London, 17 October 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global T&I Outsourcing Services Market 2014-2018, which is expected to grow at a CAGR of 6.34 percent during the forecast period of 2013-2018.
T&I outsourcing service firms help global companies to bridge the communication gap between clients, businesses, and individuals. Many vendors in the Global T&I Outsourcing Services market offer a suite of services from document translation and website localization to multilingual court reporting and oral interpretation.
“With the help of machine translation, T&I outsourcing service companies can significantly improve their efficiency and reduce the high cost of human translation using human-assisted machine translation,” says Faisal Ghaus, Vice President of TechNavio.
“Currently, some translation companies use translation memories, which can improve the consistency and accuracy of the translated content.”
Key Market Drivers
- Rapid Globalization
- Increase in Demand for T&I Services in Emerging Countries
- Demand for Localized Services
- Focus on Core Capabilities
Key Market Trends
- Increasing Adoption of Machine Translators
- Market Consolidation
- Innovations in Technology
- Multilingual Social Media
Key Market Vendors
- Hewlett-Packard Development Company LP
- Lionbridge Technologies Inc.
- Mission Essential Personnel LLC
- SDL plc
- TransPerfect Translations International Inc.
To define the market circumstances 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.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
