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(BOSTON) – The language services and technology industry includes more than 27,000 players worldwide, ranging from boutique local agencies to large global companies. This diverse group of language service providers (LSPs) and translation technology vendors adds up to a multi-billion-dollar global industry. CSA Research has released its 18th annual ranking of the largest LSPs in the world. The rankings are a result of the language industry’s most comprehensive, large-scale market study based on verified data from a representative worldwide sample of LSPs.
Leading Players in the Translation Services and Technology Market
LSPs support global experiences in other languages, delivering essential translation, interpreting, and localization capabilities, as well as a growing portfolio of data-centric services, to businesses, governments, NGOs, and consumers around the world. Included in CSA Research’s global market study is the ranking of the largest 171 language service and translation technology providers, ranked globally as well as across seven regions worldwide.
The top 10 largest LSPs worldwide—who authorized CSA Research to publish their verified data and listed according to 2021 revenues—are: TransPerfect; RWS Holdings; LanguageLine Solutions; Keywords Studios; Lionbridge; Appen; translate plus; Acolad; Hogarth Worldwide; and Welocalize.
The 10 largest companies illustrate major themes in the industry: consolidation, data for machine learning, global content, geographic expansion, and a focus on sectors that prospered in 2021 such as intellectual property, high-tech, biotech, and life sciences. Through organic growth and a series of strategic acquisitions, TransPerfect became the first LSP to cross the US$1 billion revenue threshold in 2021.
“Despite their size, all of the largest LSPs manifest one or more of the themes of consolidation, data-driven services, global content rather than just localization, more services, geographic expansion, and vertical focus,” comments Dr. Donald A. DePalma, CSA Research’s Chief Research Officer.
Study Methodology
The annual study is compiled from a representative sample of the 27,000 companies in CSA Research’s database of LSPs. Based on structured and documented market research methodologies to ensure independent and reliable data-driven research, we verify and validate findings. Many companies provide financial and company data but opt to not include their earnings in the public rankings.
“Producing a statistically valid sizing of the market requires historical knowledge, stringent methodologies, and verified data,” comments the firm’s CEO, Tahar Bouhafs. “Business leaders, LSP executives, and investors trust and use our research to make data-driven decisions that support growth.”
Upcoming Language Services Industry Market Research
“2022 Rankings of Largest LSPs in the World” includes the revenues, rankings, and locations of the 171 largest LSPs in the world and regional rankings of the largest LSPs in Asia-Pacific, Eastern Europe, Latin America, North America, Northern Europe, Southern Europe, and Western Europe.
With dozens of datapoints per respondent, CSA Research produces multiple pieces of research as part of the global market study series, including the following pieces of current and forthcoming research:
The annual ranking of the largest 100 language services providers in the world is open-access and available at csa-research.com. Regional rankings will be available on a rolling schedule.
About CSA Research
CSA Research, formerly Common Sense Advisory, is an independent market research company helping companies profitably grow their global businesses and gain access to new markets and new customers. Its focus is on assisting its clients to operationalize, benchmark, optimize, and innovate industry best practices in globalization, internationalization, localization, interpreting, and translation. http://www.csa-research.com | @CSA_Research
Tweet this: See the LSPs that made the CSA Research 18th annual ranking of the largest companies in the industry. #translation #marketresearch https://csa-research.com/Featured-Content/Global-Market-Study-2022/Top-100-LSPs
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