Interpreter Services Market
Interpreter Services Market Size, Share & Trends Analysis Report by Services (Language Interpretation, Language Translation, Language Testing & Training, Localization, and Others), and by Application (BFSI, Healthcare, Travel & Tourism, Legal, Media & Entertainment, and Others) Forecast Period (2022-2028) Update Available - Forecast 2024-2030
interpreter services market is anticipated to grow at a CAGR of 5.1% during the forecast period. Interpreting services are the provision of spoken or signed language communication by a professional interpreter to convey a message from the language of the original speaker or writer, into the language of the listener. The growing demand for video translators is expected to accelerate the interpreter services market during the forecast period. For instance, according to the data stated by Cisco, in 2021, 80% of online traffic will be generated from visual content which will eventually increase the demand for translation, and 84% of video content on Facebook and other social media platforms is often played without sound. So, subtitles are becoming crucial.
Segmental Outlook
The global interpreter services market is segmented based on the services and applications. Based on the services, the market is sub-segmented into language interpretation, language translation, language testing & training, localization, and others including dubbing and proofreading. Based on the application, the market is sub-segmented into the BFSI, healthcare, travel & tourism, legal, media & entertainment, and others. The above-mentioned segments can be customized as per the requirements. The growing demand for interpretation services in the legal industry is expected to drive the legal segment growth over the forecast period.
Among the services segment, language translation is expected to provide a lucrative growth opportunity to the market during the forecast period due to the rising demand for language translation services. Language translation service providers offer customers the ability to communicate to a global audience with the assistance of a professional linguist. It is the act of transferring the linguistic entities from one language into their equivalents in another language. The market players are continuously expanding their products and service to stay competitive. For instance, in October 2022, Google and Alphabet, announced the launch of Translation Hub, the company’s enterprise-scale document translation service. Translation Hub is “Google Cloud’s AI agent that helps companies translate content in over 135 languages.
Regional Outlooks
The global interpreter services market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. The Asia-Pacific region is expected to be the fastest-growing region due to increasing urbanization and the growing number of startups in the region. Additionally, increasing immigration in the region is further expected to propel the market growth during the forecast period owing to new immigration demand expanding the current language services market to serve these populations.
Global Interpreter Services Market Growth, by Region 2022-2028
North America is Expected to Hold a Significant Share of the Global Interpreter Services Market
Among all regions, North America is expected to provide a significant growth opportunity to the interpreter services market during the forecast period. The growing internet penetration across the globe is pushing companies for software localization and website globalization which will create demand for companies to be multilingual to cater to local markets. To create a strong presence globally, the companies are deploying and implementing translators for effective and efficient business functioning which will positively impact market growth. For instance, KFC has 23,000 locations in more than 140 countries and dining preferences differ significantly from country to country, and KFC has designed each local version of its website to reflect that fact. The company has deployed a British version of the website unveiling a big drive to get customers to order online or via the app.
Market Players Outlook
The major companies serving the global interpreter services market include Acolad Group, Atlas Language Services, Inc., Day Translations, Inc., Gengo, Inc., Lingotek Inc., Mars Translation Services, ProZ.com, RWS Holdings Plc, Semantix AB, others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in May 2022, Interpreters Unlimited (IU) launched a new interpreter services app nationwide. The company also introduced a brand-new smartphone application for booking language services. Furthermore, in 2022, it only makes sense to provide services through a smartphone app. With the IU app, customers have access to the entire pool of IU’s contracted linguists, over 10,000 of them, covering more than 200 languages including American Sign Language (ASL).
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global interpreter services market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Interpreter Services Market by Services
