Translation Services Market Report 2025

The translation services market size has grown steadily in recent years. It will grow from $26.7 billion in 2024 to $27.76 billion in 2025 at a compound annual growth rate (CAGR) of 4%. The growth in the historic period can be attributed to globalization of businesses, multilingual content creation, international trade and collaboration, global travel and tourism, legal and regulatory compliance.

The translation services market size is expected to see strong growth in the next few years. It will grow to $33.9 billion in 2029 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to rise of e-commerce and global platforms, advancements in machine translation, increased demand for video and multimedia translation, localization for digital marketing, global health and medical translation needs, evolving regulatory landscape. Major trends in the forecast period include e-learning and localization, hybrid translation models, data security and confidentiality, blockchain for translation verification, post-editing services for machine translation.

An increase in the demand for non-English languages is anticipated to drive the growth of the translation services market. Non-English languages refer to individuals who, due to their cultural background or place of origin, speak a language other than English and may struggle to communicate effectively in English during interactions. To address client preferences for specific languages, the range of translation services is expanding. For example, in July 2024, Preply, a US-based online language learning marketplace, conducted a survey that found 36% of UK adults are bilingual, which equates to over 24 million people. The study also indicated that 49.5% of London residents are fluent in at least two languages, while cities like Belfast and Brighton boast significant bilingual populations, with a quarter of their inhabitants speaking two languages. Additionally, the survey revealed that Spanish is the most sought-after second language in the US, with more than 75,300 monthly searches for Spanish language courses. Consequently, the growing demand for non-English languages is propelling the expansion of the translation services market.

The rise in online education and e-learning is projected to boost the growth of the translation services market in the coming years. Online education and e-learning utilize digital technology to provide educational content and facilitate learning outside traditional educational settings. Translation services play a vital role in the success and accessibility of online education and e-learning platforms, as they bridge language gaps and ensure that educational resources reach a diverse global audience. For example, in September 2023, ProsperityForAll, a US-based comprehensive learning platform, reported that 220 million individuals had registered for at least one Massive Open Online Course (MOOC). In 2021 alone, MOOCs received an impressive 40 million sign-ups, with the total number of sign-ups rapidly increasing to 220 million by 2022. Therefore, the surge in online education and e-learning is driving the growth of the translation services market.

Technological advancements play a pivotal role in shaping the landscape of the translation services market. Major companies within the market are keen on developing cutting-edge solutions to stay at the forefront of technological innovation. An illustrative example is Google LLC, which, in October 2022, introduced Translation Hub - a cloud service empowering companies to independently translate documents. Through this platform, users can upload documents, select desired languages for translation, and receive translated content while maintaining the original document's layout. Google's Translation Hub also incorporates administrative capabilities for users to monitor translations and provide feedback, enhancing the overall translation process.

Strategic partnerships are emerging as a prominent approach among major players in the translation services market to address language barriers effectively. Strategic partnerships involve companies leveraging each other's strengths and resources for mutual benefits. A notable collaboration occurred in November 2022 when The Boeing Company joined forces with Tarjimly to enhance access to translation services for immigrants and refugees globally. Boeing's commitment included a $100,000 multi-year investment to support Tarjimly in improving its app's user experience and connecting over 10,000 migrants with crucial language support. This collaboration tapped into Boeing's diverse and multilingual workforce, offering opportunities for employees to volunteer as translators or interpreters through a training program facilitated by Tarjimly - a language and translation app based in the United States.

In January 2023, Unbabel, a US-based artificial intelligence-driven human translation platform, acquired EVS Translations for an undisclosed sum. This acquisition enables Unbabel to offer customers more workflows customized to their specific company needs, greatly lowering costs and translation time. Additionally, the company plans to deliver specialized content services for various industries, including finance, legal, and automotive. EVS Translations is a Germany-based firm that specializes in professional translation and localization services.

Major companies operating in the translation services market include TransPerfect Translations, Lionbridge Technologies Inc, LanguageLine Solutions LLC, Logos Group, Yamagata Corporation, RWS Group, Welocalize Inc., Mission Essential LLC, One Hour Translation Ltd., Babylon Software Ltd., Propio Language Services, Ingco International, CLS Communication, Thebigword Holdings Ltd., Day Translations Inc., Global Language Solution, GTS Translation Services, Language Services Associates, Straker Translations, Translations.com, Acolad Group, Hogarth Worldwide.

North America was the largest region in the translation services market in 2024. The regions covered in the translation services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the translation services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Translation services encompass professional assistance that converts written and spoken content from one language to another. This enables individuals from different countries to communicate and share ideas. These services are essential for promoting cross-cultural communication and understanding in an increasingly interconnected world.

The primary categories within translation services include written translation, interpretation, and additional specialized services. Written translation involves the use of hardware and software tools to convert text or words between languages. This includes technical translation and machine translation, catering to various sectors such as legal, medical, financial, banking, tourism, and other industries.

The translation services market research report is one of a series of new reports that provides translation services market statistics, including the translation services industry global market size, regional shares, competitors with translation services market share, detailed translation services market segments, market trends, and opportunities, and any further data you may need to thrive in the translation services industry. This translation services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The translation services market consists of revenues earned by entities by providing technical translation services, legal translation services, financial translation services, medical and life sciences translation, literary translation, and business translation services. The market value includes the value of related goods sold by the service provider or included within the service offering. The translation services market also includes sales of translation compilers, interpreters, and assemblers which are used in providing translation services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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