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Translation Industry is getting bigger
2016-04-21 / in Maxsun / by admin

Translation Industry is getting bigger

Being operating in a global translation industry, businesses like Maxsun, a leading provider of high end translation services, find it important to be aware of how big the translation service market is, which are the most demanded languages and what trends can be identified in the industry for achieving higher efficiency and customer satisfaction. In this article, we will discuss these questions about the translation industry. It is equally important for the corporate businesses hiring translation services, to know the industry size so that they can better choose the right one for their business translation needs.

There is a good news for the translators who are worried thinking that technology is going to replace human translations in future. The good news says that just parts of the translation task can be done through machines now. Thought technology is highly advancer than before, machine translation is still just an enabler to do translation faster or utilized for gisting, but not for the professional publishing. Therefore, there are lesser chances that translations would be completely automated in near future. The growth in the demand for professional translation service is significant. Taking English being the source language, the demand for the frequently translated languages like German, French, Italian, Spanish and Portuguese would remain specifically strong.

Under the term “Translation services”, there is an industry that includes businesses that translate written content, offer interpretation services from one language to another. This also includes those businesses that give sign language services for the disabled. General translation services offered by the industry include documents translation i.e. paper based documents translation or translation of digital documentation, software translation and the website translation, which is also termed as localization. This also included website translation into foreign languages with different sub domains. Localization also considers local linguistic and cultural traits, diverse keyword trends, which is normally used as a sales and marketing tool.

It has been revealed by the latest market studies that translation market is not greatly affected by recessions. It is quite a fragmented industry with spot number 1 claimed by the military contractors and top 10 businesses ranging from USD 427 million down to USD 4 million, as reveled by Common Sense Advisory report. As estimated by IbisWorld report, the translation service industry is going to reach USD 37 billion by 2018. The United States makes the largest single market for the translation services, while Europe is on second position. Asia has been observed as the largest growth market. As per US Bureau of Statistics, translation industry is expected to achieve 42 percent growth from 2010 till 2020. Maxsun is the significant and leading entity in the Asian market with pioneering in the field, offering diverse translation and localization services for the businesses. As the Asian markets are expected to grow, Maxsun also aims to extend its services to more regions.

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