The language service industry is booming, helping businesses all around the world communicate effectively. Over the last ten years, the market has doubled in size, reaching 46.9 billion U.S. dollars in 2019. Below are some of the sectors that can benefit from language services…
Market Research is a sector that has been expanding rapidly in the last few years. This has partly been in response to more businesses learning the value of truly understanding consumer needs, but as communicating around the world becomes easier businesses are looking to expand into overseas markets. However, to do so effectively companies need to able to speak their target consumer’s language and respect their cultural norms. In these instances, whether you’re running a focus group or sending out a survey, it is essential that market research companies have access to language services.
With ever-increasing advances in technology, the transcription and translation industry has been able to adapt quickly to the needs of qualitative and quantitative market researchers. Language service providers deliver the range of services and knowledge needed that would be costly and time-consuming to establish in-house.
Banking, Finance and Insurance
The financial services industry facilitates the management of money and includes banks, credit and lending companies and insurance companies, as well as those companies providing services and technology to support them. The industry is dominated by large, multinational brands which use b2b market research to build and maintain a competitive edge.
This sector plays a vital role in the global trading environment. In order to attain new customers in foreign countries and achieve a high level of consistency, organisations in the banking and financial industry use translation services to make their communications clear and effective. This helps them to strengthen relationships and trust with potential clients. Accurate translation of financial documents, forms and transactions help them to meet the expectations of their clients and customers easily, wherever they are.
While some manufacturers are considering bringing their offshore production back to their home countries, a significant proportion of manufacturing companies still make use of outsourcing to other manufacturers overseas. Consequently, translation is needed to help these two parties communicate clearly and effectively, whether you’re sending technical drawings or instruction manuals.
Even if you don’t outsource your manufacturing offshore, any manufacturer that wants to sell products globally will require translation. All packaging and health and safety information will need to be translated into the target market’s language for the product to sell.
Healthcare, Pharmaceuticals and Medical
Much like manufacturing, the healthcare, pharmaceutical and medical industry is global, and translation is required for everything, from dosage instructions on medicines to patient notes. But it’s not just translation that helps the medical industry tick over worldwide; interpreting and transcription are also invaluable services.
Interpreting is becoming increasingly in demand in countries, such as the UK, where a significant proportion of the population does not speak the native language of that country. This is not a job that can be done by just anyone either. It requires a highly trained and experienced person who can clearly communicate between the doctor and patient, as someone’s life could be at risk.
Retail, Consumer and Ecommerce
With so many websites trying to sell products, making sure you stand out in an oversaturated market is the key to success for many businesses. However, if your website is only available in one language you could be severely hampering your business’s growth potential. The first step in securing your global online presence is to translate and localise your website to accommodate your target market.
A study from the Common Sense Advisory in 2014 revealed that 75% of people prefer to buy products in their native language and 60% would rarely or never buy products from English only websites. Translation and transcreation can help ecommerce businesses provide a better quality service for customers when using their sites, as they can easily navigate everything in their native language.
Leisure and Tourism
Leisure and tourism is another global industry and with that comes the need for translation; no travel company would succeed if they insisted on only communicating in one language. Not only is accurate translation essential for maintaining good relationships with global clients and partners, it is what helps build brand loyalty with consumers.
Marketing, Advertising and PR
Marketing, advertising and PR is all about communicating your business’ brand messages to your audience effectively to drive sales. For a campaign to work on a global scale, creative license needs to transcend many borders. Literal translations will rarely capture an audience as the jokes, quips, and idioms that work in one country may fall flat in another.
Learning is becoming more internationally accessible, whether it’s in the workplace or the classroom. As many companies have offices based all over the world it can be difficult to train staff if they are based in different countries. In this instance, you need translated policies and guidelines to make sure all staff are effectively trained and informed.
Also, in response to our ever-growing international academic community, many colleges and universities are using translation to ensure their message and ethos can be understood by students around the world.
Apps, cryptocurrencies and online games – the world of technology is constantly changing. Therefore the software industry needs language services to help break into new markets. With an ever‑increasing amount of apps and programs, software and game developers need to carefully localise the language, colours and images they use for their worldwide audience to make sure they are appropriate and make sense to that audience.
To help get your product ready for localisation, technical teams of software and gaming specialists will advise you on encoding, space for text expansion, hard‑coding and the use of single strings. Software and gaming internationalisation project managers will communicate with you at every step of the way to ensure everything is right the first time.
This sector requires a whole variety of language services including transcription, translation and interpreting. Legal clients across the globe depend on legal language services for ongoing court cases, contract translations, witness statements, video interview transcriptions and more.
Language services can also help with certified translations, notarisation, legalisation and court interpreting. Certified translations are accompanied by a certificate which confirms the accuracy of the translation and that the linguist is qualified to carry out the work. Notarisation is completed after a document has been certified, a Notary Public certifies the documents are as described. As a third stage, legalisation is carried out by the Legalisation Office and an apostille is attached to the document. By using a trusted language partner, the legal industry can be sure that their data is fully protected and their translations are of a high standard.
At Language Insight, our specialised teams will provide you with high-quality language services that will help you communicate effectively with your international audience. Find out how our industry-specific services can help you by getting in touch with us here.