But there should also be hoopla the rise of newer and more diverse services in the translation industry. Please enable it to submit your quote. year as the demand for translation (and other language services) continues to Translation Services in the US industry outlook (2020-2025) poll Average industry growth 2020-2025: x.x lock Purchase this report or a membership to unlock the average company profit margin for this industry. How much networking have you done so far this year? clients. Translators must adapt to the growing demand, which means they’ll have to tailor their offer to meet new requirements. accuracy to work with, that is 20% human translators can simply quality-check From global eCommerce websites and financial firms to international traders and local businesses operating in multicultural…, 7 Key trends for the translation industry in 2020, Machine vs human translation: the pros, cons and…. terms of accuracy or dealing with complex language, but it can handle basic Imagery and iconography can change, as can entire blocks of copy. Overview. Whatever your translation demands, it’s likely that the right combination of quality, customer service and price will be essential from your translation provider(s) over the year ahead. The Asia-Pacific region is one of the fastest-growing language service provider (LSP) markets, primarily in China and Japan. Summary Translation: Hype Cycle for Transportation Industry, 2020 Published: 16 November 2020 ID: G00739528 Analyst(s): Ivar Berntz Summary The transportation industry experiences an increase in the interconnectedness of people and goods that can be optimized through technologies and data analysis. The translation industry is currently booming and is expected to grow beyond measure in the year 2020. Medical translation is expected to be one of the major trends in the translation industry for 2021. Likewise, the electronics and automotive industries are expected to grab a major share from the market by the end of 2020, primarily because of frequently occurring need for accurate and timely translation. For those used to trading in the western world, that means paying attention to a whole new set of business rules, behaviours and customs. Translation Software Market 2020: Industry Growth, Competitive Analysis, Future Prospects and Forecast 2025. How Artificial Intelligence is Changing the Translation Industry . Market Size & Industry Statistics. with? Certain trends relate to supply and demand, as both the services themselves and the providers of the services are … Human translators will need to work in harmony with machines in this brave new translation world! If you are considering becoming a freelance translator, it helps to understand the current state of the translation industry, how it is organized, and where it is heading. China is now the world’s largest economy when considered in terms of purchasing power parity. Why do you need specialist legal translation services? Indeed, the majority of language service providers focus on delivering about 40 of the most commonly used languages. If you want a quite different experience, join the Ukrainian Translation Industry campsite (UTICamp) that will be held at Dnipro, Ukraine from July 20-26, 2020. By Lingual Consultancy Services . It’s a prime time for businesses that aim to expand their reach through promising technological transformations. While the future of the translation industry after the COVID-19 pandemic depends on many factors, there is no doubt that its technologies are set to evolve radically. The global translation industry is continuing its growth in the new year, with an expected market value of $56 billion by the end of 2020. 5 Trends of 2020 in the Translation Industry. Those that pay most attention to the way that they do so will be best placed to benefit. to make a real impact in 2020, but we have already got years of experience in Maarit Koponen is a Lecturer at the University of Turku, Finland, where her research and teaching focus on translation technology, post-editing and translation processes. and this means we have been able to implement these technologies over the years This means that credentialed and skilled translators are leaving the industry in droves because the wages per hour have plummeted, leaving unqualified "editors" to proof only the English portion of a text for readability and deliver it to clients, who aren't happy with the end results due to inconsistencies and outright errors. machines (the technology simply isn’t there yet), but giving translators the tools Translation service industry is getting in a huge break as of 2020 as a great amount of technological advancement with the emerging market of top of the line machines and software that is able to translate any language local and international in a quarter of a second. The year 2020 is set to be the most difficult for most of us in decades. Medical translation will play an even more important role in 2021 as we start to get vaccines all over the world. language supplier works with, it’s not only the trends within our own industry, Towards the end of every year, the Tomedes team sits down to think about the future. Many companies already automate parts of the process, but the future of translation brings even more automated translation tools to the table. This online event will explore the effects of the COVID-19 pandemic on research translation practices and business-academia collaborations. As we As such, we expect to see a notable uptick in video translation once more this year. Therefore. Thankfully, trends rarely catch us by surprise and we have Posted on November 21, 2019. Not only is machine translation an attractive option for many businesses (due to its speed and cost), but there is growing evidence to suggest that turning to translation by a