(Last Updated On: April 29, 2015)Considering how technology alters people’s lives in such drastic ways, it could be hard to imagine what else there is left for man not to develop and improve on. The rewards that our modern world enjoys now are the fruit of tireless work and diligence to ease the lives and work of people, cutting across cultures and locations. It is this same fundamental principle which gave way to the conception of linguistic endeavors that primarily seek to connect people to a larger community if not the world.

Translation and language interpretation are results of a deeper desire to create a web of connection with peoples in the world; it may be for business reasons, for familial understanding or for communal relations that lead to closer ties with each other.

Restaurants, medical facilities and health care services, banks and other financial institutions, private companies as well as public groups are all part of the market that the phone interpreting industry provides service for. Surely, there is more than enough market for the field of telephone interpreting to lay their hands on.

Phone interpreting market share

In retrospect, the field of telephone interpreting has put in $994 million in worldwide revenue in 2011 – that is 3.40% of the total language market share. This figure actually increased from last year which was estimated at 3.26%. This market research survey conducted by Common Sense Advisory speaks of phone interpreting – as an industry – as a growing industry with a growing market share. Without doubt, that’s one great reason for the business of interpreting.

When the US hit recession in 2007 – extending until 2010 – the field of telephone interpreting was not affected. As a matter of fact, clients for phone interpreting increased to such a degree that non-health and health care services (accounting for a majority of these clients) expect the industry to increase growth by no less than 15% per year, starting in 2011.

Determining market share for the industry of linguistics, therefore, may not be difficult. Market research and studies all point to the same direction – and that direction is what drives the industry of telephone interpreting to continuously challenge trends and technologies that will create further growth for the business. The common understanding now is that the business of linguistics can expect positive changes towards industry-specific goals or company objectives. And members and stakeholders are all enjoined to make constructive contributions by sharing best practices among peers and also with other colleagues.

By bridging gaps and creating support groups that target to standardize practices and highlight positive trends within the market and among other fields in the language business, a shift in paradigm may bring in more opportunities for an even bigger market. Nobody really knows the limits of the speech translation industry, more so the strength and capacity for change and influence it can impart.

Anyone can certainly bet that the business of linguistics is not stopping just yet. Especially with the field of telephone interpreting, a lot of opportunities are bound its way. It is just a matter of getting the right chance with the right attitude and optimism.

The phone interpreting market is out there. Explore it, embrace it.