Reporting on the top language service providers (LSPs) in the world, market research firm Nimdzi Insights announces a milestone for the localization industry.
SEATTLE, WASHINGTON, USA, February 23, 2022 /EINPresswire.com/ -- Reporting on the top language service providers (LSPs) in the world, market research firm Nimdzi Insights announces a milestone for the localization industry.
The research firm’s annually compiled list of the most successful translation and localization companies globally has investors looking towards the localization industry.
The niche space, known to be impervious to crises, is one that powers international communication through services like translation, subtitling, dubbing, transcreation, and other language services.
The report, due for publication in March, will expand on the successes of the enterprises and the trends powering the space. The ranking, released today, publishes preliminary findings on the language services market.
According to VP of Research Sarah Hickey, the market is “better set up than ever before to meet the increasingly complex demands of buyers and reaping the rewards of the efforts put in at the start of the pandemic.”
Data from Nimdzi Insights shows that:
Annual growth among the 100 largest industry players has increased significantly as compared to last year.
The industry continues to grow producing larger companies every year.
Despite ongoing consolidation at the top, the industry as a whole continues to grow, producing larger language service providers every year. This trend holds true even in the lowest positions of the Nimdzi 100 ranking, with the 100th largest LSP confirming revenues of USD 12.6 million this year as compared with USD 12.0 million, USD 11.6 million, and USD 10.3 million for the 100th ranked LSPs in 2020, 2019 and 2018, respectively.
This year, TransPerfect, a long-time industry leader, ranks at the top of the list with USD 1.1 billion in revenue in 2021. It is the first time that an LSP surpasses the billion-dollar mark in the industry. The figure is up from USD 852.4 million in 2020 and is an increase of more than 30 percent year-over-year.
Following Transperfect in the list, companies making the top five include:
1. TransPerfect, USD 1.1 billion
2. RWS, USD 955.3 million
3. LanguageLine Solutions, USD 750 million
4. Keywords Studios, USD 596.9 million
5. Lionbridge, USD 545.9 million
About Nimdzi Insights
Nimdzi Insights is an international market research and consulting firm, based in Seattle, Washington. Nimdzi advises on mergers and acquisitions, investments in the language services and localization industry, localization programs, and provides business resources for global professionals.