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The global language services market was valued at US$ 62.6 Billion in 2021.
We expect the global language services market to exhibit a CAGR of 7.5% during 2022-2027.
The rising instances of international business tourism, medical tourism, leisure tourism, on-site work
stays, etc., are primarily driving the global language services market.
The sudden outbreak of the COVID-19 pandemic has led to the growing inclination towards language
services solution among individuals to remotely generate effective communication, wide
geographical outreach, high accuracy rate, and skill development.
Based on the service, the global language services market can be categorized into translation
services, interpretation services, and others. Currently, translation services exhibit clear dominance
in the market.
Based on the component, the global language services market has been segmented into hardware
and software, where software represents the largest market share.
Based on the application, the global language services market can be bifurcated into IT and
telecommunications, commercial, government, automotive, healthcare, and others. Among these,
the IT and telecommunication sector accounts for the majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle
East and Africa, and Latin America, where Europe currently dominates the global market.
Some of the major players in the global language services market include Global Linguist Solutions,
LLC, Hogarth Worldwide, Keywords Studios Plc, LanguageLine Solutions (Teleperformance),
Lionbridge Technologies, Inc., Mission Essential Personnel, RWS Holdings plc, SDI Media, SDL plc, and
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