(BOSTON, MA) – The global market for language services will reach US$26 billion in 2010, according to a study by market research firm Common Sense Advisory. In its report, “Language Services Market 2010,” the firm details the findings of its comprehensive, six-month study, which identified 23,380 unique suppliers of translation and interpreting services across 149 countries. Topping the global list of language service companies is Hewlett-Packard's Application and Content Globalization (ACG) group with 2009 revenues of US$457 million, followed by McNeil Technologies ($404.7 million) and Lionbridge Technologies ($389.2 million).
As part of the study, the firm also surveyed 839 language services suppliers around the world. “The survey respondents only represent a fraction of the total market, but they accounted for more than US$6 billion in revenue, while the Top 35 companies make up nearly US$3.5 billion,” explained Nataly Kelly, the lead author of the study.
The study also describes the fact that the market for translation and interpreting services continued to grow in spite of the global recession. “While we definitely saw a slowdown in growth compared to previous years, the overall market is still growing at a rate of 13.15%,” explains Kelly. The firm also found that larger companies were affected more adversely by the economic downturn than smaller and mid-sized ones.
While the firm has published market size estimates and global rankings for the past five years, its enhanced algorithm, updated methodology, and more extensive data collection resulted in more detailed insight than ever before. Kelly points out, “Through this study, we obtained concrete data on the amount of opportunity for each major service area, detailed breakdowns of regional and country-specific market share, and lists of the top-ranked suppliers in eight major regions of the world.”
Included within the 61-page report are:
- Ranking of Top 35 global suppliers
- Global market size estimates for 2010 through 2014
- Maps that highlight regional distribution of suppliers and market share
- Lists of the top suppliers in 8 major geographic regions: Africa, Asia, Eastern Europe, Latin America, North America, Northern Europe, Southern Europe, and Western Europe
- Regional market size estimates for each of the regions, plus Oceania
- Discussion of how the market fared throughout the recession
- Detailed description of the firm’s methodology
A free extract of “Language Services Market 2010” is available at: http://www.commonsenseadvisory.com.
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 or www.twitter.com/CSA_Research.
Contact: Melissa Gillespie, Melissa@commonsenseadvisory.com, 760-522-4362