- The key vendors in the Global Language Services Market are Euroscript International SA, Hewlett-Packard Development Company LP (HP), Lionbridge Technologies Inc., SDL plc and Star Group Ltd.
London, 20 August 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on the Global Language Services Market 2014-2018. One such major trend is an increase in the adoption of machine translators. Many companies prefer them over human translators. Machine translators can process massive amounts of information in a cost-effective manner. This helps companies improve their efficiency.
LSPs help bridge the communication gap between clients, businesses, and individuals. Many companies offer a suite of services from document translation, to website localization, to multilingual court reporting, to oral interpretation. The Global Language Services market is expected to grow at a CAGR of 5.72 percent during the period 2013-2018.
“The Language Services market in the Asia Pacific region shows huge potential as there is a huge demand for translation services for Asian languages, which is complemented by the improving economic condition in this region,” says Faisal Ghaus, Vice President of TechNavio Research.
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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