machine, then improving the result with a PEMT service is faster (and therefore more cost effective) than translating from scratch. In that time, we’ve seen marketing trends flex and change, as consumers shift the way that they shop, the way they engage with brands and the importance they place on ethical and ecological considerations. Posted on August 11, 2020; Posted in Uncategorized; Translation service industry is getting in a huge break as of 2020 as a great amount of technological advancement with the emerging market of top of the line machines and software that is able to translate any language local and international in a … At the same time, however, the shape of the translator market is shifting, with machines picking up a greater share of the business than ever before. Globalization has generated consistent expansion in the industry—which is expected to reach $45 billion by 2020. constantly needing to adapt to evolving trends. In many settings, there are several driving forces that trigger change in the way services are delivered. An increase in globalization due to the internet and the integration of people, companies and cultures means that the demand for language services is continuing to rise as people need to communicate with people from other countries, in different languages. That’s despite a tough economic climate, political upheaval in numerous countries and all manner of happenings around the globe. Spanish translation was highly sought after in 2019 and will continue to keep translators busy in 2020. It is a service that can work past the threats of the bigger picture in order to overcome cultural barriers. This time we’re going to focus in on one area of NMT which looks set to shake up the machine translation space in 2020; domain-adaptive systems. automation is the key technology that allows us to deliver 100% quality in 2020: Trends in Machine Translation for the Language Industry The machine translation landscape is blossoming, yet organizations are still trying to figure out how … they need to maximise efficiency. Although there are many things that are going to influence the translation industry in the year 2020, technological evolution is going to play a key role in this paradigm shift. While technology trends are driving innovation in the While machine translation can deliver on the latter, it is the human translator who can provide the quality of translation and level of customer service that are so important to business translation clients. Medical translation is expected to be one of the major trends in the translation industry for 2021. Those who have been following our predictions over the years will note that this isn’t the first time we’ve focused on video translation. is larger than the supply of quality translators and the only way to close this MTPE has turned into a cash grab for agencies that will charge around $.14 - $.16 per word while paying their "editors" $.03-$.04 per word, instead of paying $.08-$.10 per word for an accurate translation from scratch. For As time progresses and markets expand, different languages will be in high demand. This is a key trend for businesses looking to take advantage of the opportunities that come with globalization. Besides, translation companies have begun to understand the vitality of broadmindedness. There are around 6,500 spoken languages in existence at the present time, though some 2,000 of them have fewer than 1,000 speakers, meaning that the number of languages is due to decline rapidly. Following the scenario-based planning methodology participants in the conference will brainstorm about the plausible outcomes of this global crisis. On September 18, 2020 The Slator 2020 Translation and Localization Buyer Report features the latest insights from translation and localization buyers, spanning a range of end-customer segments including technology, finance, travel & retail, professional services, life sciences and more. The translation industry is currently booming and is expected to grow beyond measure in the year 2020. Doing so involves far more than just translation. The global machine translation market is expected to post a CAGR of more than 19% during the period 2020-2024, according to Technavio. Your comment will be published as soon as possible. but also the trends affecting our clients’ industry that we need to stay ahead At the time of writing, the US has imposed tariffs on more than $360bn worth of Chinese goods. Thank you! What are the trends for the translation industry in 2020? For example, localization services was only really took off in the late 80s and 90s. For some translation projects, language experts are all you need to create multilingual content. The global translation industry is continuing its growth in the new year, with an expected market value of $56 billion by the end of 2020.. And, of course, all of those videos will need to be translated and localized. Our final 2020 translation trend is video translation. The Translation Industry in 2022 A Report from the TAUS Industry Summit . The figures will add further weight to the trend for businesses to try combining machine translation with post-editing services in 2020. For businesses looking to sell products or services, that means an increased need for video. According to the Congressional Research Service, it is also the world’s largest manufacturer, merchandise trader and holder of foreign exchange reserves, as well as the US’s biggest merchandise trading partner and largest source of imports. With human translators shifting their stance to address PEMT needs, there’s no need to think that AI will replace human translation any time soon. For 2020 it is predicted that the language that will be in high demand is, Chinese (Mandarin). 