When computers, the internet and languages meet, a market worth US$33.5 billion – and growing at a rate of 12% a year – is the result. Yes, language services are in demand, even during global economic recession. Increased international commerce and immigration, among other things, are driving the need for translation and localization services.
Who rely most on language services? According to Common Sense Advisory, out of 36 industries researched, 10 account for 50% of all language services revenue. In descending order of market share, these are:
- Professional services: scientific and technical activities such as legal, accounting, management consulting and advertising.
- Health care and social work.
- Financial and insurance.
- Public administration: defense, justice and social services.
- Machinery and equipment manufacturing.
- Pharmaceutical manufacturing.
- Electronic, computer and optical products manufacturing.
- Software publishing.
- Heavy manufacturing: motor vehicles, trailers and other transport equipment.
The language services market may be booming, but what about all the businesses that are not localizing their websites? According to dakwak data, unless companies effectively localize their websites for each specific country or language, they are potentially losing out on US$30 trillion in internet sales. Read the press release here.
Many businesses fail to properly localize their websites because they associate the process with high costs; however, dakwak’s cloud-based translation and localization software offers fully flexible solutions to businesses of all sizes and budgets, without technical involvement or the need to hire multiple localization teams or developers. Learn more about dakwak’s translation technology.