Market Overview:
The global language services market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The market growth is attributed to the increasing demand for language services across different industry verticals, such as healthcare, ICT, BFSI, government and others. The translation segment is expected to hold the largest share of the global language services market in 2018. However, the interpreting segment is projected to grow at a higher CAGR during the forecast period. North America accounted for the largest share of the global language services market in 2017 and it is expected to maintain its dominance during the forecast period.
Product Definition:
Language services are the provision of interpretation, translation and other language-related services. They are important because they allow people to communicate with each other when they do not share a common language.
Translation:
The global language services market size was valued at USD 4,65 billion in 2015 and is expected to grow at a CAGR of XX% over the forecast period. The industry has been witnessing tremendous growth owing to increasing globalization and rising number of multilingual people across the globe.
Interpreting:
Interpreting is a service where the speaker of one language meets with the speaker of another language and they interpret each other's words. It is an important aspect of Language Services as it helps in communication between people who do not understand each other’s languages. Interpreters are also used for translating websites, signs, documents and menus into various languages.
The global interpreting market size was valued at USD 10,867 million in 2016.
Application Insights:
The application segment is segregated into seven sub-segments, namely healthcare, ICT, BFSI, government and education sectors and others. The global language services market by the healthcare sub-segment accounted for a revenue share of over 20% in 2017. This can be attributed to the rising demand from various industries such as pharmaceuticals and medical devices where there is an increasing need for translation of technical manuals & procedures among other languages.
The use of interpreters has been mandatory in all meetings or discussions held at European level concerning matters related to health & safety at work places or during environmental protection activities such as mountaineering etc., since 1992 under the auspices of ECSA (European Commission Standing Committee on Agriculture). Such initiatives are expected to further fuel growth over next few years.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing investments in developing online translation and subtitling tools, coupled with growing adoption of emerging technologies across various industries in countries such as China, Japan, and India. Increasing demand for foreign language education by institutes will also contribute towards market growth over the next eight years.
Europe is estimated to account for a significant share of global revenue throughout the forecast period owing to high demand from several major industry verticals including healthcare and IT & telecom sectors. North America region is projected to witness steady growth due to presence of numerous service providers offering their services through online platforms rather than on-premise installations.
Growth Factors:
- Increasing demand for language services from the corporate sector as companies expand their operations to new geographies.
- Rapid growth in the tourism industry, which is fuelling demand for translation and interpretation services.
- The increasing use of foreign languages in social media and digital content, which is driving demand for language localization services.
- The growing popularity of bilingual education programs across the world, which is boosting demand for language learning software and services.
- The increasing number of refugees and immigrants worldwide, who need access to translation and interpretation services to facilitate communication
Scope Of The Report
Report Attributes
Report Details
Report Title
Language Services Market Research Report
By Type
Translation, Interpreting, Subtitling, Others
By Application
Healthcare, ICT, BFSI, Government, Others
By Companies
Lionbridge, Mayflower Language Services, RWS Group, SDL Language Services, Semantix, Teleperformance, TransPerfect, Welocalize
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
167
Number of Tables & Figures
117
Customization Available
Yes, the report can be customized as per your need.
Global Language Services Market Report Segments:
The global Language Services market is segmented on the basis of:
Types
Translation, Interpreting, Subtitling, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Healthcare, ICT, BFSI, Government, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Lionbridge
- Mayflower Language Services
- RWS Group
- SDL Language Services
- Semantix
- Teleperformance
- TransPerfect
- Welocalize
Highlights of The Language Services Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Translation
- Interpreting
- Subtitling
- Others
- By Application:
- Healthcare
- ICT
- BFSI
- Government
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Language Services Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Language Services is a program that provides language assistance to individuals who are deaf or hard of hearing. The program offers sign language interpreters, transcription services, and translation services.
Some of the major players in the language services market are Lionbridge, Mayflower Language Services, RWS Group, SDL Language Services, Semantix, Teleperformance, TransPerfect, Welocalize.
The language services market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Language Services Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Language Services Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Language Services Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Language Services Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Language Services Market Size & Forecast, 2018-2028
4.5.1 Language Services Market Size and Y-o-Y Growth
4.5.2 Language Services Market Absolute $ Opportunity
Chapter 5 Global Language Services Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Language Services Market Size Forecast by Type
5.2.1 Translation
5.2.2 Interpreting
5.2.3 Subtitling
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Language Services Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Language Services Market Size Forecast by Applications
6.2.1 Healthcare
6.2.2 ICT
6.2.3 BFSI
6.2.4 Government
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Language Services Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Language Services Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Language Services Analysis and Forecast
9.1 Introduction
9.2 North America Language Services Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Language Services Market Size Forecast by Type
9.6.1 Translation
9.6.2 Interpreting
9.6.3 Subtitling
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Language Services Market Size Forecast by Applications
9.10.1 Healthcare
9.10.2 ICT
9.10.3 BFSI
9.10.4 Government
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Language Services Analysis and Forecast
10.1 Introduction
10.2 Europe Language Services Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Language Services Market Size Forecast by Type
10.6.1 Translation
10.6.2 Interpreting
10.6.3 Subtitling
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Language Services Market Size Forecast by Applications
10.10.1 Healthcare
10.10.2 ICT
10.10.3 BFSI
10.10.4 Government
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Language Services Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Language Services Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Language Services Market Size Forecast by Type
11.6.1 Translation
11.6.2 Interpreting
11.6.3 Subtitling
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Language Services Market Size Forecast by Applications
11.10.1 Healthcare
11.10.2 ICT
11.10.3 BFSI
11.10.4 Government
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Language Services Analysis and Forecast
12.1 Introduction
12.2 Latin America Language Services Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Language Services Market Size Forecast by Type
12.6.1 Translation
12.6.2 Interpreting
12.6.3 Subtitling
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Language Services Market Size Forecast by Applications
12.10.1 Healthcare
12.10.2 ICT
12.10.3 BFSI
12.10.4 Government
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Language Services Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Language Services Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Language Services Market Size Forecast by Type
13.6.1 Translation
13.6.2 Interpreting
13.6.3 Subtitling
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Language Services Market Size Forecast by Applications
13.10.1 Healthcare
13.10.2 ICT
13.10.3 BFSI
13.10.4 Government
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Language Services Market: Competitive Dashboard
14.2 Global Language Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Lionbridge
14.3.2 Mayflower Language Services
14.3.3 RWS Group
14.3.4 SDL Language Services
14.3.5 Semantix
14.3.6 Teleperformance
14.3.7 TransPerfect
14.3.8 Welocalize
