The global market for transcription and translation services continues to grow across all segments. Traditional European languages, such as French, German, Spanish, Portuguese and Italian continue to grow, with Chinese, Korean, and Japanese fast becoming the primary Asian languages spoken on the planet. In large part due to the increased globalization of the business sector, as well as political reasons, speakers of once-neglected languages are now looking for the services of translation companies. Government officials from the European Union need to communicate in 24 languages, including Indonesian and Vietnamese, as their economies continue to grow. Companies that expanded their business into Africa regard the languages of the continent as important.
According to The Economist, software speech recognition and machine translation are limited when it comes to translating from one language to another. Both automated approaches only provide a rough idea of the message, which is not enough for businesses. That’s why, even with the introduction of automated software, the manual translation industry continues to grow each year despite the numerous improvements in the advancing world of technology that aim to replace human counterparts. Companies involved in the translation, software localization, and transcription industries generate gross annual revenues of more than $40 billion. With over 95% of this market serviced by human-powered solutions, translation and transcription industries continue to grow.
In other words, technology will not replace human workers any time soon. Instead, technology will empower and help the workers keep up with the demand for high-quality transcription and translation services. Technology is a supplement rather than a substitute or complete replacement of the human workforce. Our company, TranscribeMe, continues to lead the way in hybrid technology and crowd worker solution for transcription and translation services. We are glad to see the growth in the overall market for our services and are excited to be reviewed and rated as one of the top transcription and translation companies in the world. We champion empowerment of our workers by inventing and deploying hybrid technology that combines speech recognition with real workers to deliver exceptional transcription and translation services.
Leading ‘work from home’ blogs, such as The Pennyhoarder, named TranscribeMe a number one crowd-sourced transcription company in the world. We search for the best candidates across the continents, and transcribers go through a rigorous training and examination process before they transcribe audio and video into perfect quality text for the clients. An additional Quality Assurance team ensures that our customers get the highest quality service available in the market today.
Automated translators might replace human ones in the future, but for now, the human factor is still essential to provide high-quality transcriptions and translations. Software and human workers complement each other, with the former making the job easier for the latter. The market for translation and transcription services will continue to grow as companies extend their businesses globally. Learn more about TranscribeMe on our website here and contact us for more details anytime.