Growth of the Language Service Market
How fast is the language market growing? Based on year-to-year changes in revenue and the expected earnings reported by Localization Service Providers (LSPs), Common Sense Advisory a leading industry analyst firm calculates that the language services market will grow by an annual rate of 12.17% in 2012.
The total value of the market for outsourced language services is worth US$33.523 billion in 2012.
The percentage of total market size in in each region of the world in 2012 shows that North America shrinks while Europe and Asia grow.
- Asia gains significant grounds
- Asia gains language services market share in 2012. They are largely fueled by China. This is an important step for this part of the world since it is the first time that Asia reaches a double-digit percentage of total market share in this study.
- Western and Northern Europe keep growing
- France, Germany and the United Kingdom are the leaders of this trend. These regions shows impressive increases in market share. Meanwhile, Southern Europe still lost out market share overall.
Find more information on the Top 100 LSPs.
The STAR Team