Language Weaver, Leader in Automated Translation, Forecasts a $67.5 billion Digital Translation Market
‘Liberating Content’ becomes Language Weaver’s new Focus in Three Key Commercial Segments
LOS ANGELES – Sept 15, 2008 – Language Weaver announced today its positioning as a “human communications solution company” with a focus on massive volumes of digital content in three new commercial markets: Web Content, Business Intelligence, and Customer Care. The company will also will continue its focus on government work.
Language Weaver is a pioneer and global leader in statistical machine translation (SMT), which is powered by statistical algorithms instead of conventional rule-based methods.
[To hear a podcast on this announcement from CEO Mark Tapling, visit http://blog.languageweaver.com]
“Language Weaver’s industry-changing translation solutions have created entirely new, untapped commercial translation markets because we’ve lowered the cost of quality translation so dramatically,” said Tapling. “Conventional language translation services are typically priced at 21 cents per word, leaving many high volume requirements behind. Language Weaver is able to provide an automated solution that dependably conveys communication meaning for applications with high volumes, requiring speed, and accuracy.”
The size of the translation market today is estimated at $14 billion according to research and consulting firm Common Sense Advisory. Because of the dramatically lower costs that automated translation technology enables, Language Weaver estimates that untapped markets total more than $67.5 billion.
In a report on machine translation, Common Sense Advisory concludes a combination of global economic integration and growth of digital content under management puts pressure on price and volume factors for translation supply. "As government agencies, global manufacturers, and media companies flood their respective markets with information-based products and services, they demand staggering volumes and dirt cheap pricing from the translation supply chain." Common Sense Advisory has already observed that many firms have considered – and many more will evaluate – automated translation as a way to solve logarithmic growth in content volume, velocity, and volatility.
“Because we’ve lowered the cost of human communications in the digital content translations space by orders of magnitude, translation now makes sense as a powerful and strategic business tool,” said Language Weaver’s Tapling. “Every business wants to communicate, but few want to translate. Now, everybody can.”
Language Weaver is entering the three new strategic markets – Web Content, Business Intelligence, and Customer Care – based on Language Weaver’s proven ability to provide high-volume, high-speed, and accurate automated translation solutions at a price that would have been unfathomable just a few years ago.
The company will also continue its government work, said Tapling. “Our government business has been an anchor since our inception. We’ve learned a lot from our government customers and will continue to pursue this market aggressively.”
