But there should also be hoopla the rise of newer and more diverse services in the translation industry. Language translation to and from Mandarin is nothing new, but it is becoming increasingly important. Companies need more than word-to-word translations to conquer new markets. 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. But there should also be hoopla the rise of newer and more diverse services in the translation industry. If you’ve been in business for any length of time, no doubt you’ve experienced some of this yourself. Video localization will also come into its own in 2020. So those are the trends that will matter most in the 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. 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. How does Google deal with translated content? This is a key trend for businesses looking to take advantage of the opportunities that come with globalization. with? How many languages are there in the world? You are here. 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. The Future of Translation Technology in 2020 and Beyond. 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. Spanish translation was highly sought after in 2019 and will continue to keep translators busy in 2020. As we enter a new decade, the industry looks set to continue that growth, albeit in a new form as it embraces the expansion of AI technology in the translation world. Even logos, product names and straplines can be altered if it’s necessary to engage the target audience in the appropriate way. The Asia-Pacific region is one of the fastest-growing language service provider (LSP) markets, primarily in China and Japan. 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. 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. Phone * Looking For * 1. How does this impact the translation industry? 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. One word: Google. That’s because it has become increasingly important over the past several years, as we consume more and more of our content through this medium. As such, we expect to see a notable uptick in video translation once more this year. It has played a massive role in 2020, with more people accessing healthcare services than ever before. For the business world as a whole, translation delivers the ability for entire countries to trade successfully around the globe. gap is with technology. The translation industry is currently booming and is expected to grow beyond measure in the year 2020. Tomedes has been providing marketing translation services for over ten years. Thank you! Furthermore, both of the methods including machine translation saw the translators take fewer breaks during their work (29% for post-editing of phrase-based statistical machine translation and 42% for post-editing of neural machine translation). As we That number increased to a staggering 62% by 2020. Quite simply, businesses can’t afford to ignore China if they are serious about global trade these days. State of the industry: freelance translators in 2011 Introduction. Newer services in the translation industry will emerge. Globalization has generated consistent expansion in the industry—which is expected to reach $45 billion by 2020. translation industry, they come at a time where demand is only increasing. 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. The use of MTPE is good in the short term for translation agencies, but is bad for both translators and clients. 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. For Machine Translation Market forecast to reach $1.58 billion by 2025, after growing at a CAGR of 13.06% during 2020-2025 owing to high adoption of machine translation technology in end-user verticals such as military and defense, automotive, healthcare and others for automated translation of source material into another language. I’ll be joining a panel with Paula Shannon and Jost Zetzsche to debate the future of the translation industry. When dealing with a culture in which respect and saving face is extremely important, careful guidance on what to say (and most importantly, what not to say), can make all the difference. Will translation look the same in five years’ time? We’re well into 2020, but there are still plenty of language-industry events you can attend if you’re looking to make new connections and learn new skills to take your career or LSP to the next level. welocalize • October 18, 2019 Insights from the Technology Round Table, European edition. We use our translation industry expertise and the business trends that we’ve seen over the course of the past year to map out what’s likely to trend in the year ahead. It allows language services providers to optimize workflows and to save time and money with every new project. Back in 1979, China opened up to foreign trade and investment and it hasn’t looked back since. Video translation: How to translate video content…. It was previously structured in a traditional setting and was labelled as UTIC (Ukranian Translation Industry Conference). Indeed, the World Bank hailed it as “the fastest sustained expansion by a major economy in history.”. 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. are so important for 2020 and beyond. China is now the world’s largest economy when considered in terms of purchasing power parity. 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. language supplier works with, it’s not only the trends within our own industry, 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. constantly needing to adapt to evolving trends. Technological and logistical advances mean that companies can reach out to customers around the world. translation industry in 2020, but what do they mean for the businesses we work Medical translation is expected to be one of the major trends in the translation industry for 2021. Let’s look at some numbers. 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. This allows us to take on more clients without compromising 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. Please enable it to submit your quote. It’s a prime time for businesses that aim to expand their reach through promising technological transformations. 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. The freelance industry will not have the translation profession if there are no multiple opportunities. 4 Trends for The Translation Industry in 2020. By Lingual Consultancy Services . 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. been working towards 2020’s biggest trends for a number of years already. developing and refining them. In 2020, the federal government spent a total of $723,005,833 on Translation & Interpretation Services. 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. For some translation projects, language experts are all you need to create multilingual content. Indeed, the majority of language service providers focus on delivering about 40 of the most commonly used languages. business and industry aspects of the translation profession - 2020/1 Module code: TRAM476 In light of the Covid-19 pandemic, and in a departure from previous academic years and previously published information, the University has had to change the delivery (and in some cases the content) of its programmes, together with certain University services and facilities for the academic year 2020… 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. 2019 is already shaping up to be an exciting year for the translation and language industry! 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. Market Size & Industry Statistics. increase. Real annual gross domestic product (GDP) growth averaged 9.5% through to 2018, making China one of the world’s fastest-growing economies. 