Translation Industry Statistics
The need to cross linguistic barriers for commercial purposes has created a surge in demand for translation services.
These numbers illustrate the key translation industry trends of recent years, as well as projections of growth. Spoiler alert: The translation industry has a promising future!
- The global language services market was valued at approximately USD 49.6 billion in 2019. It has since rose to USD 56.18 billion in 2021, which shows a growth of more than USD 5 billion in just two years. (Statista)
- Europe owns nearly half of the global language services market at 49%, followed by North America at 39.41%. (Statista)
- The translation service market size grew by 40% during COVID-19. (Market Research Future)
- The machine translation market alone was valued at USD 650 million in 2020 and is expected to reach USD 3 billion by 2027. (Global Market Insights)
- In 2020, the demand for translation in healthcare increased by 49% due to the need to dispense COVID-19 healthcare information. (European Commission)
On the other hand, there is a declining demand for translation in events, travel and leisure, and the automobile industries. (European Commission)
For a larger view of changes in localization demand, check out the following graph. (CSA Research)
