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