The Current Size of the Interpreting Market Nimdzi Finger Food
We estimate the market for interpreting services in 2019 at USD 7.6 billion.
This includes core services such as onsite interpreting, over-the-phone interpreting (OPI), video remote interpreting (VRI), video relay services (VRS), sign language interpreting, conference interpreting, equipment rental for interpreting, and related services.
Interpreting providers should calculate the addressable market for their services at 60 percent of the total figure. This is because not all interpreting services are outsourced to LSPs. Large institutions like the European Union and Hospital Systems employ staff interpreters as well as freelancers, rather than working with agencies.
Top companies concentrate 33.2% of industry revenue
Although M&A, and centralizations via government contracts are on the rise, the interpreting industry is still largely run by many small companies. All companies included in The Nimdzi Interpreting Index accounted for 33.2% of the interpreting industry in 2018.
In absolute figures, the 55 companies tracked by Nimdzi earned USD 2.5 billion in the latest fiscal year. The top 10 companies were responsible for more than a third of that.
- USD 1 billion in the top 10
- USD 316 million in the next 23
- USD 1.2 billion approximately in the watchlist
The industry is still predominantly made up of companies smaller than USD 5 million.
The Nimdzi finger food is the bite-sized insight you need to fuel your decision-making today.
Stay up to date as Nimdzi publishes new insights. We will keep you posted as each new report is published so that you are sure not to miss anything.