The conclusion of the study “The Language Services Market: 2018” by the American market-research company Common Sense Advisory (CSA Research) is that the market for language services will likely grow to 56.18 billion USD by 2021. What is contributing to this development?
The factors driving this demand include increasing globalisation among businesses, the rise of digitising content and customer service that's ever more personalised and international in nature.
Translating content and products reduces costs for customer service and improves brand loyalty, explained Dr Donald A. DePalma, founder of CSA Research. The research also confirms that people prefer to buy products offered in their native language.
The global market for language services and technologies will reach 46.52 billion USD (approximately 40 billion EUR) as early as this year, according