Localization and translation industry market trends for 2023
With each new year, our world becomes more digital, and this is something which can also be seen and felt in the world of translation and localization. In this article, we will look at some translation industry trends that we can expect to see in 2023.
Machine translation and post-editing
According to market research specialists Mordor Intelligence, machine translation is becoming more and more a part of the translation industry, and this trend is set to continue in 2023, with Lionbridge already having established itself as one of the major players in this field. Instead of handing over content to a professional human translator who will perform a standard translation, . Machine translation and post-editing can be much more cost-effective than hiring a language professional from the start.
If you are thinking about developing knowledge in the subject of MT, you should not miss this event: Machine Translation Summit 2023.
Transcreation and translation as a way to build global brand awareness
For several years, creating personalized user experiences has been one of the biggest trends to emerge across a wide range of industries. Transcreation, a word that springs from the combination of "translation" and "creation", is one of the many shapes this idea takes in the translation industry. Transcreation and translation enable companies to localize content for new audiences, as well as helping companies align their ideas with the point of view of other cultures to better engage their target consumers.
Growing demand for translation services
U.S. News and World Report ranked interpreters and translators as number one on their list of the top creative and media professions in 2020. This is no surprise: in fact, the US Bureau of Labor Statistics predicts a 20% increase in the employment of interpreters and translators between 2019 and 2029. This is much faster than the average for all occupations.
Development of international SEO strategies
Companies looking to expand their international online presence are constantly looking for multilingual SEO experts, since multilingual SEO is both a scalable and a profitable tactic. Neil Patel explains, "." This means that a multilingual SEO strategy can bring positive results in the long run. Multilingual or International SEO refers to the practice of optimizing content for SEO across multiple languages, including website, e-commerce, or video content. Multilingual SEO aims to increase organic search results for content in a specific language.
Remote and online working
Online communication is already becoming more widespread among linguists providing services from different geographical areas. The accelerated functioning of data transfer as well as work tools have developed greatly over the last few years, enabling translators to translate in real time as well.
In many global organizations, despite the possibility of returning to an office-based environment many employees are still choosing remote work, which can allow for the possibility of travelling and changing one’s place of residence at the same time as working remotely to earn money. An example of this is a Meta employee who was able to take advantage of the opportunity to work remotely and decided to rent an apartment on a cruise ship for 12 years. As he claims, he was tempted by the opportunity to see the world while maintaining the some semblance of an ordinary routine.
Artificial Intelligence
For many years, the translation community has been daunted by the artificial intelligence revolution and the specter of this completely replacing human translators’ work in the future. Yet amidst all the talk of a surplus of machines over humans, we should be mindful of the power of the human brain and remember that machines in their current stage of development are still far from perfect. An example of this is that machine translation platforms are still not always able to work effectively with complex documents or texts and may still struggle with local and colloquial words. In this case, human help becomes a necessary part of maintaining the high quality of the translation work.
Despite all of this, 2023 looks set to be another year of development of hybrid translation platforms and of emerging new quantum computers generating changes in our everyday lives. Let's take a deep breath and remember that human knowledge and consistency are the prototype for machines, not the other way around, and let’s look to the future with optimism and learn to use current progress to facilitate our daily work. If you are an AI fan as well as a translator, you can find more about more about AI trends for 2023 here.
We hope to have sparked your curiosity in information about new trends!
On this same topic, if any of you would like to contact us and share interesting content regarding translation industry updates, please email xxcxcc@lionbridge.com with the subject line: Translation industry updates
Sources
Forbes – AI Trends For 2023
Forbes – E Learning Climbing To $325 Billion By 2025
Mordor Intelligence – Machine Translation Market – Growth, Trends, Covid-19 Impact and Forecasts (2023-2028)
MTS – Machine Translation Summit 2023
Neil Patel – The Most Vital SEO Strategy I Learned
Pepper Content – New Trends in Translation 2022-2023
Translation Partner – How To Conduct An International SEO Strategy In 2022
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