Language Services Market Size, Share, Growth Report, 2030

IMARC Group, a leading market research company, has recently released a report titled “Language Services Market Report by Service (Translation Services, Interpretation Services, and Others), Component (Software, Hardware), Application (IT and Telecommunications, Commercial, Government, Automotive, Healthcare, and Others), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the global language services market share, growth, size, and industry trends forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

The global language services market size reached US$ 72.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 108.9 Billion by 2032, exhibiting a growth rate (CAGR) of 4.6% during 2024-2032

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What is Language Services Market?

Language services refer to a set of language assistance solutions that provide varying degrees of interpretation, comprehension, translation, localization, and other training services. They include an extensive range of written, electronic, and multimedia materials for dubbing, transcription, narration, voice-over, etc. Language services offer multiple benefits, such as skill development, effective communication, comprehensive geographical outreach, high accuracy rate, etc. They even facilitate highly interactive learning platforms for the users. As a result, language services find widespread applications across numerous sectors, including information technology (IT), telecommunication, education, automotive, banking, medical, etc.

Language Services Market Trends:

The launch of innovative software for accurate translation and interpretation results is among the key factors driving the language services market.

In addition to this, the increasing need for translation services, on account of the expanding geographical outreach of various leading companies that ensure convenience to international clients and allow companies to express their services efficiently, is acting as another significant growth-inducing factor. In line with this, the rising influx of translation and interpretation outsourcing is also positively influencing the global market.

Moreover, the growing medical tourism, international business tourism, leisure tourism, on-site work stays, etc., is further stimulating the market growth. Apart from this, the introduction of customized foreign language training courses that are being offered at off-site and on-site locations in classroom, semi-private, private, tutorial, and in-country immersion forums, the emerging trend of integrating artificial intelligence (AI), and the shifting preferences toward digitizing content and international marketing are expected to propel the language services market over the forecasted period.

Language Services Market Segmentation:

Breakup by Service:

·         Translation Services

·         Interpretation Services

·         Others

Breakup by Component:

·         Software

·         Hardware

Breakup by Application:

·         IT and Telecommunications

·         Commercial

·         Government

·         Automotive

·         Healthcare

·         Others

Breakup by Region:

·         North America

·         Europe

·         Asia Pacific

·         Middle East and Africa

·         Latin America

Competitive Landscape with Key Players:

The competitive landscape of the language services market size has been studied in the report with the detailed profiles of the key players operating in the market.

Some of These Key Players Include:

·         Global Linguist Solutions LLC

·         Hogarth Worldwide

·         Keywords Studios Plc

·         Language Line Solutions (Teleperformance)

·         Lionbridge Technologies Inc.

·         Mission Essential Personnel

·         RWS Holdings plc

·         SDI Media

·         SDL plc

·         TransPerfect Solutions

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Key Highlights of the Report:

·         Market Performance (2018-2023)

·         Market Outlook (2024-2032)

·         Market Trends

·         Market Drivers and Success Factors

·         Impact of COVID-19

·         Value Chain Analysis

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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