As the world becomes increasingly interconnected, the demand for professional translation services has seen an exponential surge. The capacity to communicate effectively across linguistic barriers is now considered not merely a desirable skill but rather an absolute necessity. It is in this scenario that the professional translation services industry has emerged as an integral player on the global stage. The purpose of this article is to delve deep into the key findings and crucial insights of this burgeoning industry, a veritable world unseen to many.

At the outset, let's decode what ‘professional translation services’ implies. It refers to the sector devoted to converting written material from one language to another while maintaining the integrity, tone and nuances of the original content. This process is typically facilitated by qualified linguists who possess a deep understanding of the source and target languages, as well as an intimate knowledge of the relevant cultural contexts.

Delving into the geographical distribution, the industry is spread across the world but with noticeable concentration in regions with significant multilingual populations and international businesses, such as the EU and North America. The Asia-Pacific region, with its melting pot of languages and increasing economic activities, has also displayed a significant increase in demand for these services.

One cannot overlook the time dimension of the industry's growth. The translation services industry saw a significant resurgence in the late 20th century with the advent of globalization and the internet, which spurred the necessity for and accessibility of such services. This has been further expedited by technological advancements in recent years, notably machine learning and artificial intelligence.

Speaking of technology, it’s pertinent to discuss its role in shaping the industry. Machine translation, powered by AI algorithms, has gained popularity due to its speed and relatively low cost. However, while the technology has improved vastly, it still falls short in areas requiring human nuances, cultural context and complex linguistic structures, leaving ample space for human translators. This predicament is reminiscent of the classical economic argument of Man vs. Machine, with each having its inherent advantages and disadvantages.

The ‘how’ of the translation process is often the hinge on which the quality of the service swings. Professional translators employ a range of strategies, such as literal translation, paraphrasing, or cultural adaptation to ensure the translated content remains faithful to the original. The choice of strategy significantly depends on the nature of the text, the target audience, and the purpose of the translation.

Now, coming to the crux of the matter - why is this industry significant and why should we care? The answer lies in the fact that language is the conduit through which ideas, information, and culture are transmitted. In an increasingly global world, the ability to understand and be understood across linguistic boundaries is paramount.

The professional translation services industry is not merely about converting words; it's about bridging gaps, fostering understanding, and facilitating communication. The importance of this industry is further accentuated by the critical role it plays in various sectors - from legal to medical, business to academia.

In conclusion, the professional translation services industry, though often overlooked, is an essential cog in the machinery of today's globalized world. With technological advancements and increasing demand, it is set to grow and evolve in ways we can only begin to imagine. It is, therefore, essential for us to understand and appreciate the dynamics of this industry.