The world is an incredibly diverse place with a vast array of cultures and languages. In fact, there are more than 7,100 languages spoken around the world, each with its unique history, grammar, vocabulary, and sounds. Language is not only a tool for communication but also a reflection of cultural identity and heritage. With such a diverse linguistic landscape, it’s no surprise that language services have become a critical aspect of modern business.
One interesting statistic is that 84% of marketers believe that translation services increase revenue. The ability to effectively communicate with a global audience is crucial for businesses that want to expand their reach and tap into new markets. By offering content and marketing material in multiple languages, businesses can connect with a wider audience and build trust with potential customers.
Moreover, localisation is also essential in today’s mobile world. Research shows that 86% of localised mobile ads perform better than their English counterparts. This is because people tend to respond more positively to content that is tailored to their specific cultural and linguistic background. Localisation is not just about translating words; it’s about adapting content to fit the local culture, customs, and norms.
Europe is the dominant player in the global language services industry, owning 49% of the market. And, the most used computer-assisted translation (CAT) tools include SDL Trados, Wordfast, and MemoQ, which help translators to work more efficiently and effectively within the continent.
Speaking of translators, there are around 640,000 of them worldwide, with women making up 61.6% of the total number of translators. Suggesting that the translation industry is one of the few fields where women are more prevalent than men.
When it comes to consumer behaviour, research shows that 76% of shoppers prefer products in their native language. This highlights the importance of localisation and translation for businesses that want to succeed in the global marketplace. By offering products and services in multiple languages, businesses can create a more inclusive and welcoming experience for customers.
Finally, in 2021 the global language service market was valued at €54.7 billion (converted from USD in April 2023,) which is a testament to the growing demand for translation and localisation services. With businesses expanding their reach into new markets and more people travelling and communicating across borders, the need for language services is only set to increase.
In conclusion, the world is a diverse and multilingual place, and language services have become an essential aspect of modern business. By leveraging the power of translation and localisation, businesses can connect with a wider audience, build trust with customers, and ultimately increase their revenue. With the global language service market continuing to grow, it’s clear that translation and localisation are here to stay.