Interpretation and translation services are needed in virtually all subject areas. In relation to translation, much research has been focused on getting the most out of machine translation, and ensuring that human translators and technology work as effectively as possible together. 1. Over the past ten years, there has been a steady growth of the Translation and Interpreting industry in the U.S., and this growing trend will continue, at least, within the next ten years. 1. This process is called post-editing. The ' Translation Software market' study now available with Market Study Report, LLC, is a systematic detailing of the potential factors driving the revenue statistics of this industry. Industry market research reports, statistics, analysis, data, trends and forecasts. Machine translation and post-editing Machine translation … Machine Translation (MT) Market 2020 Global Industry Trends, Statistics, Size, Share, Regional Analysis by Key Players |Applications and End … Most people who have never worked in the translation industry have a hard time understanding why translations that seem similar on the surface have different prices. This includes Portsmouth University’s recent report: When Translation Meets Technologies: Language service providers in the digital age . The number of people employed in the industry increased by 32% over the same period. Although most interpreters and translators specialize in a particular field or industry, many have more than one area of specialization. The Bureau of Labor Statistics projects a 17% employment growth for interpreters and translators by 2026 due to this need for businesses to go global. There are many factors that influence translation costs: language combination, timeframe, topic, volume, quality assurance, layout formatting, etc. A career in interpretation and translation is a bright future these days, thanks to the growth of globalized businesses and increased worldwide travel. This is much faster than the average growth rate for all occupations, and the industry is on track … The Translation and Interpreting Industry Will Continue to Grow. Translators also edit materials translated by computers, or machine translation. These are exciting times for the translation industry, promising many perks for those of its participants who know where to look. Machine Translation Market size valued at USD 550 million in 2019 and is set to grow at 17% CAGR from 2020 to 2026.A steady rise in the number of students undertaking higher education courses abroad will surge the industry demand for machine translation systems for real-time language conversion. The Future of the Interpretation & Translation Industry. The ' Translation Tools market' study now available with Market Study Report, LLC, is a systematic detailing of the potential factors driving the revenue statistics of this industry Translation Tools Market Size, Share, Statistics, Trends, Types, Applications, Analysis and Forecast, Global Industry Research 2025 By Market Study Report Date: 2020 … According to latest available data by private sector statistics provider Statista, revenues for the German translation and interpretation industry are set to hit about EUR 1bn in 2016. So whether you are a freelance translator, a language service provider, or a translation agency, knowing what’s up and coming in 2019 will allow you to stay on top of the g ame this year. Key data documented in the study includes market share, market size, application spectrum, market trends, supply chain, and revenue graph. Industry Trends. 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