10 Must- Know Facts About the Translation Industry

10 Must-Know Facts About the Translation Industry

As a translator or someone interested in the translation industry, it is important to stay well-informed of the latest trends and developments. The translation industry is constantly evolving, and so too, should you as a translator. Knowing these 10 facts will help you stay up to date on what is happening in the industry, allowing you to make more informed decisions that are best for your business.

1) The translation industry is growing rapidly. According to Common Sense Advisory’s report “The Language Services Market: 2018”, the global language services market grew 6.97% from 2017 to 2018 and was valued at USD$47 billion in 2018. This number continues to grow each year as businesses recognize the importance of localization and internationalization for their products and services around the world.

2) Machine translation (MT) is becoming more widely used. MT has become increasingly popular due to its low cost, high speed, and ability to provide consistent translations quickly and efficiently. The quality of MT output can vary greatly depending on how it has been trained, but with advancements being made every day, it may soon be able to match or even surpass human translation accuracy levels—a major factor that could disrupt the traditional translation industry.

3) Professional translators are still in high demand. Despite MT becoming more widely used, there will always be a need for professional translators who can provide high-quality translations tailored specifically for their target audience. So don’t worry; translators have nothing to fear from machine translation technology!

4) Quality control processes are essential for ensuring high-quality translations. Quality control processes such as editing and proofreading should not be overlooked when providing translations as they help ensure that any errors or discrepancies have been caught before submitting final deliverables to clients. By having quality control processes in place, you can guarantee that all translations are accurate and meet client expectations without fail.

5) Automation can help streamline your workflow processes. Automation software such as XTM Cloud allows you to automate tedious tasks such as project management, file handling, glossary management, asset tracking, etc., freeing up time for other important tasks like quality assurance checks or research work on target language topics relevant to your projects. Automation software also helps ensure consistency across all translations by enforcing rules such as style guides or terminology checks which would otherwise be difficult (or impossible!) for humans alone.

6) Localizing multimedia content requires special skill sets. Multimedia content like videos or audio recordings requires specific skill sets from translators who have experience with different formats like subtitling or dubbing. Translating multimedia content also requires an understanding of how different cultures interact with media differently, so localizing this type of material needs specialized knowledge beyond just language proficiency.

7) Technology adoption varies significantly between countries. The adoption rate of new technologies like machine learning, artificial intelligence, cloud computing, etc., varies greatly across different countries, making it important for translators working in multiple regions/countries to understand these differences so they can adjust their strategies accordingly.

8) The freelance market is growing exponentially. Freelance translators now account for over half of all translators worldwide —according to Common Sense Advisory’s report “The Language Services Market: 2018”, freelancers made up 53% of the total market share. This means that if you want success in this field, having a strong online presence and good networking skills has never been more important!

9) Working remotely has many advantages. One major advantage of working remotely is increased flexibility —you can work from anywhere at any time without having to worry about commuting or office hours! Additionally, remote working eliminates geographical boundaries when it comes to finding potential clients —you could work with companies based anywhere around the world!

10) Certifications are useful tools for increasing credibility. Certifications from organizations like ATA (American Translators Association) demonstrate knowledge across various areas such as medical, legal, financial, etc. Certification programs also test your aptitude on topics such as CAT tools usage & project management which are helpful when taking on larger projects with multiple stakeholders involved.

Being informed about what’s happening in the translation industry helps keep your business competitive while staying up-to-date with current trends helps guide better decision-making regarding your own business practices. Understanding these 10 facts gives you an edge over others who may not know them use them wisely!