Our final 2020 translation trend is video translation. For example, localization services was only really took off in the late 80s and 90s. Indeed, Technavio reports that an increase in video content localization will deliver a positive impact on the market, contributing significantly to its growth. 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. 5 Trends of 2020 in the Translation Industry. 4 Trends for The Translation Industry in 2020. Even if AI only translates 20% of a document with enough 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. The year 2020 is set to be the most difficult for most of us in decades. Globalization has generated consistent expansion in the industry—which is expected to reach $45 billion by 2020. 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. Nimdzi Insights ≡ The Nimdzi 100 is one of our flagship publications. 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. Establishing such global partnerships would be far harder without the aid of transcreation. Towards the end of every year, the Tomedes team sits down to think about the future. Those that pay most attention to the way that they do so will be best placed to benefit. Overview. hinted at in the intro, technology is more of an evolution than a revolution is larger than the supply of quality translators and the only way to close this 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. Students will engage with industry collaborators and asked to manage real translation projects. 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. been working towards 2020’s biggest trends for a number of years already. content to be translated, to the machine tanslation engine. and this means we have been able to implement these technologies over the years 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. 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. We expect post-editing of machine translations (PEMT) to be a top trend in the translation world in 2020. These technologies are now at a point where they are ready terms of accuracy or dealing with complex language, but it can handle basic 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.. Global Translation Service Market was valued US$38.80 Bn in 2019 and is expected to reach US$ 45.60 Bn by 2027, at a CAGR of 2.33% during a forecast period. It is a service that can work past the threats of the bigger picture in order to overcome cultural barriers. translation industry, they come at a time where demand is only increasing. Leave a comment below to let us know the top translation need within your business for 2020! The world of translation and interpretation has been positively impacted by the advent of technology. 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. 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. 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. 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 … 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. Size of the industry. The figures will add further weight to the trend for businesses to try combining machine translation with post-editing services in 2020. one thing, companies like ourselves work with a growing list of clients every By Lingual Consultancy Services . accuracy to work with, that is 20% human translators can simply quality-check Phone * Looking For * 1. Mandarin isn’t the only language that will be keeping the translation industry busy this year. Indeed, the World Bank hailed it as “the fastest sustained expansion by a major economy in history.”. The world of translation and interpretation has been positively impacted by the advent of technology. Voice is another interesting intersection of translation and content. 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 … The latest translation technologies usually take the limelight and all the fanfare. Are you planning to expand into new territories, using transcreation and video translation to ease your passage? Read more: Translation Industry Trends for 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. It has awarded 5073 contracts to 1181 companies, with an average value of $612,198 per company. to make a real impact in 2020, but we have already got years of experience in gap is with technology. 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. Medical Translation. 2020: Trends in Machine Translation for the Language Industry The machine translation landscape is blossoming, yet organizations are still trying to figure out how … 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. You are here. Translation need can vary based on a number of factors, but economic developments and political factors are often key contributors. Medical translation will play an even more important role in 2021 as we start to get vaccines all over the world. Perhaps it may one day, but we’re nowhere near that point yet. 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. 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. 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. 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. This will be essential to daily life as we know it in 2020! The human being is certainly involved in providing input, i.e. 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. 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. Posted on November 21, 2019. this article, we are looking at seven key trends for the translation industry 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. increase. Newer services in the translation industry will emerge. China, in response, has imposed tariffs of more than $110bn of products from the US. With global distances collapsing to a mere click of a button, humans can access greater amounts of … Therefore. 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. constantly needing to adapt to evolving trends. The global machine translation market is expected to post a CAGR of more than 19% during the period 2020-2024, according to Technavio. At the time of writing, the US has imposed tariffs on more than $360bn worth of Chinese goods. 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. I’ll be joining a panel with Paula Shannon and Jost Zetzsche to debate the future of the translation industry. However, the organizers wanted to provide a different experience, thus giving birth to UTICamp. That number increased to a staggering 62% by 2020. 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. 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). This online event will explore the effects of the COVID-19 pandemic on research translation practices and business-academia collaborations. What will be the state of the translation industry in the summer of 2021? In 2020, we’ll see the translation industry respond to this in force. Which of these translation trends will your business be contributing to in 2020? and refine our own systems to deliver the best results. In just 25 years, McLuhan's theory of a Global Village became a reality. Also, we highly recommend that you check out the upcoming Translation Technology Round Tables that will be held in the US and in Europe in 2020! Automation is a reality in the translation industry. Market Size & Industry Statistics. The Ukranian Translation Industry Camp is one of the largest translation and localization industry events in the whole of Ukraine. According to recent studies from Common Sense Advisory, the translation industry is … Telephone interpreting may have a relatively short history, but it is a field that is constantly evolving, and many interesting developments are currently underway.. One word: Google. Launched in 2014, the "Translating Europe" project brings together translation stakeholders, such as universities (in particular those belonging to the European Masters' in Translation Network), the language industry, national language institutes, translation services of the public sector (or authorities) in the Member States and professional associations. when it is combined with other tools (not only translation tools, either) and 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. 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. 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. shorter time-frames. In … 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. As such, we expect to see a notable uptick in video translation once more this year. Global Translation Service Market, Dynamics: The translation industry has grown every year. Exciting times will ultimately lead to more exciting times in 2020. welocalize • October 18, 2019 Insights from the Technology Round Table, European edition. And for those looking to sell internationally, it means more video translation. 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