The recession has had a devastating effect on some businesses but it has merely affected others, like shown by the translation industry trends.
Translation industry trends
Business professionals state that Translation businesses are recession proof. Figures put it among the tens of billions of dollars a year industries and the value increases every year.
Better language services
Two of the factors that make all language translation services so prolific are globalization and the internet.
Yet, not everybody agrees that language services are recession proof and that growth does not mean that translation providers have increased revenue. They say this is generated by the diversification of language services.
Language services now include:
- Interpretation,
- Translation,
- Localization,
- Internationalization,
- Supporting technologies.
Diversity is important
Diversity shown in the translation industry trends means that companies are looking for alternate revenue streams, and that is a clear sign that the industry was affected by the recession.
Another compelling argument is the decrease in word prices. A recent survey of Common Sense Advisory shows that in the last two years prices per word have gone down, another sign that the industry was affected by the recession.
Some business professionals say that these are actually normal stages in a growing industry and it is up to current players to adapt.
The Trends
Several industry specialists are making predictions about what to expect in different industry niches, including the translation industry trends. The translation may not be as noticeable as other industries, but it’s a service industry that is employed by all businesses with a global appearance and those that deal with the multilingual public.
Individuals also have a use for translation services. Several areas of translation are supposed to come to the fore in 2019.
Higher Search for Machine Translation: Machine translation tools help translators promote their work. These are productivity devices, such as the ”translation memory tools” that assure compatibility in vocabulary that is replicated in the project.
Translation will be a Must: Geographical boundaries are getting smaller due to social networking and the Internet. As companies continue their global services, the translation will not only be done as required but part of the business strategy and process.
Development of Translation-Based Apps: Although this is not viewed as a replacement for human translation, apps that can help people learn the common sentences and expressions in other languages are required to be in style in the translation industry from 2019 and onward.
Choosing professional translation services gives way more benefits than choosing machine translation or not translating at all. The very first advantage is that the documents or the content will be translated taking into consideration not only the linguistic differences but also the cultural differences. The cultural difference is a significant factor when it comes to translating into a foreign language. A phrase in English, if translated literally into Chinese or any other foreign language might pose an entirely different meaning. In some cases, literal translation can offend the people of the other country. Other than this, translation companies offer proofreading services which are very important to check for errors. A small mistake can cause a significant problem for the people. Proofreading is essential, and it must be carried out by professionals because while we might miss an error, professionals know their work better than us and they won’t. These are the benefits of choosing a professional service when you need them.
Whether the industry is recession proof or not is still debatable, but while the translation industry trends indicate it is not, we would love to know your opinion on this subject.
