After the 2020 pandemic, the world is shifting to online work literally. Due to pandemics, people forge new working ways with flexible procedures and agile technologies leading change. It accelerates different business approaches, such as how to serve customers, collaborate, and work with vendors. Remember, 2024 translation industry trends and stats are completely different.
Machine Translation
It is an important sector in the translation industry because it is fast and cost-effective. Several people consider it inaccurate and unreliable, but it represents the future of the translation industry. It will play an important role in introducing new trends in the market.
Transcreation Translation
Generally, transcreation means marketing translation and surfaces between copywriting and translation. The translator is responsible for taking the actual intention of the company’s marketing materials and conveying it to the potential audience.
Logistical and technological advances allow companies to reach a global audience. You can change product names, images, icons, names, etc. Make sure to preserve the actual intent of the text. Nowadays, customers need personalized and unique experiences; therefore, demand for translation and transcreation services is increasing.
Increase in e-Learning Platforms
2024 translation industry trends and stats show an increase in e-learning platforms. The pandemic increased the adoption of online learning to a new level. Everything is possible, from studying to gaining new knowledge and joining online courses, because of e-learning platforms.
Overall, e-learning is the main trend in the translation industry. Fortunately, e-learning tools allow everyone to access the content. Online study is now a common practice, and the audience can get the best resources through online classes.
2024 Translation Industry Trends and Stats
Currently, cross-linguistic barriers in commercial projects increase the demand for translation services. The latest translation industry trends play an important role in its growth, and this industry has a bright future. In 2019, the worth of the worldwide global service market was $49.6, and it will grow to $56.18 in 2021. You can see a growth of $5 billion in only two years.
Europe owns almost 50 percent of the worldwide language services industry at 49 percent, and North America is 39.41 percent. The size of the translation market grew by almost 40 percent during the pandemic.
Remember, the value of only the machine translation industry was at $650 million in 2020, and it can be $3 billion b 2026 to 27. Translation demand increased to 49 percent in the healthcare industry because of healthcare information related to COVID-19.
Subtitling and Video Translation Services
The online education market will reach $325 billion in 2025. It shows amazing opportunities for companies to design their content for different audiences. Undoubtedly, video subtitling and translation may play an important role.
Several online courses are available only in English. It can decrease the potential audience of these courses. At the same time, there are numerous opportunities for translators. They may hire translation services to increase their audience.
Undoubtedly, there will be a clear increase in demand for video translation services in 2020. The above information is enough to understand 2024 Translation Industry Trends and Stats.
Artificial Intelligence Adoption in MT Tools
Artificial intelligence integration is an important trend in the translation industry with several machine translation tools. In the future, you can see wide-scale AI adoption for translation software. Indeed, artificial intelligence is available in premium translation tools and software. At the moment, these tools offer raw translation. You may not get advanced features in free tools with the premium edition.
Undoubtedly, artificial intelligence allows machine translators to use vocabulary glossaries to improve translation interactively and create special machine translations. It will increase tangible benefits for users as they plan translation objectives.
Instead of relying on post-editing, users can pre-edit machine translations. They can upload specific terms in the system that they want in their translation. As a result, they can upload important terms they want to use. It will decrease the necessity of post-edit machine translation.
Several systems offer special training for machine translation and glossaries for custom translation. Perhaps, the machine translation can perform learning for custom translation during real translation requests.
SEO for Localization
The SEO involvement in localization procedure is significant for 2024 translation industry trends and stats. Businesses depend on SEO to get new customers after losing social media traction. In the future, the translation industry will emphasize SEO keywords and term-base glossaries.
SEO copywriters play an important role in local projects by working under tight character count limits and brand guidelines before sending projects to translation. This process requires considerable effort; therefore, companies need special terms and glossaries to align with branding. Undoubtedly, these reusable terms are important for SEO strategy.
Demands of Freelance Translator
The latest trends in the translation industry have a scope for freelance translators because of sustained economic growth and employee turnover rates. Nowadays, freelance workers can get several work opportunities to avoid unfavorable work. Bilingual employees are now working as freelance translators.
Quick Translation Turnaround Requests
The world emphasizes working four days a week. It will increase demand for quick turnaround times. This trend may have a side-effect for businesses because it conflicts with business growth.
Employees are leveraged for different translation projects to accelerate the translation and offset delayed turnaround.
Several growing industries need specialized language translators. You can expect increasing demand for translation in the energy, transportation, and hospitality industries. Moreover, companies need communication material with special terminology.
Blockchain and Translation Industry
Entry of blockchain technology will benefit the translation industry. You may see drastic progress in this industry in upcoming years. Remember, blockchain will address different issues, including post-editing transparency, real-time translation, accuracy, and security.
Podcast for Translation
Podcasting is popularly increasing, and its growth will not stop soon. A successful podcaster can make plans to reach an international audience for growth. In the future, you can see podcast translation services emerging as an important trend in the market.
Identity Management Software Translation
The 2024 translation industry trends and stats show the importance of identity management for security. Businesses need secure translation solutions, and identity management can be a good addition to several platforms.
Perhaps, third-party access and identity management services are SSO, Microsoft Azure, and OKTA. These will be common in the future to avoid security and access issues. These tools will be beneficial to increasing the efficiency of IT teams.
Localization Demands for SMS Marketing
Undoubtedly, SMS marketing plays an important role in the e-Commerce world. It is important to make it perfect in different languages. For this reason, SMS advertising localization will need translation services. It will be a new trend in the machine translation industry.
SMS format has some technical limitations; therefore, localization can be difficult. This translation trend will be successful because SMS is becoming an important marketing channel. Undoubtedly, the standards of SMS marketing are really high.
Translation and Digitization of Hard Documents
Initially, people thought that translation trends were outdated. Indeed, working in an office is becoming an outdated trend. Companies now need reachable storage space for paper documents secured in wooden cabinets. The cloud is the safest, most centralized, and lowest-cost storage space.
Now, people are moving towards digitalization that needs scanning of paper documents. In the digitalization process, you can see scanned PDF translations. Scanned documents have a reputation for involving some technical obstacles in translation.
Old and New Translation Trends
According to 2024 translation industry trends and stats, post-edit machine translation is a notable trend. You may see it in the future with some modifications. It is time to modernize your translation, which is possible with the latest tools and technology. Some powerful translation tools work really well in the online world.
AI and Automation
Indeed, the digital world has to deal with huge amounts of data, and there is an increasing demand for localization and translation of content. Hence, artificial intelligence is becoming common. Several worldwide companies want to optimize their localization workflow and translation. However, artificial intelligence is needed for every business.
A Gartner report suggested revenue of $2.9 trillion for business after integrating artificial intelligence augmentation. Undoubtedly, it will increase hourly productivity to almost 8 billion. At the moment, artificial intelligence plays an important role in automating workflows. For this reason, it is expected that artificial intelligence can automate and improve the revenue and efficiency of businesses.
Undoubtedly, artificial intelligence translation can improve the efficiency of the localization and translation process. It is introducing advanced tools to work at their maximum capacity and improve the speed of every task. However, artificial intelligence allows you to follow the best strategy to deliver high-quality results.
Final Words
Overall, the translation industry is constantly evolving at an excellent speed. The world is quickly embracing advanced technologies to make their lives easier. Moreover, translation technologies are expanding to deal with gigantic digital data.
You must deal with people from different cultures and regions in the international marketplace. Translation allows you to deliver a message in different languages. Besides the internet, the translation industry connects people by providing them with the best services. They can collaborate for worldwide growth and make this world a peaceful and beautiful place for everyone.
