The Latest Translation Industry Statistics Explained
In 2021, the revenue of the global translation industry is projected to reach up to 56.18 billion U.S. dollars.
The statistic indicates that in 2021, the revenue generated by the global translation industry is estimated to reach $56.18 billion in the United States. This figure reflects the significant market size and growing demand for translation services across different sectors such as business, technology, healthcare, and media. The increasing globalization of businesses and communication, coupled with the rise of digital content and international trade, are key factors driving the growth of the translation industry. This projected revenue highlights the importance of language services in facilitating cross-border communication and enabling companies to reach diverse markets effectively.
In 2018, 42.9% of respondents globally claimed that translation was used by their department for internal documentation.
The statistic indicates that in 2018, 42.9% of respondents from various locations around the world reported using translation services for internal documentation within their department. This suggests that a significant portion of organizations recognized the importance of translating documents within their own teams for effective communication and understanding. The statistic highlights the widespread practice of utilizing translation services to bridge language barriers and ensure that internal information is communicated accurately and comprehensively across diverse teams and locations.
The top three industries utilizing translation services are manufacturing at 23%, business services at 19.6%, and IT services at 17%.
This statistic indicates the distribution of translation service usage across different industries, with manufacturing being the top user at 23%, followed by business services at 19.6%, and IT services at 17%. This suggests that there is a significant demand for translation services within these industries, likely driven by the need to communicate effectively with international clients, partners, or employees, as well as to reach global markets. The data highlights the importance of accurate and culturally sensitive translation services in facilitating business operations and expansion for companies operating in these sectors. Additionally, it may also reflect the growing trend of globalization and the increasing interconnectedness of businesses worldwide.
The European Union employs roughly 4,200 translators.
The statistic that the European Union employs roughly 4,200 translators indicates the significant scale and complexity of multilingual communication within the institutions of the EU. With 24 official languages across its member countries and a commitment to fostering linguistic diversity and inclusivity, the EU requires a large number of translators to ensure effective communication and understanding among its diverse stakeholders. These translators play a crucial role in facilitating the work of the EU by translating official documents, speeches, meetings, and other communications to bridge language barriers and enable effective decision-making and collaboration across linguistic boundaries. The statistic underscores the EU’s commitment to multilingualism and highlights the importance of language services in supporting the functioning of a multicultural and multinational institution.
China with 28.4% was the country with the most market revenue in the language services industry in 2018.
The statistic indicates that in 2018, China accounted for 28.4% of the total market revenue generated in the language services industry, making it the country with the highest market revenue globally. This suggests that China had a significant influence on the language services market and likely had a strong demand for translation, interpretation, and localization services. Factors such as a growing economy, globalization, and increasing international partnerships could have contributed to China’s dominance in the industry. This statistic highlights the importance of the Chinese market within the language services sector and underscores its potential for further growth and development in the future.
The US translation and localization industry is predicted to reach a total revenue of $5 billion by 2025.
The statistic indicates that the translation and localization industry in the United States is forecasted to experience significant growth, with total revenue expected to reach $5 billion by the year 2025. This prediction suggests that there is a growing demand for translation and localization services in the US market, driven by factors such as globalization, increased international trade, and the need for businesses to reach diverse audiences. The projected revenue figure highlights the industry’s potential for expansion and suggests positive prospects for companies operating within this sector. It also indicates opportunities for businesses and professionals working in translation, interpretation, and localization services to capitalize on this growing market demand.
There are an estimated 300,000 to 1 million professional translators worldwide.
The statistic that there are an estimated 300,000 to 1 million professional translators worldwide indicates the wide range in the number of individuals who work in the translation industry. This variability may stem from the diverse types of translators ranging from freelance translators to those working for translation agencies, as well as differences in methodologies for estimating translator populations across various regions. Additionally, the range suggests the growing demand for language services in an increasingly globalized world where businesses, organizations, and individuals require translation for communication across borders. Collectively, this statistic highlights the significant role that professional translators play in facilitating effective communication and fostering understanding among diverse linguistic communities worldwide.
Language services and technology represent a $49.60B global market in 2020.
The statistic that language services and technology represent a $49.60 billion global market in 2020 indicates the total value of the global industry that caters to translation, interpretation, localization, and other language-related services and technologies. This market encompasses a wide range of activities, including language translation services, language training programs, multilingual website localization, AI-powered language technologies, and more. The significant size of this market highlights the increasing importance of overcoming language barriers in a globalized world, driving the demand for language services and technologies across various sectors including business, government, healthcare, and education.
The top three most-translated languages are English, French, and German.
The statistic indicates that English, French, and German are the three most commonly translated languages in the world. This means that content in these languages is frequently translated into other languages for a global audience. The prominence of these languages in translation likely reflects their widespread use in international communication, business, academia, and cultural exchange. English is widely considered the global lingua franca, while French and German are also widely spoken and have significant cultural and economic influence. The high demand for translating content into these languages suggests a need for enhanced language accessibility and communication across different linguistic communities.
About 23% of the overall translation jobs in US are for Spanish in demand.
This statistic indicates that approximately 23% of all translation jobs in the United States are specifically for Spanish language services, highlighting a significant demand for translation services in Spanish. The high proportion of jobs allocated for Spanish suggests a strong need for language support in this particular language, likely due to the large Spanish-speaking population in the country and the necessity for communication across various industries. This statistic underscores the importance of bilingual skills, particularly in Spanish, in the translation industry within the US market.
In 2019, the fastest growing vertical was Life Sciences, which grew by 20.3% to 6.68 billion U.S. dollars.
