experts who are fluent in more dialects than the most spoken languages of the world.
As the Internet becomes our preferred method of obtaining information, we heavily rely on search engines through browsers such as Google Chrome. In fact, this trend is impacting all content creation. If the user is unable to find the content, it will never be read. Therefore, writing for SEO or rankings in the search results is also more important than ever. Now, phrases particularly known as short and longtail phrases and domain specific language need translation. It also needs to rank in the most popular searches. Therefore, this creates additional complications when translating across languages, as the key search phrases could differ by region and cultures that speak a common language.
The Key Trends in the Translation Industry include:
- Growing demand and market potential
- Increasingly competitive market
- Faster turnaround times
- Lower Costs
- Significant reliance on technology with a need for human refinement
- Requirements for localisation and transcreation services to preserve original intent
- More language combinations being translated
- Finally, online content focusing on SEO with specific keywords, long tail and short tail phrases
Renaissance Translations’ Professional Language Services
At Renaissance Translations, our tech-savvy translators ensure they understand the goals and parameters of your project before working on your project. We only employ the most qualified translators with subject matter expertise that natively speak the target language. We look forward to discussing your project with you, and we are happy to become your language services partner.