It’s been quite a year at Lingo24, and we’re very excited about what 2015 has to offer. With lots of fantastic projects to work on, growing teams in all our offices, and a new website on its way too, we think it’s going to be a cracker. But what of our industry – what can we expect from the year to come? Here’s what we foresee for the translation and localisation market in 2015.
Greater adoption of Machine Translation
Skype recently launched a speech translation feature which got a lot of publicity and Google has also recently invested heavily in its machine translation product, and these are just the headliners. With our own developments in the MT services we provide and increasing client demand for it, we can foresee a much more integration of MT into consumer products, websites and other online tools. The growing availability of MT will mean more Language Service Providers (LSPs) will use it as a way to break in to new markets, while translation services will become more accessible to businesses looking to expand internationally.
Translation by proxy
Following on from this, the notion of instant rendering of a translation online is also becoming more popular, as technology catches up with the business case and need for it. We’re finalising our proxy solution currently, and we know other LSPs out there are having some success with similar product offerings. It makes sense from a cost/demand perspective, so it’s easy to see why the demand has come about. The key is making sure the technology is there to support it, so we’re taking our time to make sure we get it spot on.
The rise of the sole LSP?
Some huge multinationals now use just one LSP for their translation requirements, but is that signalling the start of a new trend? Latest research from Common Sense Advisory shows some of the key characteristics of companies that have opted to use just one supplier, but a large majority of businesses don’t fit these criteria and prefer to use smaller LSPs and/or a much bigger roster of suppliers. One can argue the benefits either way. It will certainly be interesting to see if the characteristics identified in the report also apply to other companies that may choose to go down the sole LSP route, or indeed, whether any businesses currently using one LSP revert back to a larger supplier base over the course of the year. We’ll be keeping an eye on it.
Bigger and better
Many industry commentators agree that the health of the translation and localisation market is a strong indicator of the performance of the global economy – the more businesses use translation and localisation services, the better they trade and increase profitability. Again, Common Sense Advisory predicts growth of translation and localisation market this year to be over 6%, and the World Bank and Goldman Sachs predict global economy growth at 3-3.5%. While possibly quite a tenuous correlation, we are seeing nothing but opportunities in our sector for 2015, so we expect a healthy year of trading.
*Photo credits: Ivelin Radkov / Shutterstock.com