In 2019, the fastest growing vertical was Life Sciences, with a remarkable growth rate of 20.3%. This means that the revenue generated by the Life Sciences sector increased by 20.3% compared to the previous year, reaching a total of 6.68 billion U.S. dollars. This statistic indicates a strong and rapid expansion within the Life Sciences industry, showcasing its growing significance and economic impact. The substantial growth rate underscores the industry’s potential for innovation and development, and signifies a positive outlook for the sector in terms of revenue generation and overall market growth in 2019.
Approximately 26% of translators work on technical materials most.
This statistic indicates that around 26% of translators specialize in working with technical materials more frequently than other types of content. This suggests that there is a distinct subset of translators who have expertise in translating technical jargon, industry-specific terminology, and complex subject matter. These translators likely possess specialized knowledge and skills that make them well-suited for handling technical content with accuracy and precision. The fact that a considerable percentage of translators focus on technical materials highlights the demand for high-quality translation services in fields such as engineering, science, technology, and other specialized industries.
The largest segment of machine translation market is ruled by statistical machine translation accounting for 60% portion of the market.
Statistical machine translation, which dominates 60% of the machine translation market, refers to a method that uses statistical models to learn the patterns and relationships between different languages from large amounts of data. This statistic indicates that statistical machine translation is the most commonly used approach in the market, highlighting its popularity and effectiveness in translating text from one language to another. With its majority share in the market, it suggests that organizations and users rely heavily on statistical machine translation for their language translation needs, showcasing its influence and success in the field of machine translation.
The global language services industry’s compound annual growth rate is expected to be about 6.5% from 2019 to 2021.
The statistic indicates that the global language services industry is projected to experience a compound annual growth rate of approximately 6.5% from 2019 to 2021. This means that the industry is expected to grow by an average of 6.5% per year over the specified time period. This growth rate suggests a positive trend in the demand for language services such as translation and interpretation services, driven by factors such as globalization, increased international trade, and the need for cross-cultural communication. The projected growth rate can serve as an important indicator for industry stakeholders, investors, and policymakers to track the industry’s performance and potential opportunities for expansion in the coming years.
The translation industry is expected to grow to $70 billion by 2023.
The statistic indicates that the translation industry is projected to experience significant growth in revenue, reaching a total value of $70 billion by the year 2023. This suggests a substantial increase in demand for translation services globally, likely driven by factors such as globalization, increased international business activities, and the need for multilingual communication in various industries. The growth forecast implies opportunities for translation service providers to expand their operations, innovate their offerings, and cater to a growing market of clients seeking professional translation solutions. It also highlights the importance of language services in facilitating cross-border communication and fostering international collaboration in an increasingly interconnected world.
In 2021, over 30% of companies are planning to adopt machine translation tech.
The statistic “In 2021, over 30% of companies are planning to adopt machine translation tech” indicates that a significant portion of businesses across various industries are intending to utilize machine translation technology within the year. This suggests a growing recognition among companies of the benefits and potential of machine translation in improving communication, facilitating cross-border collaborations, and enhancing global business operations. The statistic reflects a trend towards digital transformation and automation in response to increasingly interconnected global markets and the need for efficient communication in multiple languages. Companies that choose to adopt this technology may gain a competitive advantage in the market by streamlining workflows, reducing language barriers, and expanding their reach to international audiences.
The most searched for language pairs are from English to Spanish, French, and German.
The statement suggests that among all language pairs being searched for, translations from English into Spanish, French, and German are the most sought after. This information gives insight into the demand for translation services in these particular languages, indicating that individuals or organizations are frequently seeking to have English content or documents translated into Spanish, French, or German. This trend can have various implications, such as highlighting the importance of these languages in global communication, trade, or cultural exchange. It also suggests potential opportunities for language service providers specializing in these language pairs to cater to the high demand and possibly expand their services to meet the needs of customers seeking translations in these specific languages.
Over 80% of translators use CAT (Computer Assisted Translation) tools in their work.
The statistic that over 80% of translators use CAT (Computer Assisted Translation) tools in their work indicates a widespread adoption of technology within the translation industry. CAT tools are software applications designed to assist translators in their work by providing features such as translation memory, terminology management, and productivity enhancements. The high percentage of translators using CAT tools suggests that these technologies have become essential tools of the trade, enabling professionals to work more efficiently and accurately by leveraging the power of computing and automation in their translation tasks. This statistic highlights the importance of staying up-to-date with technological advancements in order to remain competitive and effective in the field of translation.
As of 2018, more than 2.72 billion words were translated each month through the Google translate app.
The statistic provided states that in 2018, over 2.72 billion words were translated every month using the Google Translate app. This figure indicates the massive scale and global impact of the app, showcasing the widespread usage and reliance on technology for translation needs. The high number of translated words highlights the efficiency and accessibility of Google Translate in breaking down language barriers and facilitating communication across different languages and cultures. It also signifies the increasing demand for translation services in our increasingly interconnected world, where communication and understanding between individuals of varying linguistic backgrounds are essential.
References
0. – https://www.www.mordorintelligence.com
1. – https://www.translationtribulations.com
2. – https://www.ec.europa.eu
3. – https://www.www.translations.com
4. – https://www.www.commonplaces.com
5. – https://www.marketingfacts.nl
6. – https://www.www.csoftintl.com
7. – https://www.www.locnapps.com
8. – https://www.www.memsource.com
9. – https://www.www.gala-global.org
10. – https://www.www.proz.com
11. – https://www.www.statista.com
12. – https://www.www.gts-translation.com
13. – https://www.www.globenewswire.com
14. – https://www.www.slideshare.net
15. – https://www.www.nimdzi.com
