Language Translation Service Providers in Global Survey Reveal Industry Statistics
Common Sense Advisory, which is a research and analysis firm specializing in translation and localization services among other related businesses and industries, has recently released a report analysis based upon a global survey of language translation service providers (LSPs) and freelance translators. The report is based upon a survey of 651 language translation services and translators from 75 countries. The survey compares translation service providers' various responses to questions about pricing, customer base, and more. The purpose behind the report is to provide information to LSPs about things like maintaining competitive or low cost translation rates, as well as the pricing, demand and comparison of the 33 major language translation pairs; business translation preferences, and several other key factors within the language translation industry.
The report found that of all the 156 language pairs that were surveyed, English to Russian translation has been the most compressed overall, from 2007d until now - in response to globalization, economical regression, and the advancement of technology. In other words, English to Russian translation is one of the most competitive for low translation cost and service. This does not mean that Russian to English translation is in the same pricing range, however. French and German translation were found to be the most stable in terms of translation pricing, demand, and overall provision and availability of professional translation service worldwide.
Key Findings in Global Language Translation Service Industry
Other important findings the report reveals is that the demand for professional document translation services is up - and steadily climbing, but pricing is down. Very few from the 156 language translation pairs subject to the survey were not affected by the past years trend in decreasing translation rates and pricing. It was also noted that many very large LSPs - in addition to freelance translators who are not qualified - are driving down prices for mid-sized language translation service providers. Another key note was in regards to automated translation - translators who use automated translation memory for previously translated text, attract buyers and businesses looking to save considerable differences in price.
The entire story about the Common Sense Advisory report on global translation services and translators can be read at http://www.release-news.com/index.php/automotive/20806-translation-and-localization-industry-pricing-survey-reveals-while-demand-is-up-prices-are-down.html as well as further information about Common Sense Advisory as a research firm.