| 
   
Article Details
Common Sense Advisory Blogs
Language Service Providers Solidify Their Place on the Inc. 5000
Posted by Vijayalaxmi Hegde on September 18, 2012  in the following blogs: Best Practices, Global Marketing, Market Data, Translation and Localization
Pages | |


Language service providers (LSPs) continue to maintain their place in the yearly Inc. 5000 ranking. This year, 20 translation and interpreting companies made it to the list, up from just 15 in 2010 and 18 in 2011. As we saw last year, the three-year growth rate of LSPs listed by Inc. exceeds the overall pace of the language services sector This year, most language service providers on the list (see table below) are growing at more than 20%, while the industry itself will climb at a rate of 12.17% (see “The Language Services Market: 2012,” May12).

Inc. Rank

Language Service Provider

3-Year Growth Rate

Revenue in US$ millions

311

InDemand Interpreting

1198%

2.3

1822

Elanex

154%

9.2

1951

Universal Language Service

138%

6.8

2095

Language Training Center

125%

2.7

2100

Global Language Solutions

124%

9.5

2179

CyraCom International

118%

43.7

2727

U.S. Translation Company

85%

2.4

2958

Geneva Worldwide

74%

7.7

3243

WeLocalize

62%

81.2

3580

CETRA Language Solutions

51%

4.1

3632

Language Services Associates

49%

26.0

3636

adaQuest

49%

6.2

3687

TransPerfect

47%

300.3

3772

1-Stop Translation USA

44%

2.2

3850

Para-Plus Translations

41%

2.3

3974

Dynamic Language

37%

8.3

4492

LinguaLinx

22%

5.0

4741

SignTalk

13%

4.2

4840

West

11%

2500.0

4972

Fluent Language Solutions

6%

5.6


Seven of the companies above made it to Common Sense Advisory’s 2012 ranking of the top 100 LSPs in the world. TransPerfect is #4 on our list; WeLocalize #10; CyraCom International #18; Language Services Associates #29; Elanex #73; Global Language Solutions #75; and Geneva Worldwide is #76.

While both Common Sense Advisory’s and Inc.’s rankings are voluntary, they differ in their approach. We rank LSPs by their annual revenue, while Inc. complies its ranking based on the three-year growth rate of companies.

The fact that LSPs like Geneva Worldwide or Global Language Solutions are way above TransPerfect in Inc.’s rankings shows the potential for growth in the language services industry. What drives the growth of these LSPs? Every business that wants to market, sell, or manufacture internationally needs translation, localization, or interpreting. Every government agency that serves a multicultural population needs those services – not to mention language for commerce, diplomacy, and defense.

Many of Inc.’s other fastest-growing companies, including #1-ranked Unified Payments, already do business in countries other than the U.S. However, they limit their global revenue by requiring European, Canadian, and non-Anglophone U.S. customers to speak English (see “Can’t Read, Won’t Buy: Why Language Matters on Global Websites,” Sep06). Even if they wish to reach more domestic consumers, they’ll still need language services (see “How to Craft a Multicultural Web Strategy,” Sep12). They’ll find that their growth is constrained by English-only websites, marketing materials, and product manuals.

Our finding that websites now need to support a dozen languages to reach 80% of the world’s online population should be good news for LSPs that are stretching for the Inc.-like 20 to 40 to 100% growth rate. At the same time, companies new to buying translation need not be alarmed at the cost of scaling up to so many languages. For the first wave of translation, they can always pick the languages that matter most to their markets and take it from there. Finally, translation really doesn’t cost that much when compared to the revenue it enables (see “Translation Performance Metrics,” Dec11).

Note: This post was updated on September 18, 2012 at 11:45 am EST to add Elanex to both the table and the list of companies included in both the Inc 5000 list and the 2012 Common Sense Advisory revenue-based ranking of the Top 100 LSPs in the world.

 

Post a Comment

Name
Email address :(Your Email Address Will Not Be Displayed)
URL

Your Comments
Enter Code given below :    

Related Research
The Language Services Market: 2012
The Top 100 Language Service Providers
The Top Language Service Providers in North America in 2012
Translation Opportunities in North America
Link To This Page

Bookmark this page using the following link:http://www.commonsenseadvisory.com/Default.aspx?Contenttype=ArticleDetAD&tabID=63&Aid=2942&moduleId=390

Do you have a website? You can place a link to this page by copying and pasting the code below.
Back
Keywords: Interpreting, Localization, Market sizing, Supplier rankings, Translation

  
Refine Your Search
  Date
Skip Navigation Links.
Skip Navigation Links.




 
 
Terms of Use | Privacy Statement | Contact Us
Copyright © 2017 Common Sense Advisory, Inc. All Rights Reserved.