Document Translation Services

Goals

To determine the demand for online document translation services in the US.

Early Findings

  • According to Verified Market Research, the global translation services market was worth roughly $40 billion in 2019, growing at a CAGR of 2.1% until 2027.
  • The biggest market for the industry was Europe, which dominated the market and is expected to account for the biggest growth in the foreseeable future.
  • The US market was worth $6.0 billion in 2019, an annualized increase of 3.3% since 2015.
  • The US market is expected to grow at a CAGR of 2.6% until 2025.
  • There were 61,205 US businesses that offered translation services in 2019, mainly focusing on two categories: document translation and website localization.
  • The biggest players that offer translation services include TransPerfect, Teleperformance, Lionbridge, LanguageLine Solutions, Lingotek ,and United Language Group. Each of the mentioned players provides document translation as well.

Proposed next steps:

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