Indeed, this $3 billion market for Canada alone is doubling every five to seven years. The global market is even bigger. So we're talking about extremely significant potential economic development for Canada in order to position itself.
Currently, Canada clearly has a serious shortage of translators and terminologists to meet its needs. We know that Ireland and Australia have seized a significant share of the Canadian translation market. The primary interest should potentially be to train more translators in Canada. It is very important to support the development of training activities in both the private sector and the universities. It is extremely important to train more people so that, collectively, Canadians can benefit from the extraordinary growth in this market.
Second, it is essential to train translators so that they can work efficiently and produce more. The only way to increase translators' productivity is to put tools at their disposal, whether it be software, software packages or simply physical instruments that facilitate and accelerate translation. These products can only be developed in Canada if we invest in research and development.
The Language Technology Research Centre is the first and currently the only research centre specialized in language technologies in Canada. Earlier I mentioned that, for us to be competitive, we would need $6 million a year more than the current funding shared by LTRC's partners. Beyond that, it would be extremely important to arm the Canadian industry so that it can put these inventions on the market so that it can benefit fully from them, whether it be the business marketing market or the translation market itself.