09.07.2015 Views

Translation Bureau Benchmarking and Comparative Analysis - Final ...

Translation Bureau Benchmarking and Comparative Analysis - Final ...

Translation Bureau Benchmarking and Comparative Analysis - Final ...

SHOW MORE
SHOW LESS

Create successful ePaper yourself

Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.

<strong>Translation</strong> <strong>Bureau</strong> <strong>Benchmarking</strong> <strong>and</strong> <strong>Comparative</strong> <strong>Analysis</strong>IndustryFragmentationLack of visibilityWorkforce ChurnInvestment inresearch <strong>and</strong>developmentIndividual choices<strong>and</strong> motivationDynamics of supply<strong>and</strong> dem<strong>and</strong>3.7.3 <strong>Translation</strong> LanguagesTable 6 - Key Industry Challenges• Estimated number of translators, interpreters, terminologists, <strong>and</strong> localizationspecialists - 15,000.• Majority of industry are small enterprises.• A large number of small contracts.• Globalization will reduce fragmentation, but not for the near-term.• Canada's language industries are largely unknown in Canada <strong>and</strong> abroad.• Low level of knowledge about employment opportunities in the field.• Approximately 1,000 new translators are needed each year to meet dem<strong>and</strong> <strong>and</strong>replace retirees.• Under-investment in research <strong>and</strong> development.• Lack of economies of scale (i.e. fragmentation) does not support the financialbenefits needed to support the investment required.• Global organizations are able to make the necessary investments in tools <strong>and</strong>training.• Canada risks losing its linguistic infrastructure without investment.• Low profile of industry experiences challenges in attracting talent.• Occupational profiles <strong>and</strong> education programs not widely promoted.• Predominantly influenced by the public sector as it is the major consumer oftranslation services.• Inconsistent revenue streams <strong>and</strong> complicated management requirementsattributed to government acquisition policies that are complex, has resulted in fewprivate sector suppliers to supplement in-house work performed by the government<strong>and</strong> a general focus of private sector suppliers on private sector dem<strong>and</strong>.Internationally, there has been significant growth in multilingual translation <strong>and</strong> inlocalization 16 . The industry is expected to grow at an annual rate of 7.4%. International trade<strong>and</strong> the growth of global content, such as for websites <strong>and</strong> multimedia, remain stronglycorrelated to high-growth industry sectors <strong>and</strong> language pairs (e.g. Chinese to English). Chinesetranslators in particular are in high dem<strong>and</strong>.Specific to Canada, the country’s increased diversity is increasing the dem<strong>and</strong> for languagesother than French <strong>and</strong> English 17 .3.8 ConclusionThere continues to be increase in the dem<strong>and</strong> for translators despite the use of automatedtranslation <strong>and</strong> increased productivity 18 of existing professionals.Both globally <strong>and</strong> in the Canadian market, dem<strong>and</strong> for less common languages is increasing <strong>and</strong>will continue to drive growth, as will dem<strong>and</strong> for web <strong>and</strong> multimedia services. Suppliers faceincreased time pressures from translation service buyers.Although industry fragmentation will be the norm for years to come, industry consolidation is,<strong>and</strong> will continue to be, significant. More mid-sized <strong>and</strong> small LSPs (i.e. revenue of US$516Source: The Language Services Market: 2011 – Common Sense Advisory – May 201117Source: Found in <strong>Translation</strong> – Job Postings Canada18Source: Translators, Terminologists <strong>and</strong> Interpreters – Service Canada – December 2010Page 21 of 43

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!