(BOSTON, MA) – The global market for outsourced language services and technology will reach US$31.438 billion in 2011, according to a study by independent market research firm Common Sense Advisory. In its report, “Language Services Market 2011,” the firm details the findings of its comprehensive study, identifying 25,256 unique suppliers of translation and interpreting services across 152 countries.
The firm, which has published market size estimates and global rankings for the past six years, found that the demand for language services continues, and is growing at an annual rate of 7.41%. Global trade, international business, and content growth are three critical drivers for the language services industry.
As part of the study, the firm surveyed 912 language service providers to collect actual reported revenue for 2009, 2010, and expected revenue for 2011. The five top-earning firms are: Mission Essential Personnel with 2010 revenues of US$588 million, Hewlett-Packard's Application and Content Globalization group ($460 million), Global Linguist Solutions ($435 million), Lionbridge Technologies ($405 million), and TransPerfect/Translations.com ($252 million).
Included within the report are:
- Current market size estimates for the language services industry along with a detailed description of the methodology
- Projected growth rates for the industry through 2014, including region-specific breakdowns
- Rankings of the Top 50 global market leaders plus analysis of the companies that out-performed general market growth in 2010
- Regional rankings of the largest translation and interpreting companies in Africa, Asia, Eastern Europe, Latin America, North America, Northern Europe, Southern Europe, and Western Europe
- Critical financial benchmarks for LSPs, including average revenue per employee by region and country
- Analysis of percentage of revenue derived from sales to other suppliers (reselling) within the market by company size
- Reporting on the fastest-growing services in the industry
- Breakdown of the market revealing market size estimates for on-site interpreting, translation technology, video interpreting, multimedia localization, and other services
- Trend reports on topics such as consolidation, globalization, global trade, content growth, and technology
To purchase the full 75-page report, visit this link:
To view the 2011 list of Top 50 language services providers, visit this link: http://www.commonsenseadvisory.com/AbstractView.aspx?ArticleID=1429.
About Common Sense Advisory
Common Sense Advisory, Inc. is an independent research and analysis firm specializing in the on- and offline operations driving business globalization, internationalization, localization, translation, and interpretation. Its research, consulting, and training help organizations improve the quality of their global business operations. For more information, visit: www.commonsenseadvisory.com.
Contact: Melissa Gillespie, Melissa@commonsenseadvisory.com, 760-522-4362