4 Trends for The Translation Industry in 2020. Type: Online Conference For: Language Service Companies, Translation buyers, Freelance Translators Dates: April 23, 2020 Location: Planet Earth Organizer: Smartcat Link: https://smtc.at/TOvYYj (open until April 10) Description: We will take a look at the challenges the COVID-19 outbreak is bringing both inside and outside the language industry. You can now get access to the recordings of the four live sessions as well as a free copy of the TAUS Report that maps out the direction for the translation industry in the perspective of a global reset and changing industry landscape. An increase in calls for non-English languages, coupled with a global environment is expected to increase the demand for language conversion services. The latest translation technologies usually take the limelight and all the fanfare. Medical Translation. As such, it paves the way for opportunity. They will work in teams to recommend potential avenues for improvement, refinement or evaluation of an existing project that is identified or deemed of interest by the industry … on quality and it also drives down turnaround times and costs for our existing All of this has led to a rapidly growing need for the services of those who translate Chinese to English in recent years – a need that we anticipate will continue to increase in importance in 2020. Video localization will also come into its own in 2020. As organizations continue to make their products and services available in more languages, CSA predicts that the language services industry will continue to grow and that the market will increase to$56.18 billion by 2021. translation industry in 2020, but what do they mean for the businesses we work Both of these will be driven by demand for business translation, as firms with international trade translate everything from product labels to marketing brochures in order to increase their global footprint. Microsoft conducted a survey in which 69% of participants already used a digital assistant, and that 75% of homes will have some kind of smart speaker by 2020. You are here. Back in 1979, China opened up to foreign trade and investment and it hasn’t looked back since. The human being is certainly involved in providing input, i.e. In 2020, the federal government spent a total of $723,005,833 on Translation & Interpretation Services. It’s already one of our most sought-after translation services, and 2020 looks set to be an even bigger and better year for those producing (and translating) videos. Exciting times will ultimately lead to more exciting times in 2020. automated translation, is a "process when a computer software translates text from one language to another without human involvement [in the output]” (MemoQ.com, 2020). Phone * Looking For * 1. While the future of the translation industry after the COVID-19 pandemic depends on many factors, there is no doubt that its technologies are set to evolve radically. would not be possible. We really appreciated the wonderful conversations with other attendees which resulted in clarifications of certain concepts within the translation industry that our company is working on. While we fully expect those trends to continue into 2020 and beyond, we thought it was time to flag up a few additional top translation industry trends that we believe will be important in 2020. The Nimdzi 100 is widely considered an industry standard and is read by tens of thousands of people in the translation … Perhaps it may one day, but we’re nowhere near that point yet. shorter time-frames. Google is placing an increasing amount of importance on video. As we’re digressing anyway, before we move on to the second of our top translation opportunities for 2020, let’s address the idea that advances in AI will mean an end to translation jobs. The report study has analyzed revenue impact of the COVID-19 pandemic on the sales revenue of the market leader, market followers and market disrupters in the report and same is reflected in our analysis. The global tr a nslation industry is growing under the shadows of different industries. Big Break on Emerging Translation Service Industry in 2020. For individual companies, high quality translation means the ability to reach more customers and expand their footprint. The freelance industry will not have the translation profession if there are no multiple opportunities. Without the latest technology, increasing these workloads simply this article, we are looking at seven key trends for the translation industry Language industry research company Nimdzi Insights has published The Nimdzi 100, reporting on the size and state of the language services industry in 2020.This includes ranking of the top 100 largest global language service providers. Despite Covid-19 forcing them to postpone or take place virtually, there are many exciting localization and translation industry events happening in 2020 and 2021. 6 min Offering keynote speeches from trailblazers in the field, as well as networking opportunities for industry leaders around the globe, localization conferences and meetings keep our industry cutting- edge and allow businesses to continue to expand their re. Global Website Translation Software Market 2020 Industry Outlook, Present Scenario of Manufacturers, Share, Size, Opportunities and Forecast to 2025 Published: Nov. 24, 2020 at 7:58 a.m. LONDON-- (BUSINESS WIRE)--The machine translation market is expected to grow by USD 971.87 mn, progressing at a CAGR of over 19% during the forecast period. In 2020, we’ll see the translation industry respond to this in force. Which is precisely why the trends we have looked at in this article And that’s using two of the languages that the Google Translate team has been working on for years. The breaks they did take, however, lasted longer than they did when translating from scratch, at 14% for phrase-based