The global language services market is anticipated to grow at a CAGR of 6.6% during the forecast period. Due to the localization of businesses, the language services market is growing rapidly due to several factors, including the increasing globalization of business, and the growth of e-commerce. By localizing its products and services, a company can reach a wider audience and build stronger relationships with its customers. As more and more businesses operate in multiple countries, they need to localize their products and services to stay competitive in the market. For instance, Netflix is a streaming service that delivers films and TV shows to over 190 countries. The company has tailored its content for every market, dubbing the audio into the appropriate language and translating the subtitles. Because of this, Netflix has been able to draw sizable audiences in each market. Another company that uses language services is Airbnb. The home-sharing platform operates in over 200 countries and it supports more than 25 languages. This will help Airbnb to grow its customer base and become a leader in the global accommodation industry.
Browse the full report description of “Language Services Market Size, Share & Trends Analysis Report by Type (Translation Services, Localization Services, and Interpreting Services), by Component (Software and Hardware), by end-user (BFSI, IT and Telecom, Media and Entertainment, Retail and E-Commerce, Healthcare, Government, Education, Travel and Transport) Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/language-services-market
With the rising demand for language services, market players adopted various strategies including mergers and acquisitions, partnerships, funding, collaborations, and new product launches to stay competitive in the market. For instance, in April 2022, a leading global language services company, BIG Language Solutions, announced the purchase of Milan-based Lawlinguists, a provider of legal translation services. The purchase allowed BIG's European footprint to include Italy, Germany, and Spain, giving its clients access to legal translation services, tools, and technology.
Market Coverage
• The market number available for – 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o Type
o Component
o End-User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- including Atlas Language Services Inc., Lionbridge Technologies Inc, RWS Holdings Plc, and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Language Services Market Report Segment
By Type
By Component
By End-User
Global Language Services Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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