The translation industry is booming and has been faring comparably well during the pandemic. Better still – industry sources suggest that 2021 is looking even more promising for the field. We look at the three core trends behind this growth.
The omnipresent topics of general localisation, transcreation and artificial intelligence, or machine translation, will naturally also be big players in the coming year, but these three areas will be worth keeping an eye on – for in-house marketing executives and language professionals alike.
According to the latest forecasts, the rapidly growing economies of developing nations are likely to account for around 60% of the world GDP by 2030. While translation services in Latin American countries will be easy enough to provide, as professional language services for Spanish and Portuguese are widely accessible, communication in some African and Asian countries where multilingualism is common will be far more challenging. An example: in India alone, over 19,500 languages and dialects are spoken. Businesses who seek to enter these emerging, multilingual markets must get the professional help of translation agencies to tackle this huge task.
Video localisation and subtitling
Video content is vital for a multitude of sectors, and statistics show that 83% of marketers believe that video is growing in importance. By 2021, according to Cisco, 80% of the world’s internet traffic will be video, doubtlessly making it one of the most important tools of today’s marketing agencies. That’s why more and more translation and transcreation agencies are focusing on video localisation, subtitling and translation services to help their clients reach international audiences in a targeted and effective way.
What became the norm during lockdown might stay relevant also in the future, not least with regards to e-learning and webinars. According to Forbes, the e-learning sector will be worth a whopping $355 billion in 2025, and considering the fact that most e-learning tools are currently offered primarily in English, there is huge potential for growth in demand for translators and transcreators that are also well-versed in video-editing software and similar.