The global language services market grew at a CAGR of around 6% during 2014-2019. Language services are language assistance solutions that assist in translating, interpreting, transcreation and localizing written, oral, electronic and multi-media materials. It comprises dubbing, voice-over, narrating, desktop publishing and captioning, which are supported by advanced language technology and software. It offers sign language services and customized off-the-shelf foreign language training courses, owing to which it is extensively utilized in the defense sector for performing data analysis and supporting military missions.
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Rapid globalization, in confluence with advancements in telecommunication and information technology (IT), represents one of the key factors impelling the global language services market growth. Moreover, the growing trend of localized content, along with the introduction of computer-assisted translation (CAT) software and translation memory (TM), is driving the market further. Apart from this, language services are increasingly being utilized in the healthcare sector to eliminate the communication gap between health professionals and patients and provide better patient care. This is expected to create a positive outlook for the market in the coming years.
Breakup by Service:
- Translation Services
- Interpretation Services
- Others
Breakup by Component:
- Software
- Hardware
Breakup by Application:
- IT and Telecommunications
- Commercial
- Government
- Automotive
- Healthcare
- Other
Breakup by Region:
- North America
- United States
- Canada
- Europe
- United Kingdom
- Germany
- France
- Sweden
- Russia
- Netherlands
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Others
- Middle East and Africa
- Turkey
- Saudi Arabia
- Iran
- Others
- Latin America
- Brazil
- Mexico
- Others
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Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Global Linguist Solutions, LLC, Hogarth Worldwide, Keywords Studios Plc, LanguageLine Solutions (Teleperformance), Lionbridge Technologies, Inc., Mission Essential Personnel, RWS Holdings plc, SDI Media, SDL plc, and TransPerfect Translations.
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Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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