Translation Management Statistics 2023 – Everything You Need to Know

Are you looking to add Translation Management to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Translation Management statistics of 2023.

My team and I scanned the entire web and collected all the most useful Translation Management stats on this page. You don’t need to check any other resource on the web for any Translation Management statistics. All are here only 🙂

How much of an impact will Translation Management have on your day-to-day? or the day-to-day of your business? Should you invest in Translation Management? We will answer all your Translation Management related questions here.

Please read the page carefully and don’t miss any word. 🙂

Best Translation Management Statistics

☰ Use “CTRL+F” to quickly find statistics. There are total 70 Translation Management Statistics on this page 🙂

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Translation Management Market Statistics

• Europe owns nearly half of the global language services market at 49%, followed by North America at 39.41%. ^[0]
• The translation service market size grew by 40% during COVID. ^[0]
• According toGlobal Market Insights, the US market for machine translation can be found in the following sectors, and the market size of all sectors is expected to grow in the next 5 years. ^[0]
• Statistical Machine Translation alone contributed to more than 65.0% of the overall MT market revenue. ^[0]
• Within half a year of implementing a translation memory system, the digital marketing agency, Dataduck, could automatically translate 15% of their content using TM alone, which significantly reduced per. ^[0]
• According to the research report ” Translation Management Software Market by Deployment and Geography Forecast and Analysis 2021 2025 “, the market will witness a YOY growth of 13.72% in 2021 at a CAGR of 14.81% during the forecast period. ^[1]
• According to our report, the region will contribute 32% of the global market growth. ^[1]
• 2021 2025 USD 1.58 billion Market structure Fragmented YoY growth (%). ^[1]

Translation Management Software Statistics

• Translators estimate that using translation software can boost their productivity by at least 30%. ^[0]
• Using the right software can help cut translation costs by 90% that stem from human errors, unnecessary email communication, and time spent on uploading content and searching databases. ^[0]
• One company saw their productivity increase by up to 60% in their first 5 months of using translation software. ^[0]
• In fact, one of the latest translation software statistics shows that you can potentially reduce project length and cut costs by 90% by using the right tool. ^[2]