4.1.1. Language Interpretation
4.1.2. Language Translation
4.1.3. Language Testing & Training
4.1.4. Localization
4.1.5. Others (Dubbing, Proofreading)
4.2. Global Interpreter Services Market by Application
4.2.1. BFSI
4.2.2. Healthcare
4.2.3. Travel & Tourism
4.2.4. Legal
4.2.5. Media & Entertainment
4.2.6. Others
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Acolad Group
6.2. Atlas Language Services, Inc.
6.3. Day Translations, Inc.
6.4. Gengo, Inc.
6.5. Ingco International
6.6. Language Line Solutions
6.7. Lingotek Inc.
6.8. Lionbridge Technologies, Inc.
6.9. Mars Translation Services
6.10. One Hour Translation (Get Blend)
6.11. ProZ.com
6.12. RWS Holdings Plc
6.13. Semantix AB
6.14. Stars Group, Inc.
6.15. Straker Translations
6.16. Text Master (Acolad Group)
6.17. The bigword Group Ltd.
6.18. Toppan Digital Language Ltd.
6.19. TransPerfect Global Inc.
6.20. Welocalize, Inc.
6.21. Yamagata Corp.
1. GLOBAL INTERPRETER SERVICES MARKET RESEARCH AND ANALYSIS BY SERVICES, 2021-2028 ($ MILLION)
2. GLOBAL LANGUAGE INTERPRETATION SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL LANGUAGE TRANSLATION SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL LANGUAGE TESTING & TRAINING SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL LOCALIZATION INTERPRETER SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL OTHER INTERPRETER SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL INTERPRETER SERVICES MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
8. GLOBAL INTERPRETER SERVICES FOR BFSI MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL INTERPRETER SERVICES FOR HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL INTERPRETER SERVICES FOR TRAVEL & TOURISM MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL INTERPRETER SERVICES FOR LEGAL MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL INTERPRETER SERVICES FOR MEDIA & ENTERTAINMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. GLOBAL INTERPRETER SERVICES FOR OTHER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
14. GLOBAL INTERPRETER SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
15. NORTH AMERICAN INTERPRETER SERVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
16. NORTH AMERICAN INTERPRETER SERVICES MARKET RESEARCH AND ANALYSIS BY SERVICES, 2021-2028 ($ MILLION)
17. NORTH AMERICAN INTERPRETER SERVICES MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
18. EUROPEAN INTERPRETER SERVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
19. EUROPEAN INTERPRETER SERVICES MARKET RESEARCH AND ANALYSIS BY SERVICES, 2021-2028 ($ MILLION)
20. EUROPEAN INTERPRETER SERVICES MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
21. ASIA-PACIFIC INTERPRETER SERVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
22. ASIA-PACIFIC INTERPRETER SERVICES MARKET RESEARCH AND ANALYSIS BY SERVICES, 2021-2028 ($ MILLION)
23. ASIA-PACIFIC INTERPRETER SERVICES MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
24. REST OF THE WORLD INTERPRETER SERVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
25. REST OF THE WORLD INTERPRETER SERVICES MARKET RESEARCH AND ANALYSIS BY SERVICES, 2021-2028 ($ MILLION)
26. REST OF THE WORLD INTERPRETER SERVICES MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)?
1. GLOBAL INTERPRETER SERVICES MARKET SHARE BY SERVICES, 2021 VS 2028 (%)
2. GLOBAL LANGUAGE INTERPRETATION SERVICES MARKET SHARE BY REGION, 2021 VS 2028 (%)
3. GLOBAL LANGUAGE TRANSLATION SERVICES MARKET SHARE BY REGION, 2021 VS 2028 (%)
4. GLOBAL LANGUAGE TESTING & TRAINING SERVICES MARKET SHARE BY REGION, 2021 VS 2028 (%)
5. GLOBAL LOCALIZATION INTERPRETER SERVICES MARKET SHARE BY REGION, 2021 VS 2028 (%)
6. GLOBAL OTHER INTERPRETER SERVICES MARKET SHARE BY REGION, 2021 VS 2028 (%)
7. GLOBAL INTERPRETER SERVICES MARKET SHARE BY APPLICATION, 2021 VS 2028 (%)
8. GLOBAL INTERPRETER SERVICES FOR BFSI MARKET SHARE BY REGION, 2021 VS 2028 (%)
9. GLOBAL INTERPRETER SERVICES FOR HEALTHCARE MARKET SHARE BY REGION, 2021 VS 2028 (%)
10. GLOBAL INTERPRETER SERVICES FOR TRAVEL & TOURISM MARKET SHARE BY REGION, 2021 VS 2028 (%)
11. GLOBAL INTERPRETER SERVICES FOR LEGAL MARKET SHARE BY REGION, 2021 VS 2028 (%)
12. GLOBAL INTERPRETER SERVICES FOR MEDIA & ENTERTAINMENT MARKET SHARE BY REGION, 2021 VS 2028 (%)
13. GLOBAL INTERPRETER SERVICES FOR OTHERS MARKET SHARE BY REGION, 2021 VS 2028 (%)
14. GLOBAL INTERPRETER SERVICES MARKET SHARE BY REGION, 2021 VS 2028 (%)
15. US INTERPRETER SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
16. CANADA INTERPRETER SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
17. UK INTERPRETER SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
18. FRANCE INTERPRETER SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
19. GERMANY INTERPRETER SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
20. ITALY INTERPRETER SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
21. SPAIN INTERPRETER SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
22. REST OF EUROPE INTERPRETER SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
23. INDIA INTERPRETER SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
24. CHINA INTERPRETER SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
25. JAPAN INTERPRETER SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
26. SOUTH KOREA INTERPRETER SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
27. REST OF ASIA-PACIFIC INTERPRETER SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
28. REST OF THE WORLD INTERPRETER SERVICES MARKET SIZE, 2021-2028 ($ MILLION)
