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Translation Services in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Translation Services Market Research Report | NAICS 54193 | Apr 2016

In plain language: Increasing globalization and expansion overseas will drive demand

IBISWorld’s Translation Services market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$5bn
Annual Growth 11-16
0.6%
Annual Growth 16-21
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Profit
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Employment
75,835
Businesses
54,599
Industry Analysis & Industry Trends

Despite the turbulent economy, the Translation Services industry has performed well over the past five years. As non-native English speakers came to the United States and companies took products overseas, demand for translation services was driven upward. Though industry clients will continue to be price-, service- and quality- conscious, globalization and an increase in immigration will boost demand for industry services over the five years to 2021... purchase to read more

Industry Report - Industry SWOT Analysis Chapter

The Translation Services industry is in the growth phase of its life cycle. Over the 10 years to 2021, IBISWorld expects that the industry's value added (IVA), which measures its overall contribution to the economy, will increase at an average annual rate of 5.3%. This represents significantly faster growth than US GDP, which is forecast to grow at an annualized rate of 2.3% during the same period.

Since the 1990s, the internet has provided a platform for growth and many industry operators have built tools to capitalize on its possibilities. Furthermore, growth has received a boost from increasing immigration to the US from Latin American and Asian countries... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

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, which is the translation of website information into languages for use in other countries, taking into account any unique cultural and linguistic traits.

Industry Products
Written translation servicesInterpretation services
 
Industry Activities
Language interpretation servicesTranslation language servicesSign language servicesSpeech (i.e. language) interpretation services


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