5 Language Translation Industry Trends and Statistics for 2023
From the rise of AI and transcreation to increased demand for B2B localization, there are many trends and new tools the year has brought. Join us as we unveil the 2023 trends for the translation industry and how we collaborate and communicate with the rest of the world, bringing people from different cultures together.
5 Trends of 2023 We Found Interesting
1. Rapid Adoption of Machine Translation Editing
Machine translators and tools like AI are used to achieve quick translations, which is causing many companies to adopt them into their systems. However, the translations generated must still be reviewed and edited by humans to eliminate errors and incorporate effective localization. With this in mind, companies will continue to use machine translation with human editing to achieve fast translations that do not compromise quality.
2. Growth in Transcreation and Interpretation
Transcreation adapts content from one language to another while maintaining the tone, intent, and style, often using entirely different forms. This approach is critical when companies sell products and services to foreign audiences or overseas customers, and the growth in transcreation usage increases the demand for translators who can effectively communicate this information. Not only is this topic prominent this year, but we can see it remaining popular for years to come as well.
3. Increased Demand for B2B Localization
In 2023, more B2B companies are trying to boost customer experience, which plays a major role in loyalty and retention. For global brands, this includes the need to adapt their business models and marketing to appeal to other companies around the globe.
Customization like this includes many elements, including catering language to the targeted demographic and respecting cultural intricacies. This creates a need for skilled translators who have an interest in business or a specific industry that the company resides in.
4. Increased Demand for Audio and Video Translation
As audio content has gained popularity, the need to translate the content to reach global audiences has grown as well. Translation helps the information reach the largest audience, and can include work with podcasts, audiobooks, music, and more to ensure everyone can enjoy these forms of media.
The same goes for the video industry as well. Since large audiences are online consuming video content, services like dubbing and subtitling are becoming more popular. In order for brands and video companies to get the most out of their investment while reaching new audiences, they should consider investing in talented translators.
5. Increased Importance of Multilingual Customer Support
Customers want to see that businesses are able to support them in their native languages. Multilingual support expands the reach of products and allows communication between companies and people of various backgrounds. This can range from live chat and over-the-phone support to translated customer support materials and beyond.
What Does All This Technology Mean for Translators?
One concern recently has been the rise of AI, but translators are essential because machines and AI-generated content are unable to capture the nuances that come from each language’s grammatical rules, semantics, syntax, and cultural influences.
Additionally, according to Mordor Intelligence, North America has the largest market for translation and this is expected to grow due to the increased diversity throughout the nation.
As the population shifts, the need for effective language services increases, therefore increasing the need for qualified translators. In 2023, the market size for language services is expected to hit $72.22 billion. By 2028, the market size is expected to hit $98.11 billion, which is a CAGR of 6.32%.
Projections for the Industry
By 2032, the employment of translators and interpreters is expected to grow by 4%. This is because more businesses are projected to go global, which increases the need for translators across many industries.
The field of translation can expect to see around 7,200 openings for translators and interpreters each year for the decade, according to the U.S. Bureau of Labor Statistics. From this information, we can picture a lot of graduates entering the workplace with a degree that they are not only passionate about, but one that helps tie people together for the greater good.
Key Things to Take Away
The goals of translation have always remained the same: to ensure accuracy, precision, clarity, and localization. Even though there have been advancements made in artificial intelligence and machine translation, their results will still need to be reviewed and corrected by professional translators to ensure accuracy and precision.
As you navigate through the 2023 translation trends, keep in mind that this industry is the glue for global connectivity through language. Be sure to stay ahead on any new trends that emerge, as your role as a translator is going to shape the way we communicate in an increasingly interconnected world.
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Get involved with this growing industry so that you can take part in new trends and secure a career that feeds your passions. Start by earning your M.A. in Translation from Kent State to further set yourself apart from other job candidates and continue strengthening your translation skills!
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