Translation Industry Statistics
August 26, 2008 by Beverly Cornell
Filed under Translation, Translation in the news
According to Common Sense Advisory the following are statistics for Language Service Providers (LSPs) and the industry. LSPs includes, translation, localization and globalization service providers.
1. Overall, the LSP industry top 25 companies are averaging 26% growth over the previous year while remaining companies are growing at 7.5% a year.
2. The global LSP industry totals US $12.1 Billion, they predict that the industry will reach US$24 Billion by 2012 – which is about 14.6% growth over the next 5 years.
3. The main drivers for growth are, foreign exchange issues, increased sales in economic environments favorable to international trade and relations.
Despite current U.S. economic issues – LSPs are finding the global economy beneficial. As more companies are seeking additional clients outside of the U.S. the translation industry will be more and more imperative to global success. That is good news for IteroText Translation Services and our clients who are going global.
Hello Ms. Cornell,
I am a PhD student at McGill University and my research topic is on machine aided human translation. I am currently writing my thesis and came across your blog post “Translation Industry Statistics” while looking for some financial data on the translation industry.
I was wondering if I could cite the information in that article. If so, could you please send me the exact citation text that you would like me to use.
Also, it would be helpful for me if you could provide me any current statistical information with regards to the translation industry. In addition, as I am working in French to English translation in Canada, any information concerning that would be appreciated.
Regards,
Aarthi