Translation Services Market Intelligence

Translation Services Market Description

The global translation services market is expected to reach $45 billion by 2020 with North America accounting for 30 percent of the market. Demand is high for translation of documents to English, Italian, German, French, and Spanish, as well as translations to and from Asian languages such as Korean, Japanese, and Chinese. Despite being cheaper, machine translations tend to be only 50-70 percent accurate. Top suppliers spend almost 10-12 percent of revenue on translation technology solutions and up-gradation to withstand high competition in the market. Leading translation service providers are Lionbridge Technologies, TransPerfect/Translations.com, and LanguageLine Solutions.

The report provides a comprehensive overview of the global translation services market, identifying key market trends and technology trends. The report also examines the demand and supply for the global translation services market. The report presents an analysis of the best practices of the industry, detailed engagement models and sourcing models. The cost components of the global translation services are analyzed in the report and a cost structure analysis is also provided with case studies. The report includes a detailed supplier analysis, along with supplier profiling and shortlisting criteria.

Beroe gathers intelligence through primary sources that include industry experts, researchers, and consultants, as well as current suppliers, producers and distributors. Secondary sources can include business journals, newsletters, magazines, market research data, company sources, and industry associations. Following data collation, analysis, and strategic review, the Final Research Report is published on Beroe LiVE.

Report Coverage

Trends in Engagement Models - MTSP
Sourcing Models
Cost Structure Analysis for Translation Services
Cost Components – Translation Services

Translation Services Market Trend, Analysis & Forecast

Category Intelligence on Translation Services covers the following

Information relating to market, supply, cost, and pricing analysis
Hard to find data on cost and TCO models, supplier details, and performance benchmarks
Macroeconomic and regional trends impacting cost, supply, and other market dynamics
Category-specific negotiation and sourcing advice

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Executive Summary

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Market Analysis

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Supply Analysis

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Cost & Pricing Analysis

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Best Practices

1. Executive Summary

1.1. Category Intelligence Summary

2. MARKET ANALYSIS

2.1. Market Overview on Translation Services

2.2. Machine translation Technology tools

3. BEST PRACTICES

3.1. Sourcing Models

3.2. Managed Translation Service Providers

3.3. Cost Structure Analysis for Translation Services

3.4. Case Studies /Success Stories

4. SUPPLIER ANALYSIS

4.1. Supplier Profiling: Machine translation service providers

4.2. Supplier Profiling: Language service providers

Market Overview on Translation Services

The global translation industry is expected to witness a robust growth in the next four years. The key supplier initiatives in the market are driven toward expanding service portfolio, enhancing geographical footprint and improved technological capabilities, aimed at increasing efficiency and reducing the cost for buyers.

Technology Trends - Machine Translation

Machine translation is a statistical automated translation method. Open sourced SMT methods are widely used and it is an emerging trend in the market. Most of the Language service providers are using machine translation.

In the US & Europe, cloud based machine translation services are gaining importance
Cloud Translation helps to manage projects easier with a dashboard solution
Most of the global suppliers offer the portal services to clients, who opt for document translation in varies languages
Some suppliers charge a one-time payment for the portal access, while others offer it for free
Additional charges are incurred for the following services:

Specialized reporting
Email notifications to alert changes in project status
Ability to track departmental translation expenditures

Machine translation Technology Tools

Spend involved in cloud based machine translation is less when compared to on premises MT server. Fortune 500 companies are strategically engaging with LSP who provides machine translations with human post-editing services.Ex: PepsiCo, Lilly, Sun Chemicals, Novartis and Xerox.

Market Trends – Process Centralization

Most of the organizations in North America and European nations are moving towards the centralizing their translation activities and streamlining the budget in order to achieve process efficiencies, spend visibility and cost saving.

Centralization of translation services includes the following parameters:

Governance structure – Process optimization and centralization
Technology – SaaS based Translation Management System
Supplier sourcing strategy – Managed Translation Service Provider

Demand & Supply Overview

Languages in Demand

The demand for the translation of documents to languages such as English, Italian, German, French, Spanish, and Portuguese is quite high
Translation to and from common Asian languages such as Korean, Japanese, and Chinese is also in high demand, followed by Russian and Turkish

Supply Market

The suppliers with Cloud based translation solutions are in demand and the supply market is well matured
Suppliers are increasingly investing in technologies, with real-time translation being the key focus area
This would enable the suppliers to reduce their cost, enabling a reduction in prices and improvement in turnaround time

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