What Are The Top 10 Markets for Translation Services

What Are The Top 10 Markets for Translation Services

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 analyzes the market from three perspectives — vertical, buyer intention (i.e., the drivers for enterprises to purchase language services), and geography.

Four verticals — Life Sciences, Aerospace & Defense, Finance, and Public Sector — saw year-on-year growth in 2023. Technology and Media contracted significantly, however.

“Accessing a market” and “regulatory compliance” were the top two drivers for the purchase of language services and technology in 2023.

Looking at the market through a geographic lens, the market is dominated by the North American region, comprising around 40% market share. The next largest region is Europe, followed by Asia.

In this article, we take a closer look at the market from a country perspective, listing the top ten countries in terms of market share.

    1. United States

    With a market size of USD 9.02bn in 2023, according to Slator, the US makes up one-third of the language services and technology market.

    The technology and engineering verticals are particularly dominant in the US. Moreover, the country’s language access legislation underpins a large market for interpreting and translation settings in healthcare, legal, and other services settings.

    2. Germany

      Germany is the second-largest market for language services and technology. Germany is sized at USD 1.97bn in 2023, that is, around a quarter of the size of the US.

      3. Japan

      Japan represents the third-largest market by country. Japan’s language services and technology market is sized at USD 1.77bn in 2023.

      4. United Kingdom 

      The market for language services and technology in the United Kingdom is USD 1.51bn in 2023, according to Slator’s analysis.

      5. Canada

      Canada is the fifth-largest language services market, with a market size of USD 1.30bn in 2023. In terms of year-on-year growth, Canada performed above the global market in 2023.

      6. China

      China represents the sixth-largest language services and technology market, sized at USD 1.25bn in 2023. China’s language services market is highly fragmented and the country has a higher proportion of domestic spend compared to other large markets.

      7. France

      The market size for language services and technology in France was USD 1.19bn in 2023, according to Slator. The French market is notable for its leading media localization providers.

      8. Italy

      Italy was the eighth largest market for language services and technology in 2023, in terms of countries, sized by Slator at USD 0.57bn.

      9. Spain

      Spain outperformed other European countries in 2023 in terms of year-on-year growth. According to Slator’s analysis, Spain’s market size for language services and technology in 2023 was USD 0.52bn.

      10. Netherlands

      Sized by Slator at USD 0.46bn, the Netherlands was the tenth largest market (by country) for language services and technology in 2023.

      For a more in-depth analysis of the language services and language technology market, obtain a copy of the Slator 2024 Language Industry Market Report

      The Slator market report includes market size figures for all G20 countries (plus Switzerland and Norway), along with growth per country and region. 

      The report also includes an analysis of the market outlook, including projected growth for 2024 and a five-year growth projection to 2028.