Boston, MA, June 03, 2012 --(PR.com
)-- The global market for outsourced language services and technology will reach US$33.523 billion in 2012, according to a study by independent market research firm Common Sense Advisory. In its annual industry research report, “Language Services Market 2012,” the firm details the findings of its comprehensive study, identifying 26,104 unique suppliers of translation and interpreting services across 154 countries.
The firm, which has published market size estimates and global rankings for the past seven years, found that the demand for language services continues, and is growing at an annual rate of 12.17%. Global trade, international business, and content growth are three critical drivers for the language services industry. This year, the research firm expands its list of top language services providers to 100 global companies (www.commonsenseadvisory.com/AbstractView.aspx?ArticleID=2877).
As part of the study, the firm surveyed more than 1,000 language service providers to collect actual reported revenue for 2010, 2011, and expected revenue for 2012.
“Language service providers in most regions of the world reported steady growth during fiscal year 2011, and their projected growth rates for 2012 are even stronger,” explained Nataly Kelly, Common Sense Advisory’s Chief Research Officer. “The widespread availability of online machine translation has not decreased the demand for high-quality human translation. If anything, translation technologies appear to be acting as a catalyst to generate more demand.”
The 10 highest-ranked companies on the list of the Top 100 language services companies, listed according to 2011 revenues, are Mission Essential Personnel ($725.50 million), Lionbridge Technologies ($427.86 million), Hewlett-Packard's Application and Content Globalization group (US$418.00 million), TransPerfect/Translations.com ($300.6 million), SDL ($282.85 million), STAR Group ($149.00 million), euroscript International ($133.71 million), Manpower Group ($113.00 million), RWS Holdings (US$105.06 million), and Welocalize (US$82.20 million).
Included within the report are:
- Current market size estimates for the language services industry along with a detailed description of the research methodology
- Projected growth rates for the industry through 2015, including region-specific breakdowns
- Rankings of the Top 100 global market leaders
- Twelve pages of critical benchmarks for language service provider financial performance, including average revenue per employee, average revenue per salesperson, and average revenue per project manager, including differences by company size and geography
- Regional rankings of the largest translation and interpreting companies in Africa, Asia, Eastern Europe, Latin America, North America, Northern Europe, Southern Europe, Western Europe, and, new this year, Oceania
- Reporting on the fastest-growing services in the industry, such as transcreation, internationalization, telephone interpreting, and other offerings
- Breakdown of the market revealing market size estimates for on-site interpreting, translation technology, machine translation post-editing, video interpreting, multimedia localization, and other services
Information on how to purchase the full report is available at http://www.commonsenseadvisory.com.
About Common Sense Advisory
Common Sense Advisory is an independent market research company helping companies profitably grow their international businesses and gain access to new markets and new customers. Its focus is on assisting its clients to operationalize, benchmark, optimize, and innovate industry best practices in translation, localization, interpreting, globalization, and internationalization. For more information, visit: http://www.commonsenseadvisory.com or www.twitter.com/CSA_Research.