Melbourne, Australia, February 17, 2010 --(PR.com
)-- Language Connect, the market leader in the provision of language services to the market research industry, today announced an upsurge in foreign language requirements for market research companies.
In 2009 Language Connect saw a 102% increase in international market research clients which equated to a 79% rise in revenues. The growing demand for professional translation, simultaneous interpreting and verbatim coding services was driven by online survey, poll and opinion providers conducting cross-border studies for global brands. Combined with growth in other sectors, Language Connect has ridden out the recession and was recently named as one of the Top 5 fastest growing companies by a Plimsoll Report on the translation services industry, having achieved 56% sales growth compared to an 8% industry average.
Language Connect stated that the top five in-demand languages for the market research industry in 2009 were French, German and Spanish closely followed by Japanese and Simplified Chinese. “The trends we are seeing indicate that Japanese and Simplified Chinese (used in mainland China) are growing quicker than European languages, which is not surprising given recent global economics plus the fact that Asian markets represent huge gains for companies that get it right. So in 2010 it is very likely that Japanese, Simplified Chinese and possibly Korean could overtake some European languages”, commented Ben Taylor, Managing Partner at Language Connect.
Five recent strategic client wins in the market research sector indicate that 2010 could outperform 2009 for Language Connect which also echoes the growth trends being experienced in the on-line market research industry.
The impressive foreign language growth trends of online surveys, polls and opinion groups can be attributed to the ease of access, rapid distribution across geographies and a relatively low-cost base when compared to traditional field-based studies or focus groups. Another attraction for major retailers and global brands is that online polls and opinion-based panels give instant access to powerful back-end analytics so multilingual data can be captured, interpreted and acted upon much quicker than ever before. In turn, these dynamics are fuelling high demand for verbatim coding of open-ended multilingual responses.
Language Connect has strengthened its commitment to serving market research clients by recently opening its second international office in Melbourne, Australia. The company has an existing presence in Munich, Germany in addition to its headquarters in London. Ben Taylor went on to say, “The global requirements of market research companies, led by poll and opinion providers, are dictating where we expand our office network and are becoming increasingly important in helping us evolve and align our service portfolio with value-added offerings such as localisation consulting and multilingual verbatim coding”.
A final trend within the market research sector that Language Connect identified is a move towards centralised purchasing and management of language services. Ben Taylor attributed this to a growing level of ‘localisation maturity’ amongst forward-thinking market research agencies. “We are working with our key clients to help them leverage the entire content value chain through a best practice approach to centralised authoring, publishing, translation and results compilation and interpretation to fully maximise time and money”, he said. About 20% of the market research clients Language Connect serves are taking these necessary steps.
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