May 2019

Global translation and interpreting market to reach US$49.60 billion in 2019

The global market for outsourced language services and technology will reach US$49.60 billion in 2019, according to a primary quantitative study by independent market research firm CSA Research.

The firm surveyed 589 providers from around the world to collect up to 169 datapoints per respondent including actual reported revenue for 2017, 2018, and expected revenue for 2019. The global market leaders in the 15th annual global study are detailed in CSA Research’s "Who’s Who in Language Services and Technology: 2019 Rankings," a verified and validated global analysis of private and publicly-traded language services and technology companies.

Language service providers and technology developers support those global experiences in other languages, delivering essential translation, interpreting, and localization outsourcing capabilities to businesses, governments, NGOs, and individuals around the world.

Based on a representative sample from CSA Research's database of 18,000 LSPs and its proprietary algorithm, the firm found that the market for language services and supporting technologies will grow 6.62 percent from 2018 to 2019, however the 100 largest LSPs grew at 20.08 percent. The industry’s compound annual growth rate over the last 11 years was 7.76 percent.

"People worldwide prefer consuming information in their own language. Meeting this expectation − and sometimes the legal requirements to do so – fuels an indispensable global industry that continues growing due to global digital transformation," comments Dr. Donald A. DePalma, CSA Research’s Chief Research Officer. "Language service providers and technology developers support those global experiences in other languages, delivering essential translation, interpreting, and localization outsourcing capabilities to businesses, governments, NGOs, and individuals around the world."

Included in CSA Research's global market study is the ranking of the largest 193 language service and technology providers globally, as well as by region, all of which offer language and localization services to enable enterprises to expand global reach and to respond to domestic needs. The top 10 largest LSPs worldwide, listed according to 2018 revenues, are: TransPerfect; Lionbridge; LanguageLine Solutions; SDL; RWS Holdings; translate plus; Keywords Studios; Appen; Hogarth Worldwide; and Welocalize.

The verified and validated data of the largest 100 LSPs in the world is open-access and available here.

 

https://csa-research.com