Article by Sarah Hickey.
The language services industry is a diverse space by its very nature as its primary purpose is to connect people from a vast number of language and cultural backgrounds. Communication is at the core of all human interactions and where there is a need for communication, there is a need for language services. If we consider all the potential scenarios and ways in which people communicate, it should not come as a surprise that there is a whole array of language services which goes far beyond the well-known, traditional translation services — the bread and butter of the industry.
In fact, for our Nimdzi 100 ranking of the largest language service providers (LSPs) in the world, our definition of language services includes:
Translation, localization, transcreation, multilingual desktop publishing (DTP), language quality assurance, linguistic testing, multilingual copywriting, multilingual technical writing, language project management, interpreting, video remote interpreting, telephone interpreting, linguist verification and staffing, media localization, versioning, adaptation, subtitling, voiceover, dubbing, machine translation (MT), training machine translation engines, cultural consulting, data services, and related services.
After recently publishing an update to our graph that shows the market split by industry verticals, we decided that it was high time we do the same for the main services in the language industry. The percentages are based on our overall estimate of the global market size for all language services. We estimate that the language services industry reached USD 64.7 billion in 2022 and should grow to USD 69.3 billion in 2023.
The chart is based on data obtained via responses to The Nimdzi 100 survey earlier this year and on annual reports of publicly traded firms.
Nimdzi explores the Translation Business Management System (TBMS) market, highlighting trends in 2024. With over 40 solutions, LSPs seek alternatives to established leaders. Nimdzi's hands-on evaluation provides a snapshot of the evolving TBMS landscape, guiding developers and businesses in assessing software potential.
Based on data Nimdzi has collected around the translation management systems (TMS) market over the past decade, we have compiled the first public version of our TMS Compass. We have supplemented the data with the cumulative knowledge and experience of our experts who work with a variety of TMS products on a daily basis.
The ATC UK language services industry report is the reference publication on the size and the state of the language services market in the UK. This is the most up-to-date and relevant snapshot of the trends governing the market in the UK.