When considering the global community and thousands of different languages are used throughout the world, we often forget the importance of translation services to facilitate understanding and communication. The language service industry is not a high profile industry. It secretly acts in the background for all other local and global industries that use their services.
However, this industry is actually a big, estimated to be worth around $ 33 billion per year, with most of the income from Europe, North America and other parts of the world. By itself, the annual growth is 12 percent, while work growth has been in high 40 percent. So which industry requires the most translation service? See the top 5 below:
Information and communication technology
Information and communication technology is one of the backbones of international trade. This industrial sector is regularly involved in various projects globally. The ICT industry requires several technical documents that are translated into various languages to meet global customers. Technical documents require lesson material (SMEs), because technical information has its own set of jargon and terminology.
The legal sector is a heavy translation service user. Whether you’re doing business globally or locally, if you deal with an international audience, you must have proposals and contracts written in languages that can be understood by other parties.
The legal industry is not only about proposals and contracts. It is also related to civil cases and courts and other legal issues that must be understood explicitly by all parties involved.
Translation service providers must ensure the accuracy of legal translation, even the smallest errors can even involve large amounts of time and money, but the process is delayed, income loss and damaged partnerships.
Travel and tourism
Travel and tourism are enjoying a healthy increase in income, because more travel service providers can provide information in many languages because of translation services. Many types of documents require translation, including terms and conditions, promos and special offers, brochures, leaflets, and travel documents. Thanks to the translation provider, they can diversify and offer their services to local and international clients.
Banking and finance
When trading globally, international customers and clients usually prefer to have documents translated in their own language. There is a need for higher levels of consistency, and translation services are needed to create any part of communication and any transaction items are clear and appropriate. Trust is the main component in strengthening business relations, and one way to ensure self-confidence and trust in its partner is to accurately translate documents.
Medicine and life
Accuracy in the medical industry and life science is very important. This sector includes translations of recipes, medical instructions, medical reports, leaflets, patient records and doctor’s manuals.
It can even be extended to the translation of medical books, medical journals, research materials, and other equipment used by health care companies, pharmaceutical companies, medical device manufacturers, and other companies involved in the medical, scientific and life science industries. Health insurance, which is a hot problem included in this industry, is another business that depends on medical translations.
Like all other industries listed here, most require translator services who are also basic material experts, with years of experience and overall knowledge of certain fields. Each of these industries has lexicon, jargon, and terminology itself understood by practitioners in each sector.