Translation Management Latest Statistics

• Approximately 42% of languages are endangered. ^[0]
• Out of all the continents, Asia has the most indigenous languages at 32%, closely followed by Africa at 30%. ^[0]
• The most widely used language on the internet is English, accounting for 25.3% of all internet content. ^[0]
• The second is Chinese at 19.8%, and third is Spanish at 8%. ^[0]
• A large scale behavioral study in 2014 showed that 75% of consumers are more likely to buy products from websites in their native language. ^[0]
• Around 40% of internet users said they will never buy from websites that are not in their native language. ^[0]
• 65% of non native English speakers prefer content in their native tongue, even though they are highly proficient in English. ^[0]
• Translating your website for these 4 countries is estimated to give you access to 50% of worldwide sales potential United States, China, Japan, and Germany. ^[0]
• Translating your website to the following languages enables you reach 80% of the online purchasing power globally. ^[0]
• Businesses that invested in translation were 1.5 times more likely to observe an increase in revenue. ^[0]
• Fortune 500 companies were reported to be 2.04 times more likely to improve profits and 1.27 times more likely to generate more earnings per share when they invested in translation. ^[0]
• 86% of localized mobile advertisements performed better than their English counterparts, showing a 22% and 42% increase in conversion and click. ^[0]
• In 2020, the demand for translation in healthcare increased by 49% due to the need to dispense COVID. ^[0]
• A 2020 survey involving 7,000 professional translators and interpreters found that 75% of respondents were self. ^[0]
• 66% of respondents in the same survey are females. ^[0]
• Another 2020 survey show that 93% of freelance translators have at least one degree, 39% of which are language degrees. ^[0]
• On average, female freelance translators charge 7% more per word than their male counterparts. ^[0]
• On the other hand, the men charge 5% more on minimum fees. ^[0]
• On average, freelance translators who are members of professional associations charge 30% more than those who are not. ^[0]
• On average, freelance translators with 1 to 2 narrow specializations charge 29% more than those without specialist areas. ^[0]
• Translation agencies are 2.5 times more likely to ask translators to lower their rates than direct clients. ^[0]
• 77% of freelance translators have received this request from agencies, while only 41% have heard the same from direct clients. ^[0]
• In one survey, 52% of respondents said that they have not acquired any formal translator or interpreter certifications in their native language. ^[0]
• The employment of translators and interpreters is expected to increase by 20% from 2019 to 2029, which far exceeds the average rate of 4% for all occupations. ^[0]
• According toU.S. News Best Jobs, the salary range for translators and interpreters in 2019 was as follows. ^[0]
• The freelance translation workforce reached a high of 14,362 people in 2020, and 58.2% of them are women. ^[0]
• A survey shows that 88% of full time professional translators use at least 1 CAT tool. ^[0]
• Out of them, 76% used more than 1 CAT tool. ^[0]
• Another company reported that projects managers spent 40% less time on localization. ^[0]
• According to a July 2020 report, the top performing MT provider in terms of likeness to human translation is Amazon. ^[0]
• Depending on the quality of the MT provided, some translators may charge only 50% to 70% of their regular translation rates for post. ^[0]
• Language service providers reported that the percentage of projects for end clients using machine translations climbed from 13% in 2019 to 24% in 2020. ^[0]
• A study assessed Google translations of medical instructions for patients and found that Spanish translations had the highest accuracy rate of 94%, followed by Tagalog (90%), and Korean (82.5%). ^[0]
• One study reported that 82.5% of professional translators used TM technology. ^[0]
• were to save time (86% agreed), ensure consistency in terminology (83%), and improve translation quality (70%). ^[0]
• Translators claimed a 10% to 60% increase in productivity when using TM. ^[0]
• Bernhard Beumer Maschinenfabrik KG, a multinational manufacturer of intralogistics systems, reported a 30% reduction in translation costs after using TM. ^[0]
• The translators used a minimum level of cognitive effort when working with fuzzy matches between 60% to 69% similarity. ^[0]
• Anything less than 60% cause their eye pupils to decrease in size, indicating a more focused effort on the task. ^[0]
• However, our recent deep dive into current translation industry trends found that 75% of consumers from non English speaking populations prefer to buy products in their native language. ^[2]
• More than 40% of our customers have partially automated their processes and are planning on increasing automation even further in the future. ^[3]
• Almost 90% of freelancers use the vendor portal to accept jobs, retrieve files and deliver final documents to the LSPs. ^[3]
• According to a 1972 report by the Director of Defense Research and Engineering , the feasibility of large scale MT was reestablished by the success of the Logos MT system in translating military manuals into Vietnamese during that conflict.[14]. ^[4]
• About 90% of an average text corresponds to these simple conditions. ^[4]
• But unfortunately, there’s the other 10%. ^[4]
• A shallow approach that involves “ask the user about each ambiguity” would, by Piron’s estimate, only automate about 25% of a professional translator’s job, leaving the harder 75% still to be done by a human. ^[4]
• Translation Management Software Market Scope Report Coverage Details Page number Base year Forecast period Growth momentum & CAGR Accelerate at a CAGR of 14.81% Market growth. ^[1]
• North America at 32% Key consumer countries US, China, UK, Japan, and Germany Competitive landscape Leading companies,. ^[1]
• sank 30% this week, according to S&P Global Market Intelligence. ^[1]
• Revenue was up 13% year over year to $58 million, beating analyst expectations for the period. ^[1]
• U.S. West Texas Intermediate crude dropped 49 cents, or 0.5%, to $104.87 a barrel after settling 3.3% higher on Thursday. ^[1]
• Approximately 989 million people in China now have access to the internet, roughly 98% of whom are mobile users. ^[5]
• China accounts for nearly 50% of app downloads across iOS and Android. ^[5]
• About 40% of internet users won’t ever buy from websites that aren’t in their native language and are just staying on your website if you translate content into their native tongue. ^[5]
• Even 65% of people with high proficiency in English would rather look up something online in their native language, even if it’s poor quality. ^[5]
• After all, 75% of consumers are more likely to buy the same brand again if the aftersales care is in their native language. ^[5]
• You can reach more people given that 76% of consumers would rather read product information in their native tongue. ^[5]
• In the EU, 44% of people can’t quite trust websites offering content in a language other than their first, fearing that they might miss crucial information. ^[5]

I know you want to use Translation Management Software, thus we made this list of best Translation Management Software. We also wrote about how to learn Translation Management Software and how to install Translation Management Software. Recently we wrote how to uninstall Translation Management Software for newbie users. Don’t forgot to check latest Translation Management statistics of 2023.

