Report on the State of the Translation Industry in 2012

ProZ.com jut released a very important brief on the state of the translation industry.  Let me quote one of the important sections therein:

Demand and growth

Indicators here are fairly positive. Almost 70% of translators asked are handling more volume now than just two years ago (around 12% were unsure if the volume had increased or not), and just under 70% report steady or increasing volume from 2011 to 2012 (5% were unsure).

According to Common Sense Advisory, the market for outsourced language services is worth US$33.523 billion in 2012, and it is calculated that the language services market is growing at an annual rate of 12.17% (up from 7.41% in 2011). The US Department of Labor estimates that “employment of interpreters and translators is expected to grow 42 percent from 2010 to 2020, much faster than the average for all occupations.” EMSI, in a recent report, stated that translation and interpretation services have grown by approximately 50% since 2007 in the US.

These indicators would seem to match with the concept of a “flat world” in translation as we saw at the beginning of this report. Demand is healthy, growth has increased. How is this affecting freelance translators in terms of their own income and growth?”

I recommend that all translators and interpreters take a look at this important document @ http://www.proz.com/industry-report/2012.

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