The Review of Translation Industry in 2024 and 2025 Predictions
By: Eric Nelson Posted on 4 days ago
By: Eric Nelson Posted on 4 days ago
The translation industry has seen drastic growth in 2024. Driven by technological advancements, globalization, and an ever-increasing need for multilingual communication, translation has become the cornerstone of every industry.
As we are stepping into 2025, most of us are concerned and eager to know what to expect next. One thing is clear: translation has promising prospects. So, whether you seek a statistical overview of the translation industry's growth in 2024 or insights to develop trust, this blog post is for you. Today, we will review the concluding year and discuss what we can expect in the following year.
Below we will have a deep insight into the statistical facts and figures proving that 2024 was a successful year for the translation sector. So, let’s begin.
The global translation services market has grown dramatically during the preceding year. According to the statistics, the industry's value in 2023 was $40.95 billion, increased to $41.78 billion in 2024, and is expected to reach $49.02 billion by 2032 at a 2.02% CAGR.
These statistics show the critical role of translation services in an increasingly interconnected world. Let’s examine the key drivers behind this expansion:
Businesses are now expanding their reach to newer markets. To tap into the new customer bases and succeed globally, they must overcome language barriers. This can happen by effectively communicating and providing localized content that resonates culturally with target audiences. It includes adapting websites, software, product descriptions, customer support, and advertisements. Â
They are meant to fit with the linguistic and cultural nuances of the target regions. Multinational companies are collaborating with professional language services providers (LSP) to overcome language barriers. 75% of consumers prefer products available in their native language, according to the poll conducted by Common Sense Advisory. Hence, acquiring translation services while globalizing is imperative for businesses to develop and maintain customers’ trust in the international market.
The global expansion of e-commerce, particularly in emerging nations, raises the demand for locally produced goods and services. Translating their content enables online businesses to improve user engagement and experiences by offering tailored purchasing interfaces, user feedback, and product descriptions in native languages. Â
According to a survey, 60% of consumers never purchase from English-only websites. While operating in the global retail market, your website should at least speak the major languages, including Spanish, Korean, Chinese, Japanese, French, German, and Russian.
The most prominent examples are Alibaba and Amazon. Operating in one region, they are connected to a global customer base by emphasizing translation. Clear and accurate translation helps reduce misunderstandings and boost sales conversions. As the global e-commerce competition intensifies, translation proves a gateway for online retailers.
Every industry has unique terminology that requires precise translation into multiple languages. The most prominent industries that are rapidly growing across borders and demanding translation are healthcare, pharmaceuticals, social networking, IT, and software. Accurate and culturally sensitive translations help to efficiently meet diverse industry-specific standards and ensure accuracy. Â
The recent additions in the translation industry, such as neural machine translation and automation tools, have revolutionized the way languages are translated. Let’s take a closer look at them:
The debate on human vs. machine translation is over because both are working in collaboration now. Being constantly refined, the NMT models are improved significantly and can capture nuances, idioms, and cultural references.
Neural machine translation has seen a significant rise in 2024. You may be startled to learn these statistics. According to the PR Newswire report, the value of the global neural machine translation market was $464.07 million in 2023, which is expected to reach $1,019.62 million in 2030 with a CAGR of 11.77%. Over 70% of independent language service providers in Europe use MT to some extent, and 39% of marketers incorporate MT into their localization strategies.
Real-time translation is the basic need for global, international meetings, and travel. It breaks down language barriers, allowing you to deliver your message appropriately to the audience. Seamless communication across borders has become a reality, all thanks to advanced translation tools.
The availability of wearable translation devices and mobile apps enables users to engage in multilingual conversations.
This is a hybrid model in which machine translation tools handle the bulk of initial translations and professional translators are critical in refining the output through post-editing. This combination is very beneficial, especially in this interconnected world where multilingual communication becomes more relevant.
According to a report by Globe News Wire, translators are utilizing translation software and tools to enhance their output by almost 30%.
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"AI revolutionizes translation, but the true impact comes from human experts who bring cultural nuance and industry insight. At MarsTranslation, we merge AI efficiency with human precision to deliver translations that truly connect."Â said Mr. Tahir, Director of Research and Development at MarsTranslation.
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The translation is a never-ending story. With every passing day this industry is growing faster as a result of initiatives and rising demand. The following are the recent translation trends:
Did you know that there is a whole subject named translation studies that has been taught in universities around the world? That’s probably because of the high potential need and requirement for translation in the future.
Institutes are increasingly investing in translation studies programs to cater to the demand for skilled and professional translators. And for that, they are conducting translation marathons and practical workshops so that students get hands-on experience right away.
This is an advanced level of translation. It is a mixture of translation and creativity, as the name suggests. Transcreation ensures that the marketing messages resonate culturally with target audiences. It includes adapting your brand slogans and taglines to reflect local customs and idiomatic expressions.