Reference

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1. redokun – https://redokun.com/blog/translation-statistics.
2. yahoo – https://www.yahoo.com/now/translation-management-software-market-size-160000970.html.
3. redokun – https://redokun.com/blog/translation-management-system-benefits.
4. plunet – https://www.plunet.com/en/.
5. wikipedia – https://en.wikipedia.org/wiki/Machine_translation.
6. phrase – https://phrase.com/blog/posts/why-localization-is-about-survival-in-the-global-marketplace/.

How Useful is Translation Management

Translation Management: Enhancing Communication and Global Connectivity

In today’s increasingly globalized world, effective communication across different languages plays a vital role in fostering international relationships, expanding businesses, and promoting cultural understanding. As barriers of time and distance are transcended, the need for accurate and efficient translation services has become more apparent than ever. Enter translation management, a multifaceted tool that has revolutionized the way organizations approach translation and localization processes. With its myriad of benefits, translation management systems have proven to be indispensable in facilitating global connectivity and enabling seamless communication between diverse populations.

One of the primary advantages of employing a translation management system is the unparalleled efficiency it brings to the translation process. Gone are the days of laboriously sifting through documents or manually coordinating translations across multiple platforms. A well-designed translation management system serves as a centralized hub, streamlining the translation workflow by automating several repetitive tasks. Through features like file segmentation, automatic tracking, and terminology management, translation management systems enhance productivity, ensuring faster turnaround times and minimizing the risk of errors. By taking tedious administrative burdens off the shoulders of linguists and project managers, these systems allow them to focus on the critical aspects of translation, such as maintaining linguistic quality and cultural appropriateness.

Moreover, translation management systems provide increased visibility and control over translation projects, simplifying the task of managing multiple translation vendors, in-house translators, and regional offices. With most systems offering cloud-based platforms, communication can occur in real-time, even when team members are dispersed globally. Comprehensive collaboration tools within these systems enable seamless communication, task assignment, and scheduling, fostering a more cohesive and geographically diverse workforce. As a result, businesses and organizations can ensure consistent and coherent translations, greater transparency, and ultimately, a stronger global brand presence.

Translation management systems also excel in the crucial area of quality control. They equip project managers and linguistic experts with powerful tools to maintain consistency throughout texts, refine language nuances, and adhere to industry standards. With customizable workflows and extensive translation memory banks, these solutions increase accuracy, reduce mistranslations, and maintain a unified voice across various languages. Additional functionalities, such as terminology management databases and glossaries, enhance linguistic consistency, especially in cases where terminology variations exist within a particular field. Essentially, translation management systems foster accuracy, elevating the overall caliber of translated content and ensuring that messages are received without any loss of meaning or cultural sensitivity.

Furthermore, translation management systems function as repositories of historic data, becoming essential assets for future translation projects. As previous translations are securely stored within these systems, they become part of a valuable knowledge base. Leveraging this accumulated lexicon and translation memory enables organizations to reduce costs for subsequent translation endeavors. By utilizing pre-translated segments, the process becomes more efficient and cost-effective, especially for repetitive or ongoing projects like newsletters, technical manuals, or software updates. Additionally, these systems facilitate closer collaboration between teams during subsequent translation projects, ensuring that industry-specific terms, glossaries, and institutional memory are consistently employed across various translations.

In conclusion, translation management systems are employed across industries as an invaluable asset in managing and optimizing the translation process. Their efficiency, control, quality assurance, and data compilation capabilities contribute significantly to expanding global connectivity and enabling effective communication. As businesses continue to embrace international markets and creative endeavors seek to reach diverse audiences, the advantages of such systems become abundantly clear. With their impactful features, streamlined workflows, and precision, translation management systems empower organizations and individuals alike to communicate effectively, irrespective of linguistic barriers, fostering better understanding and connectivity in our increasingly interconnected world.

In Conclusion

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