Impact of COVID-19 on the Global Translation Service Market
The primary factor responsible for the growth of the market is the increasing geographical outreach by enterprises globally, which has resulted in a growing base of foreign clients that require translation services. The COVID-19 pandemic has spread across the world and has had a mixed impact on various industries. However, the lockdowns in the various countries have only marginally impacted the translation services market, as most of the translators are working from home using digital documents. On the other hand, the interpreters who provide these services in person at international events, symposia, and conferences are facing difficulties, as global businesses are no longer allowed to host delegations of partners and foreign clients in executive briefing centers and conference halls. Most of the corporate events have been postponed or canceled owing to the COVID-19 pandemic. Despite the cancelations and delays in these events, translators have played a significant role during the pandemic by helping both international and domestic companies in capitalizing on the current opportunity of developing their businesses worldwide. The worldwide response to the COVID-19 pandemic has been accelerated as various analyses, research, and data, are being translated and circulated among professional communities. Relevant documentation, accurately translated, transcribed, and dispersed across the globe, is expected to aid experts in collaborating to curb the spread of COVID-19.
According to the MRFR analysis, North America is expected to dominate the market owing to the high adoption of translation services in government and security agencies. The government security service agencies are increasingly using translation services to identify and interpret radio signals and messages. Besides, the growing use of advanced translation services in the field of analytics is driving the growth of the market in the region.