If the great financial crisis taught us anything it is that there are very few industries that can be considered ‘recession proof’. But in a global market, one that weathered the storms better than others is translation services.
Reports show that the industry of translation and interpretation services has grown on average by 12 per cent each year since 2008 and with the increase of cross-border trade and business, a recent study projected a large growth between 2010 and 2020, much larger than average business growth.
The number of jobs for translators and interpreters has also doubled in the past ten years while their wages steadily grew before, during and after the recession, despite many predicting that growing technology in machine translation would cut jobs in the industry.
Free web-based translation programs such as Google Translate have not dented the market for translation services. “Machine translation can quickly summarise large paragraphs of text and it’s free, but humans will always be needed to proofread the results, at least for the foreseeable future. Even Google doesn’t use Google Translate for their business documents”, explains Kathryn Birch, founder and managing director of award winning language service, Translive Global.
Translators and interpreters should welcome new technology, says Kathryn: “Web content is booming and due to the expansion of globalisation, the industry may actually face a shortage of qualified human translators soon. Technology is part of the solution – that’s why I created Translive Global.” Technology-savvy translation companies are growing at much faster rates than those companies that are cautious when it comes to embracing technology, her research shows.
Translive Global is a highly automated website that puts expert translators around the globe in touch with those needing translation services. The website produces algorithm-based quotes to give users an upfront idea commitment to cost which means both parties know what they’re agreeing to. They also provide interpretation and transcription services. All interpreters are available via video link through the website, making it faster and easier than ever before.
Adopting technology won’t really help in the absence of fluency and experience. Individuals must not only speak and think in two languages fluently to be translators and interpreters, they must also translate meaning from one language and culture to another without inflicting harm in the process. The most successful translators and interpreters are those who are highly educated. Many hold advanced degrees have excellent training and a solid background in translation, or a specialty field they intend to concentrate on in their work.
Translive Global not only provides the customer with a speedy yet simple online service, the client can also pick the translator or interpreter of their choice by viewing their profile as well as what each one charges before submitting the work.
The estimated value of the language-service industry worldwide this year will be about £22.4 billion, according to Common Sense Advisory, a market research firm in Boston.
The Internet economy is raising the need for expertly translated and localised information that speaks to all demographics and cultures clearly and conveniently. So it’s only logical that Translive Global provides this for clients by using a mix of technology and human expertise that allows for the best of both worlds to re-vitalise an age-old industry.
(The London Economic)