What else is trending? The rise of the concept of e-learning also gives a boost to localization, a step ahead of translation. As the world is going online for learning purposes, it creates a demand for multilingual and culturally appropriate educational content. Regardless of the language and region of the published content, it is now available for everyone, anywhere in the world.
Translation is the key to enhancing the impact of your images and visual content on social media and other platforms. It is reported that content that sounds and looks local increases engagement by up to 2500%. New businesses are gaining popularity among international audiences in no time, investing in localized, video-based digital marketing.
Translation makes content accessible to all. Sign language translation, audio description for visually impaired individuals, and translations for neurodiverse individuals ensure that everyone gets equal access to the information and enjoys it.
Do you really think translation is an easy subject? No, it’s not. Even after all the advancements, a few issues still stand in the way of translators, which include:
Data security has always been the main concern of customers and a challenge for translation companies. Well, a prominent decrease can be in claims due to the steps taken by translators.
MarsTranslation, a translation services company, ensures transparency in the process and signs NDA (non-disclosure agreement) for every project. This boosts customer trust and gives them a relief that their confidential data is in secure hands.
Reliance only on AI or machine translation tools was or is not a good choice. This compromises the quality and leads to culturally insensitive and offensive translations.
Though these tools have an important role in the language services industry, relying completely on them will be a mistake. Overcoming this challenge requires active human oversight to ensure inclusivity and fairness.
The increasing demand for AI for basic translation has sparked a debate about the importance of human translators. While professional translators demand fair compensation based on their expertise in cultural nuances and specialized fields, automation lowers costs for clients.
Balancing efficiency gains with equitable pay for human contributors is the suggested way to overcome this challenge.
Looking at the statistics and current value of the translation industry, we expect a lot to be coming up in the next year, 2025. Let’s take an overview of expected achievements and challenges:
More businesses are now expanding their reach to global markets than ever before. However, ensuring success in newer markets demands clear and effective communication with the audiences. This brings in the need for linguistically accurate and culturally appropriate translation of documents, websites, software, and marketing materials.
As businesses are now exploring untapped regions or emerging markets such as Asia and Africa, translation will help them deal with diverse linguistic and cultural nuances.
As AI is getting more intelligent day after day, its use in the translation industry is expected to grow more. Translators have started utilizing AI-based tools; they can now enhance their capacity to deliver precise results in a short period. And if we talk about AI replacing human translators, that’s just a misconception.
Nothing is going to happen like that because AI or machine translation cannot handle contextual and cultural nuances like professionals can. So, human expertise will always be needed to ensure excellence.
Almost every industry is now working on a global level, which increases the demand for niche specialists. Translators are now becoming domain-specific and boosting their skills, gaining expertise in industry-specific terminology and regulations.
Advancements in the translation industry have made it much easier for customers to acquire the translation they need quickly. They can ensure effective real-time communication with multilingual audiences by using translation apps or devices. In the coming year, we can expect more accurate translation results on apps and devices.
Moreover, translation companies are integrating advanced tools into everyday workflows that will make sure that clients get fast and high-quality translations as standard.
Translation agencies will adopt sustainable approaches, providing customers options for receiving translations, such as cloud sharing or document form. Also, they are prioritizing ethical AI development in their systems, which means that only authorized individuals will have access to your data.
We are not sure whether the future of the translation industry will be completely free from problems or issues. Some of the key challenges that might come ahead are:
Machine or automated translation tools are fast and efficient in handling lengthy documents but are unable to handle cultural nuances and contextual understanding and lack creativity.
Human translators, on the other hand, are experts in handling industry-specific terminology and nuances but are slower compared to Machine Translation. However, striking the balance is crucial for refined, contextually adapted, and culturally resonant translations.
As we are expecting more refined translation tools in the coming year, translators need to upgrade their skills by staying updated about the new platforms, tools, and workflows. Continuous learning is critical for every translator to maintain competitiveness in the industry.
Businesses are now tapping into emerging regions and catering to underserved languages. This makes translation challenging because finding translators with native expertise in regional and minority languages is quite a task.
However, as translation is introduced as a subject in universities globally, this issue is expected to be resolved in the following year.
Automation has raised concerns about fair wages for human translators because the cost of machine translation is very low compared to professional translations. Meeting client demands for cost-effective translations while ensuring fair compensation of translators is making things complex.
The translation industry in 2024 is at a crossroads between innovation and tradition. AI is transforming workflows and adding options, so the future seems exciting. However, maintaining quality, cultural sensitivity, and ethical standards will remain critical.
As 2025 is here, the focus will shift to achieving an equitable balance of technology and human skills, assuring the industry's continued success in an increasingly connected world. Translators and organizations can position themselves for success in this dynamic and ever-changing field by staying up to date on trends and adapting to new requirements.
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