Market research firm Common Sense Advisory recognizes 1-StopAsia as a leader in $46.52 billion global translation, localization, and interpreting services industry
(USA) – 1-StopAsia announced today its official ranking as one of the largest language service providers (LSPs) in the global translation and interpreting industry. Issued June 2018 by independent market research firm Common Sense Advisory (CSA Research), “The Language Services Market: 2018” ranked 1-StopAsia as a top-grossing LSP in the US$46.52 billion global market for outsourced language services and technology. 1-StopAsia was named 20th largest in North America and the 97th largest LSP in the world.
1-StopAsia is a translation company working exclusively for translation companies and specializes in Asian languages. It is located on three continents and has 9 offices around the world. The company has been growing since 1998 and its founder is Don Shin, who is also its current CEO.
1-StopAsia has reached significantly higher (13 positions ranking 20th in TOP 30 largest in North America) since 2017 CSA research, when we were ranked at 33rd position.
As part of the primary quantitative study, CSA Research surveyed providers from around the world to collect actual reported revenue for 2016, 2017, and expected revenue for 2018. The firm details the findings in the 14th annual global industry report, “The Language Services Market: 2018,” the only comprehensive global survey of private and publicly-traded language services and technology companies. The firm found that the demand for language services and supporting technologies continues and is growing at an annual rate of 7.99%, representing an increase over last year’s rate of 6.97%.
The CEO of 1-StopAsia, Don Shin, comments: “Ranking 1-StopAsia as one of the leading translation agencies for Asian languages comes as a result from one single rule: Our clients are the main focus for everyone on our team and the driving force for our progress. We will continue building partnerships as we have done for 20 years because we believe that those partnerships and happy customers are the true measure of success.”
Sixty-four percent of surveyed language services providers (LSPs) said revenue was up over the previous year. Factors driving this demand include content digitization, personalized customer service, and business globalization. As organizations both large and small make their products and services available in more languages, the firm predicts that the language services industry will continue to grow and that the market will increase to US$56.18 billion by 2021.
“As businesses optimize their customer experience in home markets through digitization, companies are under pressure to globalize their entire operations. Our research has long and conclusively demonstrated that people are much more likely to purchase products in their own language. In addition, that same content and product localization reduces customer care costs and increases brand loyalty,” explains Dr. Donald A. DePalma, CSA Research’s founder and Chief Strategy Officer.
About 1-StopAsia
1-StopAsia is among the leading Language Service Providers of Asian languages translation in the world. Established in 1998 it has been constantly growing and throughout the year has managed to establish many successful partnerships all over Europe and US. Since the beginning, 1-StopAsia is abiding a few single rules created by its CEO Don Shin, which help the company to grow steadily and span over 3 continents with 9 offices around the world.
About Common Sense Advisory
Common Sense Advisory (CSA Research) is the premier market research firm specializing in the language services and technology industry. It provides primary data and insight to assist companies with planning, brand strategy, innovation, competitive positioning, and better understanding of global markets. www.commonsenseadvisory.com
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