Worldwide Translation Market to Reach $37 Billion by 2018

According to a recent report from Global Industry Analysts, the worldwide market for translation software and services will reach $37 billion in the next five years, up nearly $5 billion from where it is today. This upward trend in demand for translation will require a retinue of newly trained workers.

That’s not to say the business language translation market isn’t running strong today; it certainly is! Fortunately, for every language translation company, translation was one of few industries to avoid a negative impact during the Great Recession. The need to communicate with business partners within other cultures remains constant. If you’re looking to retool your educational background for a fulfilling job in a high-demand industry, we recommend business language translation.

Here are a few more reasons why translation is and will continue to be in high demand in the United States:

Sizeable immigrant population. Shifting one’s life from one culture to another involves plenty of paperwork – almost all of which must be translated. In order to set up new lives in the United States, immigrants must have everything from wedding and death certificates to high school diplomas translated.

Diverse local communities. Rather than a melting pot, some have argued that the United States is a salad bowl, where different ingredients mingle but do not meld together. In this model, multiple proud languages and cultures intertwine like threads in a tapestry – and wherever two strands cross, translation services are usually needed.

Two of the most common arenas for translation are the healthcare and legal systems. In order to provide high-quality legal representation and health care, administrators must arrange for business translation services. A representative from a language translation company can ensure a defendant’s story is accurately conveyed to the jury. Or a translator can help doctors and nurses understand a patient’s symptoms. This work is important and meaningful.

Increased American exports to S. America, Canada and Europe. Another factor in the demand for translation, according to Global Industry Analysts, is an uptick in the amount of American-made goods sold in foreign markets.

High-quality translators have been valued throughout history for their ability to facilitate cross-cultural business relationships. Today, the United States has the largest market for business translation services on earth; as we’ve seen, that’s not going to change any time soon. The bottom line for young people and those who are going back to school is this: If you study hard and excel, the business translation field will almost certainly have a position waiting for you when you graduate – a precious thing these days, as any recent college graduate can attest.

Leave a Reply

You must be logged in to post a comment.