Who thought having a beefed-up localization program with dozens of supported languages guarantees your company’s growth?
If you have been wondering the same, contemplating which languages and markets to go for next, the (perhaps surprising) answer is, no, it doesn’t … not necessarily.
Depending on who you are and how you look at it, you either see a missed/untapped opportunity for these companies to grow internationally or terrific potential for language services providers (LSPs) to go hunting for the next big contract.
However, keep in mind the following:
LSP sales in Europe have grown by 34 percent in the latest seven years tracked, while the number of companies with at least two employees has increased by 32.6 percent. On the surface, the signs are great for current providers: revenue has increased more than the competition. However, providers of different classes have benefitted unequally. […]
In our industry, it often boils down to what people are willing to pay for having their content localized. Let's look at pricing.