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Scope of the Report:The report entitled “Global Language Service Market: Size, Trends & Forecasts (2019-2023)”, provides analysis of the global language service market, with detailed analysis of market size and growth, and segmentation of the industry. The analysis includes the market by value, by growth rate, and by segmentation.
Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global language service market has also been forecasted for the years 2019-2023, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
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TransPerfect, Lionbridge, LanguageLine Solutions and RWS Holding are some of the key players operating in the global language service market, whose company profiling has been done in the report. In this segment of the report, business overview, financial overview and business strategies of the companies are provided.
Company Coverage:
TransPerfect
Lionbridge
LanguageLine Solutions
RWS Holding
Executive Summary:
Language service industry provides all the translations for different types of businesses such as healthcare, legal, information technology, etc. With increase in globalization, many organization are aiming to expand to as many country. The major challenge during such expansions are the difference in communications. In order to connect to the local people, such organization require language translation provider.
There are many segments which falls under language service industry such as translations, editing for authors, language interpretation, language education, computer assisted translations, terminology extractions, language localization, software localization and machine translations. Also, language service providers are of different infrastructure, such as, freelancers (one who translates and edits and proofreads), Single-Language Vendor (offering a wide range of translation services into one language) and Multiple-Language Vendor (a company which offer a wide range of translation services into multiple languages, enabling its clients to concentrate all of their translation requests with one vendor)
There are many benefits when contracting with a small-scale language service provider such as comfort level by building a healthy relationship, translating capability, availability of subject matter experts, linguistic capabilities, etc. But for big organizations there are four major elements which are to be checked before finalizing the language service provider. These are operational security and reliability, interpreter quality, visibility and infrastructure.
The global language service market is expected to increase at high growth rates during the forecasted period (2019-2023). The global language service market is supported by various growth drivers, such as increasing globalization, growing e-commerce, increasing online and offline content volume, etc. Yet, the market faces certain challenges, such as, data security, getting mobile application and social media savvy, etc. Few new market trends are also provided such as, importance of video translation, demand for neural machine translation tools, etc.
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Table of Content:
1. Executive Summary
2. Introduction
2.1 Language Service Industry: An Overview
2.1.1 Language Service Industry: Meaning
2.1.2 Segments of Language Service
2.1.3 Language Service Provider in Terms of Structure
2.1.4 Benefits of Working with a Small-Scale Language Service Provider
2.1.5 Elements Required for Selection of a Language Services Provider
2.1.6 End-Users of Language Services
3. Market Sizing
3.1 Global Language Service Market: An Analysis
3.1.1 Global Language Service Market by Value
3.1.2 Global Language Service Market by Growth Rate
3.1.3 Global Top 100 Language Service Companies by Region
3.2 Global Language Service Market: Segment Analysis
3.2.1 Global Language Service Market by Segment (Translation and transcreation, Interpreting, Localization services & Other services)
3.2.2 Global Translation, Localization and Transcreation Market
3.2.3 Global Interpreting and Other Language Services
3.3 Global Language Service Market: Regional Analysis
3.3.1 Global Language Service Market by Region (EMEA (Europe, Middle East and Africa) and America & Asia-Pacific)
3.3.2 European Language Service Companies by Sales Volume
3.3.3 European Language Service Companies by Vertical
4. Market Dynamics
4.1 Growth Drivrs
4.1.1 Increasing Globalization
4.1.2 Growing E-Commerce
4.1.3 Increasing Online and Offline Content Volume
4.1.4 Emergence of new markets with specific language requirements
4.1.5 Growing Demand for CAT Software
4.1.6 Rising Regulatory Translations
4.2 Challenges
4.2.1 Data Security
4.2.2 High Pricing Pressure
4.2.3 Getting Mobile Application and Social Media Savvy
4.3 Market Trends
4.3.1 Importance of Video Translation
4.3.2 Demand for Neural Machine Translation Tools
4.3.3 Subtitling, Dubbing, Captioning and Voice-Over
4.3.4 More Relevant ISO Certification
5. Competitive Landscape
5.1 Global Language Service Market: Competitive Landscape
5.1.1 Global Language Service Market by Top 100 Player Share
5.1.2 Global Language Service Market by Top 20 Player
6. Company Profiling
6.1 TransPerfect
6.1.1 Business Overview
6.1.2 Business Strategy
6.2 Lionbridge
6.2.1 Business Overview
6.2.2 Business Strategy
6.3 LanguageLine Solutions
6.3.1 Business Overview
6.3.2 Business Strategy
6.4 RWS Holding
6.4.1 Business Overview
6.4.2 Financial Overview
6.4.3 Business Strategy
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