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Language Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

  • ID: 5401439
  • Report
  • August 2021
  • Region: Global
  • 161 pages
  • IMARC Group

FEATURED COMPANIES

  • Global Linguist Solutions
  • Hogarth Worldwide
  • Keywords Studios Plc
  • LLC
  • RWS Holdings plc
  • SDI Media
  • MORE
The global language services market reached a value of US$ 57.8 Billion in 2020. Looking forward, the publisher expects the market to grow at a CAGR of 7.5% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Language services stand for the set of language assistance solutions that offer varying degrees of interpretation, translation, comprehension, localization, and other training services. They include a wide range of electronic, written, and multimedia materials for transcription, dubbing, narration, voice-over, etc. Language services provide several benefits, such as effective communication, wide geographical outreach, high accuracy rate, skill development, along with offering a highly interactive learning platform to the users. Further, the adoption of these services promotes the integration of technology with human communication. Owing to this, language services are widely employed across diverse sectors, including legal, medical, IT and telecommunication, education, automotive, and BFSI.

The rising demand for language services can be attributed to the rapid advancements in the IT and telecommunication industry leading to software development for accurate translation and interpretation results. In addition to this, rapid globalization coupled with improving internet connectivity has further augmented the growing need for language services. With increasing geographical outreach, various companies are opting for translation services. This provides convenience to their international clients and allows companies to efficiently express their services. Furthermore, the growing consumer inclination towards language services for multilingual and cross-cultural communication to create an efficient and quicker learning platform has also led to its increasing global adoption. Additionally, the rising influence of social media platforms resulting in the popularity of visual translations and content localization, is also driving the demand. Apart from this, the increasing investments in the field of language services coupled with the rapid influx of translation and interpretation outsourcing have also contributed to the strong market growth. Moreover, the increasing need for language services pertaining to international business tourism, medical tourism, leisure tourism, on-site work stays, etc., is also catalyzing the market. In the educational sector, customized foreign language training courses are being offered at on-site and off-site locations in classroom, private, semi-private, tutorial, and in-country immersion forums, thereby driving the demand for language services. In the coming years, several technological upgradations along with the emergence of artificial intelligence in the sector are expected to fuel the growth of the global language service market.

Breakup by Service:

  • Translation Services
  • Interpretation Services
  • Others

Breakup by Component:

  • Software
  • Hardware

Breakup by Application:

  • IT and Telecommunications
  • Commercial
  • Government
  • Automotive
  • Healthcare
  • Other

Breakup by Region:

  • North America
  • United States
  • Canada
  • Europe
  • United Kingdom
  • Germany
  • France
  • Sweden
  • Russia
  • Netherlands
  • Others
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Others
  • Middle East and Africa
  • Turkey
  • Saudi Arabia
  • Iran
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Global Linguist Solutions, LLC, Hogarth Worldwide, Keywords Studios Plc, LanguageLine Solutions (Teleperformance), Lionbridge Technologies, Inc., Mission Essential Personnel, RWS Holdings plc, SDI Media, SDL plc, and TransPerfect Translations.

Key Questions Answered in This Report:

  • How has the global language services market performed so far and how will it perform in the coming years?
  • What are the key regional markets?
  • What has been the impact of COVID-19 on the global language services market?
  • What is the breakup of the market based on the service?
  • What is the breakup of the market based on the component?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the market?
  • What is the structure of the global language services market and who are the key players?
  • What is the degree of competition in the market?
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Global Linguist Solutions
  • Hogarth Worldwide
  • Keywords Studios Plc
  • LLC
  • RWS Holdings plc
  • SDI Media
  • MORE
1 Preface

2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 Executive Summary

4 Introduction
4.1 Overview
4.2 Key Industry Trends

5 Global Language Services Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of Covid-19
5.4 Market Forecast

6 Market Breakup by Service
6.1 Translation Services
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Interpretation Services
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Others
6.3.1 Market Trends
6.3.2 Market Forecast

7 Market Breakup by Component
7.1 Software
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Hardware
7.2.1 Market Trends
7.2.2 Market Forecast

8 Market Breakup by Application
8.1 IT and Telecommunications
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Commercial
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Government
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Automotive
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Healthcare
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Others
8.6.1 Market Trends
8.6.2 Market Forecast

9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Europe
9.2.1 United Kingdom
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Germany
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 France
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 Sweden
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Russia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Netherlands
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Asia Pacific
9.3.1 China
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 Japan
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 India
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 South Korea
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Australia
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Others
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.4 Middle East and Africa
9.4.1 Turkey
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Saudi Arabia
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Iran
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.4.4 Others
9.4.4.1 Market Trends
9.4.4.2 Market Forecast
9.5 Latin America
9.5.1 Brazil
9.5.1.1 Market Trends
9.5.1.2 Market Forecast
9.5.2 Mexico
9.5.2.1 Market Trends
9.5.2.2 Market Forecast
9.5.3 Others
9.5.3.1 Market Trends
9.5.3.2 Market Forecast

