PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1629664
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1629664
Language Services Market, By Service, By End-user Industry, By Mode,By Geography
Global language services market is estimated to be valued at USD 72.31 Bn in 2024. It is expected to reach USD 130.41 Bn by 2031, growing at a compound annual growth rate (CAGR) of 8.8% from 2024 to 2031.
| Report Coverage | Report Details | ||
|---|---|---|---|
| Base Year: | 2023 | Market Size in 2024: | US$ 72.31 Bn |
| Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
| Forecast Period 2024 to 2031 CAGR: | 8.80% | 2031 Value Projection: | US$ 130.41 Bn |
The global language services market is projected to grow significantly in the coming years. As globalization increases interconnectivity across the world, the need for effective communication across languages has grown exponentially. Various organizations operate across geographies and require translation, interpreting and localization services to cater to a multilingual customer and employee base. Advancements in machine translation and artificial intelligence are also facilitating the growth of the language services industry. Growing demand from the e-commerce, tourism, healthcare and automotive industries will continue to drive the language services market during the forecast period.
Market Dynamics
The key drivers fueling the language services market include rapid globalization leading to expansion of multinational companies, increasing demand for content localization, and advances in machine learning and artificial intelligence for language translation. However, high costs associated with translation, localization and interpreting services and concerns around data privacy are some of the factors hindering the market growth. The rising adoption of hybrid human-machine models presents a major opportunity for market players. Integration of AI and ML capabilities can help reduce costs and enhance quality and speed of language services. Growing e-commerce across emerging markets also opens new avenues for language service providers.
Key features of the study:
This report provides in-depth analysis of the global language services market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global language services market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include RWS, LanguageLine Solutions, Appen, translate plus, lyuno-SDI Group, Acolad Group, Welocalize, Hogarth Worldwide, STAR Group, Pactera Edge, Pixelogic Media, Cyracom International, AMN Language Services, Translation Bureau, Honyaku Center
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global language services market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global language services market.
Market Segmentation
- By Service Insights (Revenue, USD Bn, 2019 - 2031)
- Interpretation
- Translation
- Localization
- Transcreation
- Language Testing
- Subtitling
- Others
- By End-user Industry Insights (Revenue, USD Bn, 2019 - 2031)
- BFSI
- Gaming
- Media
- Engineering & Manufacturing
- Aerospace & Defense
- Others
- By Mode Insights (Revenue, USD Bn, 2019 - 2031)
- Online
- Offline
- Regional Insights (Revenue, USD Bn, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
- Key Players Insights
- RWS
- LanguageLine Solutions
- Appen
- translate plus
- lyuno-SDI Group
- Acolad Group
- Welocalize
- Hogarth Worldwide
- STAR Group
- Pactera Edge
- Pixelogic Media
- Cyracom International
- AMN Language Services
- Translation Bureau
- Honyaku Center
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Language Services Market, By Service
- Language Services Market, By End-user Industry
- Language Services Market, By Mode
- Language Services Market, By Region
3. Market Dynamics, Regulations, And Trends Analysis
- Market Dynamics
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product Launches/Approvals
- PEST Analysis
- PORTER's Analysis
- Merger and Acquisition Scenario
- Industry Trends
4. Language Services Market, By Service, 2024-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Interpretation
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Translation
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Localization
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Transcreation
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Language Testing
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Subtitling
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
5. Language Services Market, By End-user Industry, 2024-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- BFSI
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Gaming
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Media
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Engineering & Manufacturing
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Aerospace & Defense
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
6. Language Services Market, By Mode, 2024-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Online
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Offline
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
7. Global Language Services Market, By Region, 2024 - 2031, Value (USD Bn)
- Introduction
- Market Share (%) Analysis, 2024,2027 & 2031, Value (USD Bn)
- Market Y-o-Y Growth Analysis (%), 2019 - 2031, Value (USD Bn)
- Regional Trends
- North America
- Introduction
- Market Size and Forecast, By Service, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End-user Industry, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Mode, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- U.S.
- Canada
- Latin America
- Introduction
- Market Size and Forecast, By Service, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End-user Industry, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Mode, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Introduction
- Market Size and Forecast, By Service, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End-user Industry, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Mode, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, By Service, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End-user Industry, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Mode, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- Introduction
- Market Size and Forecast, By Service, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End-user Industry, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Mode, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- Introduction
- Market Size and Forecast, By Service, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End-user Industry, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Mode, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- South Africa
- North Africa
- Central Africa
8. Competitive Landscape
- RWS
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- LanguageLine Solutions
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Appen
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- translate plus
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- lyuno-SDI Group
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Acolad Group
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Welocalize
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Hogarth Worldwide
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- STAR Group
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Pactera Edge
- Pixelogic Media
- Cyracom International
- AMN Language Services
- Translation Bureau
- Honyaku Center
9. Analyst Recommendations
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
10. References and Research Methodology
- References
- Research Methodology
- About us
