Market for Outsourced Translation and Interpreting Services and Technology to Surpass US$34.7 Billion in 2013 - CSA Research > Blogs & Events > CSA in the Media > Press Releases
X
03Jun

Market for Outsourced Translation and Interpreting Services and Technology to Surpass US$34.7 Billion in 2013

| Return|

(BOSTON, MA) – The global market for outsourced language services and technology will surpass US$34.7 billion in 2013, according to a study by independent market research firm Common Sense Advisory. In its annual industry research report, “Language Services Market: 2013,” the firm details the findings of its comprehensive study, identifying over 27,600 unique suppliers of translation and interpreting services across 154 countries.

The firm, which has published market size estimates and global rankings for the past eight years, found that the demand for language services continues, and is growing at an annual rate of 5.13%. Global trade, international business, and content growth are three critical drivers for the language services industry. 

As part of the study, the firm surveyed more than 1,000 language service providers to collect actual reported revenue for 2011, 2012, and expected revenue for 2013.

“Language service providers in most regions of the world reported steady growth during fiscal year 2012, and their projected growth rates for 2013 are even stronger,” explained Don DePalma, Common Sense Advisory’s founder and Chief Strategy Officer. “The widespread availability of online machine translation has not decreased the demand for high-quality human translation. If anything, translation technologies appear to be acting as a catalyst to generate more demand.”

The five highest-ranked companies on the list of the largest 100 language services companies, listed according to 2012 revenues, are: Lionbridge Technologies, Hewlett-Packard's Application and Content Globalization group, TransPerfect, SDL, and LanguageLine Solutions.

Included within the report are:

  • Current market size estimates for the language services industry along with a detailed description of the research methodology
  • Projected growth rates for the industry through 2016, including region-specific breakdowns
  • Rankings of the largest 100 global industry leaders
  • Critical benchmarks for LSP financial performance, including average revenue per employee, average revenue per salesperson, and average revenue per project manager, including differences by company size and geography
  • Regional rankings of the largest translation and interpreting companies in Africa, Asia, Eastern Europe, Latin America, North America, Northern Europe, Southern Europe, Western Europe, and Oceania
  • Reporting on the fastest-growing services in the industry, such as translation, transcreation, multimedia localization, telephone interpreting, and other offerings
  • Breakdown of the market revealing market size estimates for on-site interpreting, translation technology, machine translation post-editing, video interpreting, multimedia localization, and other services

Adds Vijayalaxmi Hegde, Director of Research Operations at Common Sense Advisory and report analyst, “The market for outsourced language services and supporting technology is immensely important to the organizations and individuals that produce or consume information. We predict that increasing demand will push the market to US$43 billion by 2016.”

The full list of the largest language services providers based on revenue for 2012 is available at: http://www.commonsenseadvisory.com/AbstractView.aspx?ArticleID=5505. The full report is available as part of the firm’s research membership or for purchase at http://www.commonsenseadvisory.com/ProductDetails.aspx?pid=29.

About Common Sense Advisory

Common Sense Advisory is an independent market research company helping companies profitably grow their international 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 translation, localization, interpreting, globalization, and internationalization. For more information, visit: http://www.commonsenseadvisory.com or www.twitter.com/CSA_Research.

Media contact: Melissa C. Gillespie, Melissa@commonsenseadvisory.com, +1 760-522-4362

Related

The Future of Pricing Models as Translation Transforms from Computers-Aiding-Humans to Humans-Aiding-Computers

CSA Research presents data from enterprises in 27 countries and language services providers in 63 co...

Read More >

Annual Survey on the Size and Growth of the Global Language Services and Technology Market

Independent Market Research Firm Common Sense Advisory Launches 14th Annual Global Market Survey

Read More >

Data Scientist Paul Daniel O’Mara Joins CSA Research’s Global Team of Analysts

Market research firm CSA Research announces the addition of Paul Daniel O’Mara to its team as Direc...

Read More >

Terminology Management Helps Global Businesses Stretch Budgets and Save Costs

Each time a company adds more products, services, languages, or locales, data volume increases expon...

Read More >

First-ever In-depth Evaluation of Commercial Translation Management Solutions Designed for Language Services Providers

Independent research firm Common Sense Advisory releases MarketFlex report to guide LSPs in TMS eval...

Read More >

CSA Research’s Data-Based Services Demonstrate the Value of Localization Investment as an Engine of Global Growth

(BOSTON) – Global uncertainty makes planning and budgeting very difficult for businesses looking ...

Read More >