Global Language Services Market Report and Forecast 2024-2032

Global Language Services Market Outlook

The global language services market size reached a value of about USD 73.65 billion in 2023. The market is projected to grow at a CAGR of 6.5% between 2024 and 2032, reaching an approximate value of USD 129.61 billion by 2032.

Key Trends in the Market

The phrase "language service" commonly encompasses a variety of services centred around language-related tasks. These services aim to aid communication and promote comprehension between individuals who speak different languages. These services can be used in various forms, including translation, interpretation, and language training and teaching, among others.

• The increasing globalisation of businesses and the growth of international trade have been major factors fueling the language services market demand. Companies are expanding their operations into new markets, due to which they require translation and localisation services to effectively communicate with their target audiences.

• The digital revolution has transformed the market for language services. With companies rapidly expanding their reach to different countries and communities through social media platforms, e-commerce, and other digital platforms, the need for proper communication becomes essential. This has created a surge in the demand for translation and localisation services to adapt content to different languages and cultures.

• Advancements in translation and language processing technologies are another key factors aiding the growth of the market. Machine translation, neural networks, natural language processing (NLP), and artificial intelligence (AI) have improved the efficiency and accuracy of language services. The global language services market demand is expected to grow as such services become more accessible and cost friendly.

Market Analysis

Based on service, the market is segmented into translation services and interpretation services, among others. On the basis of component, the market can be bifurcated into software and hardware. The market, based on application, is segmented into IT and telecommunications, commercial, government, automotive, and healthcare, among others. The major regional markets for language services are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global language services market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans.

• 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

Market Share by Service

Translation services are expected to hold a considerable position in the market owing to increasing demand for multilingual content and the inclusion of different languages in websites. Translation is the intricate process of converting written or spoken content from one language to another, enabling effective communication across cultures and languages. It involves the meticulous transfer of meaning, tone, and context while maintaining accuracy and coherence in the target language.

Market Share by Region

North America is likely to hold a significant position in the global language services market share. The market in North America is growing rapidly due to the growing diversity in the region, increasing the need for effective language services. In addition, the significance of multicultural marketing has grown, leading to an increase in the demand for language services and qualified translators and interpreters to serve the diverse population.

Competitive Landscape

Global Linguist Solutions, LLC was established in 2006 as a collaborative effort between DynCorp International and McNeil Technologies. Its core purpose is centred around delivering linguist and translation services to the United States military through the U.S. Army's Worldwide Linguist Support contract. With a primary emphasis on language support, GLS played a vital role in aiding the U.S. military across different operational areas.

Hogarth Worldwide was established in 2008 and has emerged as a prominent global marketing implementation agency. It specialises in delivering an array of creative production and adaptation services to brands and advertising agencies. With its expansive growth, Hogarth has positioned itself as one of the largest marketing implementation agencies and one of the key players in the global language services market. The company provides various services, including video production, post-production, adaptation, localisation, transcreation, digital asset management, and campaign implementation.

Keywords Studios Plc is one the leading global technology services provider for the video gaming sector. It offers a diverse array of services that aid in the development and publishing of video games. The company, established in 1998, has successfully expanded its operations to provide services across various aspects of game development. These encompass localisation and translation, audio production, art design and creation, functionality testing, player support, and game engineering.

Other market players include Teleperformance SE, Lionbridge Technologies, LLC., RWS Holdings PLC, TransPerfect Legal Solutions Inc., Atlas Language Services Inc., Semantix AB, and Summa Linguae Technologies, among others.

Key Highlights of the Report