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. Without the latest technology, increasing these workloads simply The Translation Industry in 2022 A Report from the TAUS Industry Summit . 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. In just 25 years, McLuhan's theory of a Global Village became a reality. For 2020 it is predicted that the language that will be in high demand is, Chinese (Mandarin). Size of the industry. shorter time-frames. And for those looking to sell internationally, it means more video translation. of. would not be possible. 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. 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. 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. Translation technologies have the same focus, meaning that a real translator who speaks a lesser used language has almost no reason to fear the impact of machine language translator developments on the translation industry. Our final 2020 translation trend is video translation. An increase in calls for non-English languages, coupled with a global environment in which any company can achieve international reach, means that demand for language conversion services is growing rapidly. Overview. 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. The total U.S. industry market size for Translation & Interpretation Services: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size. this article, we are looking at seven key trends for the translation industry Newer services in the translation industry will emerge. 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…. 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. Translators must adapt to the growing demand, which means they’ll have to tailor their offer to meet new requirements. Voice is another interesting intersection of translation and content. Many companies already automate parts of the process, but the future of translation brings even more automated translation tools to the table. The Asia-Pacific region is one of the fastest-growing language service provider (LSP) markets, primarily in China and Japan. It has awarded 5073 contracts to 1181 companies, with an average value of $612,198 per company. 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. There are many factors that influence translation costs: language combination, timeframe, topic, volume, quality assurance, layout formatting, etc. they need to maximise efficiency. and this means we have been able to implement these technologies over the years This online event will explore the effects of the COVID-19 pandemic on research translation practices and business-academia collaborations. Your comment will be published as soon as possible. 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. 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 … What do multilingual brands really need from translation services. 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. In … What if 2019 was just the tip of the iceberg for the translation industry? 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. That’s despite a tough economic climate, political upheaval in numerous countries and all manner of happenings around the globe. The world of translation and interpretation has been positively impacted by the advent of technology. 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. 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. With global distances collapsing to a mere click of a button, humans can access greater amounts of … We expect post-editing of machine translations (PEMT) to be a top trend in the translation world in 2020. 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. Read on to discover more! 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. Business translation, along with business interpretation, is an essential part of this. Indeed, nothing is sacred when it comes to transcreation, other than the original intent of the marketing materials. Read more: Translation Industry Trends for 2019. Global Translation Service Market, Dynamics: The translation industry has grown every year. What about more obscure languages? is larger than the supply of quality translators and the only way to close this Certain trends relate to supply and demand, as both the services themselves and the providers of the services are … 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. Nimdzi Insights ≡ The Nimdzi 100 is one of our flagship publications. Unsurprisingly, many of the key trends for 2020 are technology-driven, as is the case for most industries in the digital age. Medical translation will play an even more important role in 2021 as we start to get vaccines all over the world. 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. It takes communication between industry experts to a different level and helps strengthen bonds and build connections. technology-driven, as is the case for most industries in the digital age. Javascript is disabled in your browser. Following the scenario-based planning methodology participants in the conference will brainstorm about the plausible outcomes of this global crisis. However, the organizers wanted to provide a different experience, thus giving birth to UTICamp. Reinventing the Translation Industry Recordings & Report. one thing, companies like ourselves work with a growing list of clients every Translation need can vary based on a number of factors, but economic developments and political factors are often key contributors. 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. Paste a long block of Spanish text into Google Translate and ask it to deliver the copy in English and you’ll see why. clients. According to recent studies from Common Sense Advisory, the translation industry is … 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. Medical Translation. The figures will add further weight to the trend for businesses to try combining machine translation with post-editing services in 2020. machines (the technology simply isn’t there yet), but giving translators the tools sentences and simple documents with a certain amount of accuracy. While business partnerships might seem difficult between Chinese and US companies, given the bigger picture, there are plenty of major US companies relying on Chinese manufacturing in order to produce their goods. The Future of the Translation Industry by Adolfo Hernandez December 29, 2017 - read time: 10 min When speaking at the recent SlatorCon in Zurich, I stated that the language industry has reached an important, and exciting new juncture, as digital technology becomes ever more prevalent in our lives. Therefore. The translation industry can’t stay still for long, We also anticipate that German translation professionals will find 2020 is a busy year for them. year as the demand for translation (and other language services) continues to 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. 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. Posted on November 21, 2019. 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. 2020 Global Translation Services Market, Industry Trends, Revenue Growth And Top Key Players 11-25-2020 09:22 AM CET | Advertising, Media Consulting, Marketing Research Press … when it is combined with other tools (not only translation tools, either) and 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. 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 … This means that, while the demand for translation services continues to grow, the role of the human working as a foreign language translator will change significantly. 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