For the fifth consecutive year Independent market research firm Common Sense Advisory recognizes Lionbridge as the world leader in the growing, $43 billion global language services industry
Waltham, Mass. – July 11, 2017 — Lionbridge Technologies, Inc., announced today its official ranking as the largest language services provider (LSP) in the global translation, localization, and interpreting industry. Issued July 2017 by independent market research firm Common Sense Advisory (CSA Research), the report titled “The Language Services Market: 2017” ranked Lionbridge as a top-grossing LSP in the US$43.08 billion global market for outsourced language services and technology.
As part of the study, the firm surveyed providers from every continent to collect actual reported revenue for 2015, 2016, and expected revenue for 2017. Lionbridge leads the industry due to its innovative language technology-platform, its global program management excellence and its trusted network of in-country translation and localization professionals. More than 800 global brands rely on Lionbridge to manage their business-critical content, applications and communications across channels, platforms and languages.
CSA Research, which has published market size estimates and global rankings for the past 13 years, found that the demand for language services and supporting technologies continues and is growing at an annual rate of 6.97%, representing an increase over last year’s rate of 5.52%.
“The sheer number of countries, people, and languages – many of them in markets experiencing tremendous economic growth – assures that demand for language services will only increase over time. As our research conclusively demonstrates, people are much more likely to purchase products in their own language. In addition, localization reduces customer care costs and increases brand loyalty,” explains Don DePalma, CSA Research’s founder and Chief Strategy Officer.
As organizations both large and small make their products and services available in more languages, the firm predicts that the language services industry will continue to grow and that the market will increase to US$47.46 billion by 2021. Factors driving this demand include mobile, wearables, and the internet of things (IOT); on-demand offerings to support live chat, texts, tweets, and other short-shelf content bits; and legislation requiring access to language services.
“Topping CSA Research’s list of language service providers is a testament to our global teams across 27 countries. Every one of our ‘Lions’ is committed to our clients’ global success. It is this proven and continued trust that sets Lionbridge apart,” said Rory Cowan, Chairman and CEO of Lionbridge. “Like all services industries, the translation market is going through tremendous change, from new advancements in language automation to IoT. As the industry leader, we are advancing this transformation through market-leading technology and proven process excellence. Our clients, employees and partners will benefit as we deliver new levels of innovation, scale and growth.”
Lionbridge enables more than 800 world-leading brands to increase international market share, speed adoption of products and effectively engage their customers in local markets worldwide. Using our innovative cloud technology platforms and our global crowd of more than 100,000 professional cloud workers, we provide translation, online marketing, global content management and application testing solutions that ensure global brand consistency, local relevancy and technical usability across all touch points of the customer lifecycle. Based in Waltham, Mass., Lionbridge maintains solution centers in 27 countries. To learn more, visit www.lionbridge.com.
Common Sense Advisory is an independent market research company specializing in translation, localization, interpreting, globalization, and internationalization analysis and consulting. www.commonsenseadvisory.com / @CSA_Research