$9.72 Billion Growth in Global Language Services Market 2020-2024 | Key Segment Insights and Forecast for New Normal | Technavio

LONDON--(BUSINESS WIRE)--The language services market is expected to grow by USD 9.72 billion, progressing at a CAGR of over 4% during the forecast period.

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Globalization of businesses is one of the major factors propelling the market growth. In addition, the increased localization of video content will boost the growth of the market during the forecast period.

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Language Services Market: End-user Landscape

Based on the end-user, the market witnessed maximum growth in the healthcare segment in 2019. Factors such as the surge in patent filings by existing and new organizations, regional expansion of businesses, increased outsourcing by drug manufacturers and clinical research companies, and the rising demand for localization services are fueling the growth of the segment. The market growth in this segment will be significant over the forecast period.

Language Services Market: Geographic Landscape

By geography, APAC is going to have a lucrative growth during the forecast period. About 30% of the market’s overall growth is expected to originate from APAC. The market growth in the region is driven by the increasing globalization of businesses in Asian markets. China is the key market for language services in the region.

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Related Reports on Information Technology Include:

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Companies Covered:

• Atlas Language Service Inc.
• Globe language Services Inc.
• Lionbridge Technologies Inc.
• RWS Holdings Plc
• SDL Plc
• Semantix International AB
• Summa Linguae Technologies
• Teleperformance SE
• TransPerfect Global Inc.
• and Welocalize Inc.

What our reports offer:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers market data for 2020, 2021, until 2025
• Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Key Topics Covered:

Executive Summary

• Market Overview

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by End-user

• Market segments
• Comparison by End-user placement
• Healthcare - Market size and forecast 2019-2024
• ICT - Market size and forecast 2019-2024
• BFSI - Market size and forecast 2019-2024
• Government - Market size and forecast 2019-2024
• Others - Market size and forecast 2019-2024
• Market opportunity by End-user

Customer landscape

• Overview

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• Europe - Market size and forecast 2019-2024
• North America - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography

Drivers, Challenges, and Trends

• Market drivers
• Volume driver - Demand led growth
• Volume driver - Supply led growth
• Volume driver - External factors
• Volume driver - Demand shift in adjacent markets
• Price driver - Inflation
• Price driver - Shift from lower to higher priced units
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Atlas Language Service Inc.
• Globe language Services Inc.
• Lionbridge Technologies Inc.
• RWS Holdings Plc
• SDL Plc
• Semantix International AB
• Summa Linguae Technologies
• Teleperformance SE
• TransPerfect Global Inc.
• Welocalize Inc.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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