Translation Industry Comparison: UK, USA, Australia & Canada
Posted on March 16th, 2015 in Translation
For decades now, Europe and North America have been the dominant forces in the translation service industry. But with the enormous growth rate of Asian companies that have been out-pacing the world marketplace, language translation companies have been scrambling to bridge the gap between the East and West by providing companies with an important and integral part of a successful global business relationship – accurate worldwide communication!
Europe’s translation market has been steadily growing in the E.U., which was once exclusively pertained to French, Italian, German, and Spanish speaking regional translators. With the creation of the European Union, Europe’s bureaucracies must now communicate in over 23 different languages in order to facilitate their governmental duties. For this reason, the need for consistent translation services has grown exponentially across the E.U.
The U.S. translation industry brought in over $5 billion dollars in 2014, up from $4 billion in 2013, taking control of its share in a $40 billion dollar global industry. The language translation business is projected to grow to $10 billion plus in the United States by 2020. Language translation is used in the United States in a number of different ways; translation services are used as a vital tool in U.S. commerce, and also for mining data in different languages for major marketing campaigns in big businesses, where companies sift through, and buy and sell user information collected from social media channels worldwide.
Australia has been clamoring to keep up with demand for translation services, due to the high influx of foreign refugees who have fled in the last decade from the volatile and war torn Middle East or African nations, for the relative safety and sanctuary of Australia’s shores.
In Australia, interpreters who have English and Chinese language skills are in especially high demand. These are of great use to the country’s governmental agencies and departments, such as customs, immigration, their legal and health systems, welfare, and other community-based outfits; on the coast or in the outback.
Canada has a diverse set of cultures, which historically has been using English and French as their two main primary languages. Canada brings in approximately 10% of the global multi-billion dollar translation industry, even though the country only holds 0.5% of the world’s population. Canada, still holding on tight to its “official” languages, has approximately 90% of its translation done from (and to) French and English.
North American translating services are projected to grow over 40% by the year 2020. China is also quickly moving into the global business spotlight in the new millennium; Chinese to English interpreters are in very high demand in Canada, showing how more advanced technology, and better economics in the Asian country has shifted the translation market to face towards the East.
While smartphones now come equipped with applications that can translate several different languages, they cannot compete with a human interpreter’s intellect, their understanding of cultural differences, and abilities to adapt to abstract cultural references. Let Translation Central provide you with the best translation services in the business – Contact Us to get started today!