As we come up to the end of Quarter 1 we thought it would be good to take a quick look back at our predictions for the year, and see if we’re still on track. Have you kept up with your resolutions, goals and targets so far? Time to see if the proof is in the pudding…
In January, we blogged about our four main predictions for our industry, including the rise in machine translation, increased adoption of proxy translation and growth in the market overall. So far, it looks like we’re proving ourselves right.
We thought it would become more prominent, and we’re not wrong. The findings of a recent study, published in Whatech this week, show how the machine translation market is predicted to grow at a CAGR of 23.53% during 2015-2019. The report covers the Global Machine Translation market landscape and its growth prospects over the coming years, and follows a robust methodology of how this figure was obtained.
In parallel to this, the likes of Google and Microsoft have been investing heavily in their own Machine Translation engines. Last week it was reported that Microsoft now supports 50 languages through their service, indicating the increased competitiveness of the sector.
Translation by proxy
Although still relatively new, there are now various savvy businesses out there using a proxy solution for translating their website for different markets. Yet the more that this area is explored, the more research is done on the most applicable uses of it – a proxy or “mirroring” translation won’t work for everyone.
The Next Web published a piece this week about its uses, and recommends it only for standard t8n (translation) or l10n (localisation) models, rather than anyone looking for a more creative approach to presenting their website to other cultures. It works best if you want to operate a hub-and-spoke content model, with all sites synced to your native language site at all times. However, at the moment there is still only a limited selection of translation providers (like us) that have the technology to deliver a translation proxy solution, although we predict more to latch on to this over the coming year.
Growth in the market
There aren’t many organisations that measure sector growth on a quarterly basis, but the more we look, the more support we find for our prediction. One report by IbisWorld states that healthy growth is still expected in our industry, at least until 2020. Being fairly recession proof industry, and with no research to the contrary, we’re confident in being in the right place at the right time.
We’re also celebrating today, having achieved our major Q1 milestones (hooray!), but we’re not resting on our laurels, and are setting even more ambitious goals for next quarter. We think constant evaluation and adjusting of how well we’re doing is really important to success. Somewhat ironically, this takes us back to Machine Translation. Our premium engines get better and better once their output is reviewed and small adjustments are made, and we’ll keep going until we’re better than the best. Back to work!
*Photo credits: Kzenon / Shutterstock.com
*Photo credits: iQoncept / Shutterstock.com