Localization Trends of 2015
With every new year comes new or increased trends in the translation industry.Â Social Media Today suggests that due to a â€œrenewed focus on content strategy and the dominance of social mediaâ€, localization in 2015 will be even more important for brands trying to reach a wider social audience. Based on research, the use of a single-sourced translation model, an increase in the need for interpreters and a continued increase in the need for localization for gas and oil corporations will be the in the forefront of the localization industry this year.
According to a recent study by market research firm Common Sense Advisory, 15 percent of companies studied chose a single-source solution for their translation and localization needs. This has been a major shift because most companies work with multiple vendors for their translation and localization needs. According to research, single-sourced translations are chosen by companies who are experienced buyers of language services (instead of those companies who are new to localization) and require a vendor who can handle large volumes and round the clock service.Â One of the other significant benefits of single-sourcing is less project management time on projects. As the Common Sense Advisory report suggests, managing multiple vendors involves a lot of time and investment in internal staff which is opposite the goal of most corporations to reduce the cost of â€œinfrastructure and personnelâ€.Â Thus, the trend is toward â€œprogram-based localizationâ€ and not â€œproject-based localizationâ€.
Increase in interpretation
Often an overlooked part of the language industry, interpreting allows therapists, hospitals, courts, and businesses to communicate with people on a daily basis.Â Findings in a recent Common Sense Advisory report show that the demand for interpretation is steadily rising. Â While the need for Spanish and Chinese interpreting is most prevalent, research shows that 66% of respondents confirmed that the demand for interpreting service is growing.Â In-person interpreting generates the most revenue as opposed to â€œover the phoneâ€ interpreting.Â The Common Sense Advisory reports also suggests that those who require interpreting services â€œtap into a broader supply chainâ€ for their needs than those who only require translation services.Â 75% of those who responded to the study have both freelancers (72%) and in-house interpreters (74%). working for them.
Increase in localization for oil and gas companies
According to the Global Oil & Gas Market Assessment, the oil and gas industry will reach a $4 trillion market by the year 2018.Â Because the oil and gas companies continue to grow, the need for translation of ever-changing regulatory and safety documentation will increase as well. In 2014, the Common Sense Advisory published a report that more than 1.34 billion dollars was spent on localization in this industry.
While these are just a few of the localization trends for 2015, it is quite obvious that as brands want to go international and as social media continues to dominate, the localization industry will continue to grow and remain strong.