10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats

11 Value Chain Analysis

12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes

13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
13.3.1 Global Linguist Solutions, LLC
13.3.1.1 Company Overview
13.3.1.2 Product Portfolio
13.3.1.3 Financials
13.3.1.4 SWOT Analysis
13.3.2 Hogarth Worldwide
13.3.2.1 Company Overview
13.3.2.2 Product Portfolio
13.3.2.3 Financials
13.3.2.4 SWOT Analysis
13.3.3 Keywords Studios plc
13.3.3.1 Company Overview
13.3.3.2 Product Portfolio
13.3.3.3 Financials
13.3.3.4 SWOT Analysis
13.3.4 LanguageLine Solutions (Teleperformance)
13.3.4.1 Company Overview
13.3.4.2 Product Portfolio
13.3.4.3 Financials
13.3.4.4 SWOT Analysis
13.3.5 Lionbridge Technologies
13.3.5.1 Company Overview
13.3.5.2 Product Portfolio
13.3.5.3 Financials
13.3.5.4 SWOT Analysis
13.3.6 Mission Essential Personnel
13.3.6.1 Company Overview
13.3.6.2 Product Portfolio
13.3.6.3 Financials
13.3.6.4 SWOT Analysis
13.3.7 RWS Holdings plc
13.3.7.1 Company Overview
13.3.7.2 Product Portfolio
13.3.7.3 Financials
13.3.7.4 SWOT Analysis
13.3.8 SDI Media Group Inc.
13.3.8.1 Company Overview
13.3.8.2 Product Portfolio
13.3.8.3 Financials
13.3.8.4 SWOT Analysis
13.3.9 SDL plc
13.3.9.1 Company Overview
13.3.9.2 Product Portfolio
13.3.9.3 Financials
13.3.9.4 SWOT Analysis
13.3.10 TransPerfect Solutions
13.3.10.1 Company Overview
13.3.10.2 Product Portfolio
13.3.10.3 Financials
13.3.10.4 SWOT Analysis

List of Figures
Figure 1: Global: Language Services Market: Key Trends
Figure 2: Global: Language Services Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Language Services Market: Breakup by Service (in %), 2020
Figure 4: Global: Language Services Market: Breakup by Component (in %), 2020
Figure 5: Global: Language Services Market: Breakup by Application (in %), 2020
Figure 6: Global: Language Services Market: Breakup by Region (in %), 2020
Figure 7: Global: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 8: Global: Language Services (Translation) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 9: Global: Language Services (Translation) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 10: Global: Language Services (Interpretation) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 11: Global: Language Services (Interpretation) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 12: Global: Language Services (Other Services) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 13: Global: Language Services (Other Services) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 14: Global: Language Services (Software) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 15: Global: Language Services (Software) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 16: Global: Language Services (Hardware) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 17: Global: Language Service (Hardware) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 18: Global: Language Services (IT and Communications) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 19: Global: Language Services (IT and Communications) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 20: Global: Language Services (Commercial) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 21: Global: Language Services (Commercial) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 22: Global: Language Services (Government) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 23: Global: Language Services (Government) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 24: Global: Language Services (Automotive) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 25: Global: Language Services (Automotive) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 26: Global: Language Services (Healthcare) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 27: Global: Language Services (Healthcare) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 28: Global: Language Services (Other Applications) Market: Sales Value (in Billion US$), 2015 & 2020
Figure 29: Global: Language Services (Other Applications) Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 30: North America: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 31: North America: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 32: United States: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 33: United States: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 34: Canada: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 35: Canada: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 36: Europe: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 37: Europe: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 38: United Kingdom: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 39: United Kingdom: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 40: Germany: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 41: Germany: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 42: France: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 43: France: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 44: Sweden: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 45: Sweden: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 46: Russia: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 47: Russia: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 48: Netherlands: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 49: Netherlands: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 50: Others: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 51: Others: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 52: Asia Pacific: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 53: Asia Pacific: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 54: China: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 55: China: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 56: Japan: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 57: Japan: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 58: India: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 59: India: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 60: South Korea: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 61: South Korea: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 62: Australia: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 63: Australia: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 64: Others: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 65: Others: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 66: Middle East and Africa: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 67: Middle East and Africa: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 68: Turkey: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 69: Turkey: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 70: Saudi Arabia: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 71: Saudi Arabia: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 72: Iran: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 73: Iran: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 74: Others: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 75: Others: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 76: Latin America: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 77: Latin America: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 78: Brazil: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 79: Brazil: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 80: Mexico: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 81: Mexico: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 82: Others: Language Services Market: Sales Value (in Billion US$), 2015 & 2020
Figure 83: Others: Language Services Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 84: Global: Language Services Industry: SWOT Analysis
Figure 85: Global: Language Services Industry: Value Chain Analysis
Figure 86: Global: Language Services Industry: Porter’s Five Forces Analysis

List of Tables
Table 1: Global: Language Services Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Language Services Market Forecast: Breakup by Service (in Billion US$), 2021-2026
Table 3: Global: Language Services Market Forecast: Breakup by Component (in Billion US$), 2021-2026
Table 4: Global: Language Services Market Forecast: Breakup by Application (in Billion US$), 2021-2026
Table 5: Global: Language Services Market Forecast: Breakup by Region (in Billion US$), 2021-2026
Table 6: Global: Language Services Market: Competitive Structure
Table 7: Global: Language Services Market: Key Players
Note: Product cover images may vary from those shown
  • Global Linguist Solutions
  • LLC
  • Hogarth Worldwide
  • Keywords Studios Plc
  • LanguageLine Solutions (Teleperformance)
  • Lionbridge Technologies Inc.
  • Mission Essential Personnel
  • RWS Holdings plc
  • SDI Media
  • SDL plc
  • TransPerfect Translations
Note: Product cover images may vary from those shown

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