The previous years (2020 and 2021) proved to be unusual for the translation industry. Thanks to the Covid-19 pandemic, all the different sectors saw gradual fluctuations and a significant impact (both positive and negative). Now that we are into the year 2022, it’s time to know how the translation industry trends will change. Which of the trends will rise, and what will be the impact on the whole industry? Let’s find out below!
State of the Translation Industry
The translation industry proliferated till 2020. The market worth of the industry was above $47.5 billion in the year 2020. The overall growth of 2021 crossed the figure of $51.6 billion. Owing to the previous figures, the year 2022 will cross the $54.8 billion and reach $57.7 billion. The rapid rise in the sector is due to the ‘new normal’ attained after the pandemic. Plus, it is due to the evolution of technology.
Machine Translation is one of the major sectors in the whole translation industry. The best part about machine translation is that they are cost-effective and relatively fast. However, many individuals think that machine translation is unreliable and inaccurate. But this isn’t the truth; in fact, machine translation is the future of the industry and rising translation industry trends.
With the hit of the pandemic, many individuals, sectors, firms and organizations knew the importance of E-learning. The ease of access and convenience of e-learning made it an essential aspect of the translation industry. People can learn new skills, advance their careers, and much more. The course materials available in multiple languages will help business owners to expand their businesses. The translation industry will support learners and businesses to reach new markets.
The demand for business translation will see a significant rise in the year 2022. The reason is that businesses and firms are shifting the way they do their business. They are moving their business tasks online. Not just this, they are planning to adopt a new online service delivery model. Business owners won’t be limited by geographical limitations. In fact, the localization industry translation will go hand-in-hand to support businesses.
Due to the pandemic threat, the medical sector will keep on rising in the year 2022 too. The medical translators will see a spike in the market due to their intense knowledge and linguistic capability. To help people know about the fluctuations and the unnecessary viruses, medical translation is exceptionally vital. For accurate and timely processing of medical information, the channels of medical translation industry trends come into play.
Media Localization is one of the best sectors that transfer creative media content to attract an audience that speak other languages. However, this task is much more than just translating a language. Accurate translation will remain in demand with no signs of decline in the year 2022. Businesses can choose different formats to make them appealing to existing and new customers.
Due to the advancement in technology, speech translation will rise in demand in 2022. The demand for speech translation will cover speech-to-speech translation along with speech-to-text translation. The speech recognition software has come a long way since its launch. The growth proves to be beneficial to the speech translators, interpreters as well as developers.
For years, we’ve heard about artificial intelligence and how they are expanding in the competitive era. As previously mentioned, machine translation isn’t perfect, and in fact, it can be time-consuming in many cases. 2022 will bring advanced solutions to the table, ensuring that businesses and users get to benefit from them. The AI technology will ease the complications of machine translation, giving you a hedge against the competition.
People are communicating, working and managing everything online. Remote translating will see a boom in the highly competitive market. From companies to businesses to clinics, remote translation will become an essential part of the translation industry trends . The digital transition won’t affect the translators at all. In fact, it will prove fruitful to the language service providers. With Corporations becoming adapt to the distant arrangements, the translation services are benefiting the people.
Video & Podcasts
For every business to thrive in the highly competitive world, it’s vital to adapt digital means of communication. Videos and Podcasts are two significant examples that are boosting demand. With nearly 82% of the global Internet traffic available, it’s essential to have control over the video streaming ways. The multi-language videos and podcasts will help businesses to connect with different people around the world.
Globalization & Translation
Technology is spreading beyond borders, and this is why the globalization and translation trend will become extremely popular. Companies will shift towards workshops, online events, reports and much more to improve visibility. Business owners can expand their business to each and every corner of the world. The expected growth of the business will entirely depend on how well they reach the non-English audience. This means that they will reach their potential customers effectively.
Indian Language Translation
The growth of Indian language translation is the same as the other sectors as well. Many Indian businesses and big firms consider the Indian language translator that translates a specific page into other foreign languages. In India, many firms are looking to compete with the top contenders in the world. This is why they are considering the opportunity to attract people around the world.
Marketing Content Translation
Marketing content translation focus on translating the content of a particular company from one language to another. The core purpose of marketing content translation is to help the business to gain non-English speakers as customers too. With every information available at their fingertips, users are using the online method for every activity. Whether it’s the purchase of a product or service, they analyze different aspects online. This is why business owners are considering marketing content translators to expand their business reach and drive profitability. The growth of the marketing content translation will keep on rising due to the benefits that come along with it.
How Much Does A Translation Cost?
The general cost of translation in the US starts from $0.10 per word. It can vary depending on the type of translation. Check out the factors that affect the cost of translation.
The cost of translation will depend on a wide range of factors. From the number of words being translated to the linguistic combination to the language combination, the price will vary as per the translation. For instance, if the language combination is rare, like English to Japanese, it will cost you a higher price. On the other hand, you need to pay less for English to Italian translation. Apart from it, the terminology technicality is taken into consideration. If the terminology is technical and specific, you need to pay an extra amount. Some other factors that affect the pricing of translation include the urgent delivery date, formatting work, certain types of translation and much more.
So this was a complete list of translation industry trends in 2022. These trends can impact the way you run your business in the industry today. This is why you need to adapt to the advancements and adapt the technologies that help you to grow your business. If you’re looking to establish a promising career in a field that is high in demand, you can prefer translation services.