From Luxury to Utility
The translation technology segment is at a deeply transformative point in its evolution. For one generation the segment was largely comprised of solutions that serviced the professional translation industry. These tools improve the productivity and consistency of human translation and they remain relevant for their steadily growing target market.
However, in the last five years the grandfather of all translation automation technologies, machine translation, began to be adopted by the professional industry en masse and is increasingly ubiquitous on the worldwide web.
The ubiquity of continuously improving data-driven or statistical machine translation is one of three factors creating a paradigm shift in the demand for translation. In addition, global economic growth is shifting to non-English speaking markets and globalization is leading to previously unseen levels of cultural exchange.