The market for outsourced language services and supporting technology grew 6.62 percent to US$49.60 billion from 2018 to 2019, according to independent market research firm CSA Research. These findings are a result of the firm’s annual study, a comprehensive global survey of private and publicly-traded language service and technology companies. The firm has launched its 16th Annual Global Market Survey, which will gather data on the growth of the industry, providers, and services based on final and verified business results for 2019.
"CSA Research uses trusted, structured, and documented market research methodologies to ensure comprehensive and independent data-driven research for language service providers, technology vendors, global enterprises, and investors," comments Paul O’Mara, Director of Data Products, CSA Research.
The findings, based on a representative sample of the 18,000 language service providers in CSA Research’s database, are part of the firm’s primary research offering. The 16th Annual CSA Research Global Market Study will include rankings of the largest private and public language services and technology providers globally and regionally, market size estimates, the fastest-growing services in the industry, and a breakdown revealing market size estimates for translation services, on-site interpreting, translation technology, machine translation post-editing, video interpreting, game localization, and other related services.
"It is statistically impossible to produce a comprehensive prior-year study at the start of a calendar year, as the number of companies required for a representative sample are still finalizing their year-end financials," adds the firm’s CEO, Tahar Bouhafs. "Our data scientists and research analysts employ the same methodology year-over-year with a focus on verified data to develop a reliable market sizing estimate that allows comparisons over time."
The survey is open to language services and supporting technology companies worldwide. All survey participants will receive:
- Ten Market Facts Every LSP Must Know. This report provides key facts from the firm’s rigorous primary research over the past year.
- The State of the Language Market. This report will provide invaluable insights about the market as it stands in 2020 and where demand is driving it.
The survey is available here.