Global Machine Translation Market: Increase in Localization of Video Content In February 2019, Dr. Alexander Waibel, a professor at Computer Science at the Karlsruhe Institute of Technology (KIT) Germany and at Carnegie Mellon University developed with his team, JANUS, a speech translation system. It can include short-form videos on YouTube or long-form videos on services like Hulu, Netflix, etc. However, to strive and thrive in an era where new translation industries spring like mushrooms, translation industries need to understand and follow the trends that will impact their business massively. In recent years video content has significantly increased and it is estimated that in 2021 1 million minutes of video…, In December 2020 Amazon launched Alexa's Live Translation feature which allows Alexa to act as an Interpreter. Spanish translation was highly sought after in 2019 and will continue to keep translators busy in 2020. Learn how your comment data is processed. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024. Machine Translation Market - Growth, Trends, and Forecasts (2020 - 2025) The Machine Translation Market is segmented by Technology (Statistical Machine Translation, Rule-based Machine Translation, Neural Machine Translation), Deployment (On-premise, Cloud), End User (Automotive, Healthcare, Military and Defense, IT, E-commerce), and Geography. © Language Insight 2021. In the latest Cisco Study Visual Networking Index (VNI) forecasts, “1 million minutes of video will be streamed or downloaded every second in 2021. Machine Translation (MT) Market 2020 Global Industry Trends, Statistics, Size, Share, Regional Analysis by Key Players |Applications and End-User 2 min read 2 months ago anita 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. The Top 4 Trends in the Language Services Industry for 2020: The Future of Translation January 17, 2020 February 3, 2020 We’re now two weeks into 2020: A date which not only represents a brand new year, but a new decade. It has become a popular and accepted method among all age groups. Required fields are marked *. Post-editing Machine Translation. In this article, we’ll reveal to you the top 5 translation services trends and outlook in 2020. This makes it the most spoken language in the world, and the second-most utilized online behind English (25.4 percent).”, This Business Wire stated, “The growing tourism industry in countries such as China, India, Indonesia, Singapore, Thailand, and many more is contributing to the demand for speech-to-speech translation.”. What challenges await Polish translation agencies in 2020? Translation need can vary based on a number of factors, but economic developments and political factors are often key contributors. 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. Video content is already dominating the internet as Cisco Study Visual Networking Index (VNI) forecasts that “1 million minutes of video will be streamed or downloaded every second in 2021. Let’s take a look at what will be the top trends in the translation industry in 2021. For our final post of the calendar year, we look back at some trends of the translation industry in 2020. Post-editing machine translation PEMT – the new standard. 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. 2019 is already shaping up to be an exciting year for the translation and language industry. Translation industry market research and trends is a vital resource for understanding the increasingly complex and fragmented language industry. Now, there has been a steady development of a new method, Voice Search. Let us know in the comments below! Transcreation is commonly used for marketing materials that companies want adapting to suit their overseas target markets. Like any other year, there are emerging trends in 2020 as well. This will also mean that international SEO will continue to be extremely valuable to expanding businesses. subtitling, dubbing and voiceover services. There are numerous great trends providing perks to the people in the know. Furthermore, Waibel invented Jibbigo, the first commercial speech translator in iPhones, and more recently the first real-time simultaneous speech translation system for lectures. 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. Voice Search allows users to use technology like smartphones, computers, smart devices to search the internet by asking a question or stating a phrase, verbally. The translation sector is very dynamic and new trends are appearing all the time. Post-editing Machine Translation (PEMT) technology has become a top trend in 2020, as it is moving towards a new quality level, which is faster, easier, and super profitable for businesses. on December 27, 2019 Digital technologies are set to revolutionize the translation and localization industries in 2020. It is expected to become increasingly vital as businesses try to reach as many consumers as possible. The first attempts at machine translation … Top translation industry trends in 2020 that you can’t afford to miss. Companies need of switching to multilingual services has increased. 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. Telephone Interpreting in 2020: Industry trends. The localization field will continue to expand into 2021 with predicted growth of up to $56.18 billion USD. Trends are dynamic. Thus, China will become an important economic power and the language, Chinese (Mandarin) will follow also have a sense of importance in the Translation Industry. Posted on November 21, 2019. Market Size & Industry Statistics. Within the translation industry proper, machine translation is a different proposition. Video Translation is the process of having audio and video professionals who take the video footage provided and create subtitles for various languages wanted and/or needed. 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. Your email address will not be published. But what will 2020 have in store for the translation industry? Translation industry overview Over the last ten years, the global language service market had witnessed significant growth, doubling its size to reach $49.6 billion in 2019 . So let’s have a look at the top five trends of the translation industry in 2020. Additionally, websites that completely localized their content see a 70% rise. The first trend of the translation industry. 2020: Trends in Machine Translation for the Language Industry The machine translation landscape is blossoming, yet organizations are still trying to figure out how … 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. They shift every year with the slightest or the biggest change in any and every industry. Medical translation is expected to be one of the major trends in the translation industry for 2021. With tight deadlines and the need to cut costs, translators must learn to integrate CAT tools in their everyday tasks. 4 Trends for The Translation Industry in 2020. 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