Translation services industry comprises establishments primarily engaged in translating written material from one language to another.
Translation Services Global Market Size
The global translation services market was valued at $43 billion in 2017. North America was the largest geographic region accounting for $26.6 billion or 61.8% of the global market. The USA was the largest country accounting for $20.1 billion or 46.7% of the global translation services market.
Translation Services Global Market Trend
Rise in the internet usage has allowed people to connect with each other resulting in rise in demand for long tail language translation services. Long tail languages include languages that do not form part of major languages and are not used by many people in today’s society. These languages are rarely spoken but still have a significant presence in many local communities. Most of the companies are localizing their business marketing strategies to target people falling in local tail languages category. Businesses are offering services that need to be translated to the people in local languages. As connectivity is on the rise there is a growing demand for long tail language translation services.
The companies covered are Lionbridge, TelePerformance, TransPerfect, Yamagata, and Semantix.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
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