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The industry is projected to continue an upwards trend in growth as more companies utilize localization strategies to upgrade their multinational operations, with many allocating line item budgets specifically for localization. As consumers move away from traditional forms of media consumption, the industry will see a greater demand for video and voice localization for a range of devices and platforms, and embrace newer methods to improve agility and adaptability. Humans will still remain relevant since AI-backed advancements in machine translation technology, however remarkable, will not spell doom for LSPs and translators; instead, their adoption will popularize transcreation services and specialized content skills. Fast-growing Asian and African markets providing impetus to companies to step up localization efforts in order to connect better with consumers Benefits of content localization recognized by companies Increased sales Improved lead generation Better user experience and engagement Enhanced user/buyer satisfaction Consistency in global branding Top five types of content getting localized Websites and blogs Social media accounts Video Marketing and branding materials Technical copy App content HR & Training materials Languages seeing jump in demand Thai, Malay, Hindi, Vietnamese, Arabic, Indonesian Common challenges Data management Quality measurement Timely delivery Client-specific issues Costs Process management Metrics Automation Impact of economic troubles Any slowdown in western markets is unlikely to adversely affect the industry, and may even improve numbers as companies look to supplement weak domestic revenues with overseas expansion Shift from transactional vendor-client relationships to marketing team extension Strong working relationships will form the basis of better localized content MT on the rise The Machine translation market is expected to grow at a CAGR of 6% between 2017 and 2023 The APAC region, driven by business needs, increasing consumption, and rising income levels, will lead the pack in the sector in growth rate Europe to be the second largest market with fast adoption of MT services, many of which are now feasible for smaller companies Neural machine translation (NMT) Though nascent, NMT is gaining traction with companies like Google and Baidu due to its ability to translate easily between vastly different languages without using a pivot language Cloud computing Growing acceptance of cloud-based solutions for translation processes and management systems owing to reduced operational costs New products and collaborations MT providers and technology companies entering into alliances will push the industry forward with better service standards and solutions CSOFT International is a world leader in global communication services, providing turnkey solutions for companies facing the challenges of engaging customers and markets across linguistic and cultural barriers. Content: Naini Singh, Senior Writer Design: Paulo Marques, Senior Designer

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CSOFT International is a translation, localization, and global communication services provider that helps international businesses reach out to customers around the world.

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