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.

Research proposal:

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