In 2010, we published a white paper called “The Growing Demand for Language Services.” In it we detailed how expanding international trade and multicultural advertising were driving a huge growth in the demand for translation, localization, and other language services. We argued that business services providers—like marketing and design agencies, website developers, and event planners—could benefit from lining up a language partner to be ready for requests from their own clients.
A lot has changed since 2010, but one thing hasn’t changed: the language industry is continuing to grow at a significantly faster rate than the overall economy. The boom in online content marketing has only fed that growth.
So, we thought it was time to republish the white paper with a new look and updated information. The paper gives details on the growth of language industry revenue over the past decade and the growth expected through 2018. We also look at some of the major factors feeding this growth:
- Increases in U.S. exports of goods and services.
- The growth rates for internet usage around the globe, especially in Africa, Asia and Latin America.
- The surge in international advertising, including in particular services related to multimedia content marketing and transcreation.
- The growth of language minorities in the U.S. market.
It’s time to look for a reliable language partner now so that you can get a piece of the action.