The financial research industry will grow through translation and localization

Published on 09 Mar 08:16 by Sam Yip
Tags: translation   research   finance   localization   industry   growth  

TranslateFX The financial research industry will grow through translation and localization

According to a recent report by First Research Inc., the global market research industry produces $45 billion in annual revenue

Europe and the United States are still leading the industry, but countries such as China and India are experiencing increasing demand for services related to market research. This should not come as a surprise, as demand is driven primarily by the health of the economy and corporate profits, and the economy in develop countries such as China and India are rapidly growing.

The implication is an increasing global audience for research reports, and one of the best ways to cater to an audience in a global market is to translate these reports in their native languages. Translation and localization improves a research company's ability to sell its report to a wide audience, and at the same time demonstrates its commitment to doing business in different countries

From the perspective of the corporate audience, the ability to access foreign research reports in native language is known to have an impact in corporate decisions. This is especially important for corporations with aspirations to expand overseas, where they would need to be in a position to evaluate the foreign market situation and foreign investment projects. It is often not easy for corporations to obtain practical information on foreign markets, and research reports, properly translated into a client's native language, can fill this gap.

The upcoming demand for translated reports represents an opportunity for research companies to grow their business globally, and essentially sell the same report twice over at low additional costs. Long-term success in the research business will be dependent on one's ability to localize and provide fast and insightful research to different clients in different languages.

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