Translation Services Market
To understand market size (revenue and units) by type of translator service segment specialization and any context on well-funded startups in the translation space in order to evaluate a company in translation services.
Our background research on the translation services market revealed insights. Here are some key pieces of information we found:
Translation Services Market Overview
- According to the U.S. Bureau of Statistics, the translation services industry is expected to grow by 42% between 2010 – 2020. The most important driver for continued growth is globalization.
- The technical translation services segment is expected to grow as a result of manufacturing changes, higher exports and higher availability of more devices, from more sophisticated automobiles to electronic gadgets.
- The medical and pharma industry is experiencing rapid growth in Latin America, Canada, and Europe, with the Asia-Pacific having the fastest growth of all. Medical and pharma industry growth in these regions with also have a positive impact on the growth of the medical translation services segment.
- There are ten other types of segment specializations in the translation services market: literary, script, software localization, commercial, legal, judicial, administrative, financial documents, website, and multimedia localization.
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