and 25% neural machine translation. Paste a long block of Spanish text into Google Translate and ask it to deliver the copy in English and you’ll see why. What will be the state of the translation industry in the summer of 2021? Indeed, nothing is sacred when it comes to transcreation, other than the original intent of the marketing materials. Leave a comment below to let us know the top translation need within your business for 2020! Our global marketplace means that translation has never been more important when it comes to connecting individuals and businesses from a hugely diverse range of linguistic backgrounds. Companies need more than word-to-word translations to conquer new markets. Machine Translation (MT), i.e. Unsurprisingly, many of the key trends for 2020 are It's simply become a way for agencies to make more money at the sacrifice of translators and clients alike. Highly unlikely! September 23, 2020 September 23, 2020 Guest Desk 0 Comments There are a lot of translators that would be wondering if they can find relative to jobs in the industry. According to recent studies from Common Sense Advisory, the translation industry is … developing and refining them. Beyond machine learning, machine translation, and machine automation, the world gears for other trends and predictions that can be expected out of the year 2020. These technologies are now at a point where they are ready Even with the vast resources that Google has at its disposal (its Q3 2019 revenue came to US$40.3 billion), the company has been unable to master machine translation in the way that a human translator can. hinted at in the intro, technology is more of an evolution than a revolution How many languages are there in the world? Reinventing the Translation Industry Recordings & Report. Tomedes has been providing marketing translation services for over ten years. gap is with technology. when it is combined with other tools (not only translation tools, either) and Read on to discover more! The right Mandarin translator or interpreter can help a company not just to present itself in the ideal language but can help it to navigate the often-complex world of international business etiquette. This allows us to take on more clients without compromising In Unsurprisingly, many of the key trends for 2020 are technology-driven, as is the case for most industries in the digital age. Most people who have never worked in the translation industry have a hard time understanding why translations that seem similar on the surface have different prices. What do multilingual brands really need from translation services. SE Ranking reports that including video on your webpages can improve your position in the SERPS and increase your click-through rate, driving more traffic to your site. Subscribe to receive all the latest updates from Tomedes. Real annual gross domestic product (GDP) growth averaged 9.5% through to 2018, making China one of the world’s fastest-growing economies. content to be translated, to the machine tanslation engine. ‍ How does this impact the translation industry? How does Google deal with translated content? The study found that post-editing of phrase-based statistical machine translation resulted in 18% greater translation productivity, while post-editing of neural machine translation resulted in 36% higher productivity than translating from scratch. In their annual survey, The Association for Translation Companies (ATC), in association with Nimdzi Insights, reported that the global translation and localisation market had reached 35 billion GBP in 2018, and although it’s growing at a slightly lower rate of 5.52% per annum than in previous years, it’s still an industry to be reckoned with. Maarit Koponen is a Lecturer at the University of Turku, Finland, where her research and teaching focus on translation technology, post-editing and translation processes. There are numerous great trends providing perks to the people in the know. It includes a ranking of the top 100 LSPs by revenue, a watchlist of large players that don’t disclose their revenues, and a detailed overview of the size and state of the language services industry. Indeed, the World Bank hailed it as “the fastest sustained expansion by a major economy in history.”. The Slator 2020 Language Industry Market Report provides a comprehensive view of the global language services and technology industry, which, according to Slator, grew to a … For example, localization services was only really took off in the late 80s and 90s. one thing, companies like ourselves work with a growing list of clients every Even logos, product names and straplines can be altered if it’s necessary to engage the target audience in the appropriate way. So why are we flagging it up again as a trend for 2020? Will translation look the same in five years’ time? With global distances collapsing to a mere click of a button, humans can access greater amounts of … Video translation: How to translate video content…. We are approaching a point where the demand for translation 2019 is already shaping up to be an exciting year for the translation and language industry! In 2019–2020, she worked as a postdoctoral researcher in the EU-funded research project MeMAD (Methods for Managing Audiovisual Data) at the University of Helsinki, researching machine translation … While we’re on the subject of machine translation, it’s worth taking a quick detour to look at the growth of the translation industry. Size of the industry. It has played a massive role in 2020, with more people accessing healthcare services than ever before. The protracted trade war between the USA and China is a modern-day example of the impact that cultural differences (as well as economic self-interest and political egos) can have. 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