According to the report by Expert Market Research (EMR), the global language services market size reached a value of USD 73.65 billion in 2023. Aided by the increasing demand for effective communication across diverse linguistic backgrounds and the growing need for localisation in various sectors, the market is projected to further grow at a CAGR of 6.5% between 2024 and 2032 to reach a value of USD 129.61 billion by 2032.
Language services encompass a broad range of offerings, including translation, interpretation, localisation, language training, and linguistic consulting. These services are essential in facilitating cross-cultural communication, international business transactions, and the dissemination of information in multiple languages. The demand for language services is rising due to globalisation, the proliferation of digital content, and the need for businesses to cater to diverse linguistic markets.
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One of the key drivers of the market is the growing importance of localisation in various sectors, such as e-commerce, technology, healthcare, and entertainment. Companies are increasingly recognising the need to adapt their products, services, and content to meet the cultural and linguistic preferences of different regions to enhance customer engagement and market penetration, consequently driving the language services market share.
The advent of advanced technologies, such as artificial intelligence (AI) and machine learning, is also revolutionising the language services sector. These technologies are improving the efficiency, accuracy, and speed of translation and interpretation services, enabling real-time communication across languages and reducing the reliance on human translators for certain tasks.
The demand for interpretation services is also on the rise, driven by international events, conferences, and diplomatic meetings. The need for skilled interpreters who can facilitate communication between individuals speaking different languages is crucial in ensuring effective collaboration and understanding.
North America and Europe significantly contributes to the language services market demand, owing to the presence of major multinational corporations, advanced technological infrastructure, and a strong focus on localisation and internationalisation. The United States, United Kingdom, Germany, and France are notable contributors to the market in these regions.
Moreover, the Asia Pacific region is contributing to the language services market expansion, fuelled by economic development, increasing internet penetration, and the rising demand for localised content and services. Countries such as China, Japan, India, and South Korea are key markets in this region.
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Latin America and the Middle East and Africa are emerging markets for language services, with increasing investments in education, healthcare, and technology driving the demand for translation, interpretation, and localization services.
Language Services Market Segmentation
The market can be divided based on service, component, application, and region.
Market Breakup by Service
- Translation Services
- Interpretation Services
- Others
Market Breakup by Component
- Software
- Hardware
Market Breakup by Application
- IT and Telecommunications
- Commercial
- Government
- Automotive
- Healthcare
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global language services market. Some of the major players explored in the report by expert market research are as follows:
- Global Linguist Solutions, LLC
- Hogarth Worldwide
- Keywords Studios Plc
- Teleperformance SE
- Lionbridge Technologies, LLC.
- RWS Holdings PLC
- TransPerfect Legal Solutions Inc.
- Atlas Language Services Inc.
- Semantix AB
- Summa Linguae Technologies
- Others
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