Language Services Market - Actionable Research on COVID-19|Globalization of Businesses to Boost Market Growth | Technavio
Summary
LONDON--(BUSINESS WIRE)--The global language services market size is poised to grow by USD 9.72 billion during 2020-2024, progressing at a CAGR of over 4% throughout the forecast period, according to the latest report by Technavio. The expansion plans of companies have created the demand for individuals who are proficient in translating content into local languages. This is due to the surge in patent filings by existing and new organizations, regional expansion of businesses, increased outsourcing by drug manufacturers and clinical research companies, and the rising demand for localization services. Atlas Language Service Inc., Globe language Services Inc., Lionbridge Technologies Inc., RWS Holdings Plc, SDL Plc, Semantix International AB, Summa Linguae Technologies, Teleperformance SE, TransPerfect Global Inc., and Welocalize Inc. are some of the major market participants. Many such investments will positively influence the growth of the global language services market during the forecast period.