Localization for globalization is the need of the hour. Enterprises are engaging more now in translation to localize their businesses and expand their business strategies across different locations around the globe. So much so, that the translation industry is currently experiencing a huge growth, which will continue through 2021, with an estimated market value of $56 million1. Once an add-on requirement for global businesses, the language translation is now an indispensable tool for growth and expansion, resulting in the rise of newer and exciting trends in this space. As the language industry continues to evolve, we need to keep a tab on these top language translation trends that will reshape translation services for global businesses.
#1 Emphasis on regional languages will increase
Ethnic diversity has become a cornerstone of business operations and organizational culture across the globe. Particularly across Europe, where all countries use their native language for official documentation, marketing, etc. or in countries like India, which is linguistically rich and diverse, it is imperative for businesses to communicate with their audience in the local languages, and embrace the ethnicity. This will serve two long-term purposes. One- these regions will open up opportunities for the development of language and translation applications, which will use localized parameters befitting the culture. And two- it will encourage more businesses to expand to these markets, not just as a foreign entity but more as a local organization in sync with regional nuances.
#2 Radical growth of video localization services
Nearly 80% of digital content2 is dominated by video as of today and will continue to remain a top trend in the coming years. The translation industry will reap its benefits by localizing the video content and helping businesses expand to global markets. From custom user messaging to pitching new products, virtual meetings, training videos, product updates, etc. videos in local languages will ensure a more efficient and accurate messaging, thus helping them find their niche in different geographical locations.
#3 Artificial Intelligence and machine learning will drive services
The global AI application space is expected to reach $1.9 trillion3 this year, thus making it more prominent than ever. While AI is being roped into all possible industry spaces, across different business functions, the translation service industry will harness its best benefits. One of the biggest advantages of AI is its ability to capture data points and understand linguistic nuances, which might be difficult to achieve manually, or even using mainstream machine learning tools. Leading companies like IBM, Google, Microsoft, Amazon, Apple, among many others are developing AI-based applications that will redefine translation services in the coming months. Neural Machine Translation (NMT) coupled with human post-editing is gaining momentum. It uses algorithms that can learn the finer nuances of languages and their cultural conventions, thus achieving more accurate translations. The combination of NMT and human editing will become a popular practice for enterprises to adopt.
#4 Voice recognition will become more prominent
Speaking is essentially faster than typing, which makes voice recognition an important application today and also a language translation trend that will last beyond this year. When it comes to translation and language services, voice-recognition becomes all the more indispensable. If the rising demand for translation and localization has to be met, then voice recognition programs will need to be integrated. The technology will soon overrule predictive typing and become a go-to tool for the translation industry.
#5 Translation services will become more cost-effective
With digital technology driving globalization, businesses are increasingly eyeing foreign markets, thus needing translation services more than ever before. As such, language service providers have set out to make translation and localization services more cost-effective for enterprises to adopt easily and grow faster, thus also helping them achieve better ROI.
With ongoing internationalization, applications, documents, products, and services will continue to be localized for specific geographical and cultural markets. And these language translation trends will continue to thrive in this year and beyond.
The global language translation industry had touched $46.5 billion4 in 2018 and continues to grow. This also means that the number of language services has also increased, thus tightening the competition. For language service providers to remain productive and efficient among their contenders, they need to harness the power of the latest language translation trends and technologies and make themselves stand out. As 2019 exposes more businesses to globalization, with the need for localization of services, the language service industry will only see an upward growth curve over the next couple of years. Moving away from working as a service add-on in silos, language translation will become an on-demand, interactive, service for businesses to win over global markets and become an integral part of local communities, which will eventually drive business growth.