North America Interpretation Services Market
North America Interpretation Service Market By Application, By Geographic Scope And Forecast
According to Verified Market Research, the North America Interpretation Services Market was valued at USD 4.67 Billion in 2018 and is expected to witness a growth of 5.26% from 2019-2026 and reach USD 6.99 Billion by 2026.
Primarily in the language industry, there are three fundamental modes of interpreting: consecutive, simultaneous and sight interpretation. In simultaneous interpreting, the interpreter listens and renders the message in the target language at the same time as the speaker is speaking. In consecutive interpreting, the interpreter speaks after the source-language speaker has stopped speaking. Sight translation or interpreting is the oral rendition of a written text. Interpretation services require the interpreter to quickly convey the meaning of the message to the target language while at the same time being careful about retaining the tone and intent of the original message.
Interpreting requires excellent language proficiency as there is a need to be able to quickly analyze and transfer messages between languages, as well as an adherence to professional ethics and standards of practice. Interpreting is performed face-to-face and remotely, the latter of which requires technological platforms for the facilitation of telephonic and video multilingual communication. Interpreters are employed in various settings, some of which include schools, medical facilities, social services and national and international institutions, and more. With the advancement in interpreting technologies comes the development of more virtual and remote interpretation scenarios, making interpretation achievable in new settings and scenarios.
The Healthcare Industry has been witnessed to be coming under increasing pressure to provide translation and interpreting services for limited English proficiency (LEP) patients (especially ones that are more cost-effective). With regulations for insurance companies and healthcare providers being updated, all patient-facing materials must be updated as well and distributed to patients in a language they can understand. It is widely acknowledged that inadequate access to information in regards to healthcare services can adversely affect the quality of healthcare and have serious, even life-threatening, consequences. With the United States itself witnessing a large number of its population speaking a language other than English at home. Therefore, more than ever, insurance companies and hospitals are trying to provide information pertaining to their health and insurance coverage in various languages.
However, the technology-based interpretation services are rising due to the increasing cost charges of the service providers and the rising issues of privacy of data. There are many incidences that a company has hired a person as an interpreter, but for a better pricing interpreter has leaked the information or have limited ability to solve so outsourced it. This all led to the high demand for interpretation technologies. However, there are a very limited number of users, aware of the interpretation technologies. This slowed down the growth of the market
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