Language Services Market Scope
Language service provides translation of written, electronic & multimedia material component to and from English language and native foreign language. Increasing number of trade and business activities has forced organisation to understand their customers’ language, trends and culture in better way. This has led to the demand for language service providers across the world. Numerous language service providing companies provide a suite of services from document translation, website localization and multilingual court reporting to oral interpretation. As a result of growing demand from end-users, language service providers include many services in their offerings in the upcoming years. According to AMA, the Global Language Services market is expected to see growth rate of 5.8%
Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Language Services market throughout the predicted period.
Euroscript (United Kingdom), HP (United States), Lionbridge (United States), SDL (United Kingdom), Star AG (Switzerland), CLS Communication (Switzerland), Honyaku center (Japan), ManpowerGroup Solution (United States), RWS Moravia (Czech Republic), thebigword Group (United Kingdom) and Yamagata Intech (Japan) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are TransPerfect (United States), SDI Media (United States), Pactera Technology International (China) and Ubiqus (France).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
The study have segmented the market of Global Language Services market by Type (Written Translation Services, Interpretation Services and Others), by Application (Legal, Medical, Tourism & Travel, BFSI and Others) and Region with country level break-up.
On the basis of geography, the market of Language Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In Feb 2018, Leading language service company Translationz has been invited onto the Federal Government Digital Services Panel which supplies more than 60 Federal Government departments., and In Nov 2019, Translation and language services provider Language Insight has announced that they will be sponsoring the non-profit organization Translators Without Borders for a second consecutive year. Translators Without Borders support humanitarian and development agencies as well as other non-profit charities by giving them access to translation and language services on a global scale.
- Increasing Usage of the Concept of Transcreation Tools to Interact with and Attract the Target Audience
- Growing Demand for Visual Translations and Localized Content
- Surging Adoption of Mobile Translation Services
- Surging Technology Adoption to Enhance Language Translation Process Efficiency
- Increasing Demand for CAT Software to Translate from One Language to Another Language Using Translation Memory (TM)
- Rapid Growth of Webinars Videos Worldwide
- Increasing Tourism Industry in Developing Economies
- Surging Demand of Languages Services Corporate Organizations to Convey Visual and Audio Content
- Availability of Open Source Language Service Tools
- Lack of Awareness and Dearth of Skilled Professionals in Developing Economies
Key Target AudienceLanguage Services Providers, Technology Providers, End Users and Others