Доклад: Significance of translation in contemporary life

Key market drivers

Several factors have contributed to an increased growth in demand for translation services in recent years:

· Use of greater number of complex products, leading to increased requirement of documentation.

· Globalization of markets and International trade and finance have led to increased demand of product literature and other documents in several languages.

· There is growth in the interpretation market with increased travel, in the form of business trips, conferences, tourism.

· Mobility of people, thereby leading to growth in demand for translation and interpretation.

· The expansion of new technologies, processes, applications affecting terminology.

· Desire to cater to larger markets results in the need for multiple language product versions simultaneously.

· Growing of new platforms and media for communicating and publishing information.

· Changing styles of product distribution and channels.

· Increased presence of software in several products and information environments.

· Growth in the importance of the language element in products and product documentation.

· Growth in the number of languages which must be handled in international business operations.

The top 10 globalising sectors

· Aerospace

· Automotive

· Business Services

· Engineering & Electronics

· Financial Services

· ICT equipment

· Pharmaceuticals

· Printing & Publishing

· Software Publishing

· Trans-national Organizations

3. Translation Services Market

From government to business to industries, translation service companies are in great demand as effective communications with partners, employees, officials, customers in the language of your target market becomes a necessity. As such it is seen today that inspite of the fact that the translation industry is not an organized industry, with a very low number of professional translators, the translation service market is growing. The American Translation Association (ATA), which was formed solely to help in the growth of translation and interpreting professions, says membership has doubled in the past 10 years to 10,000 because of the growing demand for language translations and translation market.

Translation demand for few languages

Some languages which were in great demand for translation in 1991 (the trend which is continuing even today) is shown below:

As seen above English dominates the market.