Namely, the localization business is fundamentally set to reconfigure by 2024. A new evolution of the localization business model is beginning to unfurl, a new Darwinian wave superimposed on the way that companies buy language services and cultural adaptation, and a new paradigm for localization companies to adapt to a global world in constant flux, something that is already starting to change the dynamic between buyer and
It outlines five trends that are transforming the localization market: the impact of artificial intelligence on localization workflows, the role of emerging markets, how localization services are now increasingly being used to create a more tailored user experience, the growing role of technology-driven interpretation services, and how these trends will affect how localization companies will work in 2019.
AI Integration in Localization Processes
Localization services are running their businesses in a very different way than even 10 years ago. The customer enjoys quality and efficiency, which was unheard of five years ago. Not only is AI helping localization companies succeed in project management, but it is also helping them automate frequently repeated tasks, optimize workflow, offer more quality output, and give faster time to market.
The field of linguistic quality assurance (LQA) is another AI-enabled capability that enhances translation quality. Through natural language processing (NLP), current LQA systems automatically identify linguistic defects or problems, assign them to categories, and produce reports with recommended corrections. Such feedback allows localization services to provide enhanced quality without increasing business costs.
Another rapidly expanding sphere of AI usage is machine translation. In recent years, unprecedented advancements in neural machine translation have resulted in more accurate and fluent translations, even whole documents and web pages.
Emerging Markets and Language Demands
Being in the localization industry for a couple of years, you have witnessed a significant change in the globalization industry. New markets were opened while language demands shifted from one language to another. According to Transparency Market Research, the global language services market size is expected to reach USD 108.90 Billion by 2032. The main motor behind the growth is the need for localized content in different formats and languages. We are witnessing a mega-revolution in Asia, Latin America, and Africa emerging markets. As their economies and technologies grow, we can expect an increasing need for localized content. This surge of demand is more visible in the media and entertainment sector as OTT providers also drive the demand for media localization services. To succeed in those markets, localization companies must adjust to various languages and cultures while providing high-quality solutions at affordable prices
Personalization and User Experience
One of the most significant changes to be witnessed is how we’ve been using user experience (UX) to personalize content and services. Collecting data and leveraging market insights means we are no longer just translating content and services. We also identify cultural differences to create a more appealing, hyper-relevant experience for specific target audiences. For instance, we have been utilizing AI-driven tools to make user recommendations regarding content consumption tailored to their own in-app behaviors, locations, and language preferences – leading to higher engagement and satisfaction levels. In the case of customization, we are also building consumer confidence and higher conversion rates. We must also do so with a healthy balance of customization and brand consistency, ensuring our core identity remains intact in the different markets.
Technology-Driven Interpretation Services
One change that one can notice is the greater use of technical fixes for the interpretation. The advent of remote simultaneous interpretation (RSI) revolutionized interpretation and made it possible to have many more events at a fraction of the cost. Interpreters no longer need to travel to a physical location to work but can now work remotely from their area and still provide services to events of all sizes. Technology also powers AI-based tools, which provide automatic speech recognition and machine translation. This new level of technological advancement is revolutionizing how localization companies offer services. Among other benefits, it enables localization companies to do more with less and makes interpretation services more affordable and accessible to a larger audience. While AI increases efficiency, it is not replacing the need for hybrid interpreters. The future of interpretation will be a hybrid model, with the speed of technology combined with the skill of humans.
Conclusion
Here are some of the key trends that localization services will contend with in 2024 and beyond, as a result of the AI-driven revolution in how companies translate and manage projects, the new markets opening up in emerging economies and the needs those create, the rising expectation of personalized user experiences, and the new tech-enabled interpretation services we will all be using. For most localization companies, the game has barely begun.
However, localization companies will undoubtedly want to stay with the trend – finding the right balance between what new tech the industry can adopt and what it needs humans for, which is the very foundation of the industry in the first place. Those who can ride these tides of change will be best positioned for success in the next year. And the prospects for localization are bright! There seems to be a world of possibilities in the emerging new landscape of internationalization.