The size of the translation industry
How big is the market for outsourced translation services? Which are the most demanded languages and what new trends can be identified? What is the market size of the translation industry? These and other questions are to be answered in this blog post. Read on about the translation industry.
The market size of the translation industry
According to the U.S. Bureau of statistics report the market size of the translation industry is expected to grow by 42 percent from 2010 to 2020.
Especially the demand for frequently translated languages such as French, German, Italian, Portuguese and Spanish will remain strong. Also Arabic and other Middle Eastern languages as well as the most widely used Asian languages such as Chinese, Japanese and Korean will remain in high demand.
For translators worrying that computers will soon be able to replace human translations it has to be said, that only parts of the translation job can be automated by now. It is not expected in the near future that translation work can be done entirely automatic. The work of translators got and will get easier due to computers in the future, that is given.
The market size of the translation industry is $33.5 billion in 2012
It is a fact that the translation market is not that much affected by recessions. The highly fragmented market for outsourced language services was estimated by Common Sense Advisory to be $33.5 billion in 2012. $33.5 billion is a lot.
The market for outsourced translation services was in 2012 already huge and it is still growing up to 42 percent until 2020. The most important reason for this growth is globalization. Machine translation and other computer assisted translation mechanisms will learn and get better and prove to be more efficient. On one hand this efficiency is on the translators side, resulting in faster and more reliable translations. On the other hand companies will have to pay less for the same amount of translation work.
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