Translation Services in the US - Industry Market Research Report
- April 2017
- 34 pages
- Report ID: 184493
Translation Services in the US
In the early part of the current period, revenue for the Translation Services industry declined every year as a result of decreased government spending. At the federal level, this was a result of the winding down of operations in Iraq and Afghanistan, while state and local governments cut back spending due to continued budget difficulties. Despite its recent struggles, the industry is expected to grow on account of rising globalization and the continued movement toward internet commerce, as companies look to cash in on an increasingly global marketplace.
Over the five years to 2022, the industry is forecast to grow in line with an improving economy, greater globalization and beneficial immigration patterns. As companies focus on international growth, they will turn to this industry to provide localization services.
This industry includes companies that translate written material and interpret speech from one language to another. It also includes companies that provide sign language services. The services provided by this industry include document translation and website localization, which is the translation of website information into languages for use in other countries, taking into account any unique cultural and linguistic traits.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.