Translating to revenue: Increasing globalization and expansion overseas will drive demand
IBISWorld’s Translation Services market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.
Industry Statistics & Market Size
Annual Growth 07-12
Annual Growth 12-17
Industry Analysis & Industry Trends
Internet translates to revenue
This industry translates has experienced growth, despite the turbulent economy over the last five years. As non-native English speakers came to the United States and companies took products overseas the need for translation services was driven upward. Industry clients will continue to be price, service and quality conscious. Globalization and an increase in immigration will keep the industry in demand for the coming years... purchase to read more
Industry Report - Industry Key Buyers Chapter
IBISWorld estimates that the four largest players in this industry have a combined market share of about 25.0% in 2012. Additionally, the majority of firms in this industry are sole proprietors, many of which operate on a part-time basis. About 95.4% of industry firms are sole proprietors and 72.6% of workers are self-employed. Due to the large proportion of sole proprietors in this industry, the number of industry offices increases at a rate very close to that of the number of firms operating in the industry. Among the firms that have paid employees, some 80.4% have fewer than five employees and 89.0% have fewer than ten. These factors indicate that the Translation Services industry has a low level of concentration... purchase to read more
What is the Translation Services Industry?
This industry includes companies that translate written material and interpret speech from one language to another. It also includes companies that provide sign language services. The services provided by this industry include document translation and website localization, meaning translation of website information into languages for use in other countries, taking into account any unique cultural and linguistic traits.
Written translation servicesInterpretation services
Language interpretation servicesTranslation language servicesSign language servicesSpeech (i.e. language) interpretation services