A lot has been said and written about the importance of translation in today’s insanely connected world. But not everyone is quite positive the translation industry is the inapt form to maximize on the grandiose opportunities of the globalization boom. The naysayers bemoan sluggish digitization trends in the translation industry and believe the industry isn’t progressing fast enough to pace with the current digital revolution. But those of us with a more positive outlook see the industry is in constant change and believe that translation service providers will eventually make the best use of the growth in the global economy. We shall take a look at some of the reasons why we think the translation industry will continue to flourish.
The growth of Translation Services
The growth of international business goes hand in hand with the growth of translation services. The following are the top reasons why the translation industry is so important today:-
- – Increased focus on emerging markets following the stagnation of growth in developed economies
- – Exponential growth in digital content at a time of increased global connectivity
- – The trend of increased litigation of global brands across different nations
- – The rise in the middle-class who require frequent travel and exposure to foreign markets
Focus on Emerging Markets
According to Forbes, about 70% of the world growth in the coming few years will come from emerging markets. Emerging markets include Brazil, China, India, Russia, Turkey, Indonesia, South Africa, Saudi Arabia and Mexico, just to mention a few. Most of these markets have huge populations who converse in hundreds of languages. The stagnant economic growth in the developed world will spur the focus of global businesses to invest fiercely in emerging economies. The demand for translation services will, therefore, be at an all-time high, especially as many multinational companies continue with their global expansion strategies.
Exponential Growth in Digital Content
The work of translation agencies is growing every day, thanks to the growth in Internet content. Heaps of articles, newscasts, social media posts, videos and other content are being uploaded to the Internet every second. With the increased global connectivity, more and more people have access to data and information from every corner of the world. Since most of the Internet content is in a foreign language to every user, there is a constant need for efficient and accurate translation services. So, the capacity of existing translation agencies will remain stretched with the ever-increasing supply of content that requires translation.
Increased Litigation of Global Brands across Different Nations
The world has become a global village thanks to the Internet. Social networking is now the norm in most countries across the world. It now takes only seconds for a global brand to be faced with multi-million dollar suits given the nature of social networks. Multinational companies and those companies seeking to expand abroad need to invest heavily in translation and localization services so as not to offend anyone or to flaunt local rules and regulations as they try to promote their products and services. Companies need now more than ever to engage the services of competent translation agencies.
The rise in the Middle Class
The size of the global middle class is on an upward trajectory. The middle class comprises individuals with appetites for international travel and consumption of foreign brands. The middle class directly contribute to the rise in the translation industry when they start their own firms abroad and hire translators and when they travel abroad and engage the services of translators. Indirectly, the middle-class demand luxury goods most of which are global. The middle class often hire the services of freelance translators. The global brands in trying to appeal to them need to invest in appropriate localization by seeking the services of competent translation agencies.
Contentech is a trusted content localization partner to many global brands such as IBM, Siemens, Canon, Opel, Nokia and NCR. It offers translation services in Arabic, Hebrew, Urdu, Dari, Farsi, Turkish and Kurdish. Its team of in-house native translators has specialized in serving companies in various industries such as Finance, Software, Governmental, Medical, Oil & Gas and much more. Contentech also employs cutting edge technological tools such as Fortis, Helium, and SDLX to consistently delivery translation and localization services to its clients. To get a quote from Contentech, give them a call on + 202 3762-5037 or drop them an email at:info@contentech.com
