Slator 2024 Language Industry Market Report — Language AI Edition

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The Slator 2024 Language Industry Market Report provides a comprehensive view of the global language services and language technology industry — an addressable market of USD 27.03bn in 2023, according to Slator.

The report puts Language AI in focus. We examine how language AI has been elevated to a C-level priority within enterprises, and explore the unique opportunity that 2024 presents for language industry players to raise their visibility and expand their role.

Drawing on Slator surveys, conducted in early 2024 with buyers and language services and technology providers, this data-rich report shares key insights into the competitive position and strategy of industry players. 

We present the latest data on the extent of AI adoption across the industry. The AI maturity of enterprise buyers is also analyzed. Slator’s buyer survey results reveal the language AI services currently in most demand.

Report buyers and Slator Growth, Pro, and Enterprise subscribers will be invited to join a complimentary briefing about the report’s key findings on Monday, June 3, 2024 at 5:30pm CEST / 11:30am ET / 8:30am PT.

Send us an email or connect via chat if you prefer to purchase the report via invoice.

A big picture view of the AI ecosystem is presented. We illustrate how changes at any layer of the AI stack — infrastructure, data, models, and applications — have significant implications for both buyers and providers.

Focusing on language service providers, the report looks at how LSPs are responding to this era of transition. The report analyzes growth and market share per segment, and explores how LSPs are expanding their AI service portfolios and strategically repositioning.

The impact of large language models on technology providers and platforms is revealed. We share insights from leading machine translation providers. The report also examines how TMS providers have recast their products to foreground AI.

The report considers the competitive position of emerging language AI startups, along with the normalization of “language-as-a-feature”, and outlines the implications of these trends for the broader language industry.

A major growth vector for the industry — multilingual AI content — is explored in depth. The report reveals the current level of buyer demand and lists concrete use cases. 

Advances in voice AI are driving a rise in AI dubbing and real-time speech translation, unlocking new use cases, and the report unpacks the practical applications of these AI services.

The results of Slator’s survey on linguist AI adoption are also revealed.

As a key tool for sales and business development professionals, the report includes a section on how to understand client needs and add value in the current era.

Additionally, the report shares the results of Slator’s survey on pricing models, presenting insights into established and emerging approaches to pricing in the AI era.

Lastly, a market outlook is presented — with market size projections for 2025 and a five year period — and we outline the segments of the industry best positioned to win in the midterm in this era of AI-driven change.

Table of Contents

Executive Summary5
Language Services Industry Analysis6
Market Size
Market Analysis Framework
Market Size by Vertical
Growth by Vertical
Market Size per Geography
Market Size by Region
Growth per Region
Top 10 Countries by Market Size
Market Size by Buyer Intention
6
7
8
9
11
12
14
18
18
Competitive Landscape: Language Service Providers21
Language Service Providers
LSP Global Expansion & Workforce
Key Events in the Language Industry 2023 – 2024
22
26
29
Competitive Landscape: Interpreting30
Trends in Interpreting30
Demand for Language Services in 202434
Machine Translation39
Machine Translation Market Size
The Impact of LLMs on Machine Translation
Machine Translation 2024 Survey Results
41
41
42
Translation Management Systems47
The Future of TMS
Integration and Customization of MT Models and LLMs
48
52
Language AI in 202458
The AI Opportunity for the Language Industry
Language AI Startups and “Language as a Feature”
60
61
The Language AI Stack66
AI Infrastructure
Data-for-AI
Foundation Models
Language AI Foundation Models
68
69
71
72
AI Content Generation74
AI Dubbing for Multilingual Video77
Real-Time Speech Translation81
Advances in Voice AI84
Buyer Perspective on Language AI86
Enterprise Buyer AI Maturity
How Enterprise Buyers Access Language AI
Buyer Demand for Language AI
87
88
90
LSP AI Strategies92
LSP Adoption of LLMs
Slator 2024 LSP Language AI Survey
LSP Strategic Repositioning
LSP Promotion of AI Services
92
95
97
99
Linguist AI Adoption102
Pricing for the AI Era105
Emerging Pricing Models & Trends111
Sales Strategies for LSPs112
Cross-Sell and Up-Sell Opportunities
Building Solutions
112
114
M&A and Funding120
Language Industry M&A
M&A and Funding Outlook
121
126
Market Outlook 2024128
Macro Risks, Historical Resilience, and the AI Factor
Growth Sectors, Markets, and Niches
129
131
Appendices133

How to Use This Report

Slator’s easy-to-digest 2024 Language Industry Market Report — Language AI Edition offers the very latest industry and data analyses, providing language service providers, end clients, and investors the confidence to make informed and time-critical decisions. It is a cost-effective, credible resource for busy professionals.