The Slator Language Service Provider Index (LSPI) is a ranking and an index of the world’s largest translation, localization, interpreting, and language technology companies.
As in the 2021 edition, participants in the Slator 2022 LSPI are listed in order of revenue (in USD for 2021). The ranking is supplemented with information relating to each company, such as 2020 revenues, year-on-year growth, corporate headquarters, ownership, and financial year-end.
Consistent with previous years, Slator has segmented the landscape of providers into four distinct groups.
- Super Agencies – full-service, multi-vertical LSPs with revenues greater than USD 200m;
- Leaders – LSPs with revenues greater than USD 25m and that do not fall into the Super Agency category;
- Challengers – LSPs with revenues between USD 8m and USD 25m;
- Boutiques – LSPs with revenues between USD 1m and USD 8m.
Companies may choose to use the information as a benchmark for their own performance and growth, as an indication of the change in the language services industry, and as a starting point for evaluating strategic options including M&A.
- The 2022 LSPI features more than 300 companies, more than 100 of which are making their debut this year.
- The combined US-dollar revenue of Slator 2022 LSPI companies grew more than 22% in 2021 to nearly USD 9.5bn. This is an attractive headline rate — particularly given the continued challenges posed by Covid-19 in 2021. However, the following should be noted:
- A significant portion of this growth is the result of M&A-driven consolidation.
- We estimate organic growth across the ca. 300 companies featured in the low double digits.
- Inclusive of both M&A and organic growth, growth among the Super Agencies was 33%, compared to Leaders (18%), Challengers (14%), and Boutiques (16%).
- A small number of LSPs reported revenue declines in 2021: 10% of Leaders, 8% of Challengers, and 10% of Boutiques. None of the Super Agencies reported declines in 2021.
The Slator 2022 LSPI will be a useful resource for language industry stakeholders, such as service vendors, buyers, advisers, consultants, and investors when used in conjunction with Slator’s online news service and research, such as the recent Slator 2021 Language Industry M&A and Funding Report and other in-depth Data and Research.
The Slator 2022 LSPI contains two new fields: Top 3 Sectors and Headcount. Participants were given the choice to select the three sectors that are the most significant for their business as a percentage of revenue, out of a list of 10 end-customer segments. Participants were also invited — but not required — to insert the number of full-time equivalent (FTE) staff employed by the company as of year-end 2021.
The Slator 2022 LSPI is the industry’s first look at growth in 2021. We will publish a brand new Language Industry Market Report in late Q1 2022, with market-sizing and in-depth sectoral analysis.
The Slator LSPI contains 2021 and 2020 revenues (in USD) for each company as well as percentage growth, which is based on the original reporting currency. Commentary on 2021 performance data and organizational changes for each LSPI Super Agency and Leader is provided in the expanded records.
Search by tags or use the search bar. Click to expand company records.
A number of LSP records show the reporting status as “pending.” In many cases, this is because the company’s 2021 financial results have not been made available to Slator in time for the launch of the 2022 LSPI.
In such instances, LSPs have been included on the basis of their 2020 revenues. The 2021 revenues for these companies will be added to the Slator LSPI if and when they become available.
Caveats and Data Collection
Interested companies should contact Slator Research Director, Esther Bond, to submit their company for inclusion in the next update of the Slator 2022 LSPI. Please contact Slator Commercial Director, Andrew Smart, if you would like to discuss our advisory services, including a strategy review, senior management workshop, technology assessment, or custom industry research.
More than 260 LSPs participated in the initial launch of the 2022 LSPI. About 25 companies specifically declined to participate in the 2022 LSPI, including some featured in previous years.
- Unless otherwise noted, LSPI figures reflect revenues obtained for the company’s fiscal year and, therefore, do not always represent the calendar year.
- Figures are presented in the US dollar millions (USDm) for the purposes of the index.
- Where relevant, exchange rates are based on historical data for 2021 (December 31, 2021) and 2020 (December 31, 2020) figures.
- Unless otherwise noted, percentage growth is calculated based on the currency as reported to / obtained by Slator.
For the most part, Slator LSPI data is self-reported by the companies included and sense-checked by Slator. Where possible, the data has been independently verified by Slator using publicly accessible resources, such as annual reports filed with regulators or stock exchanges.
A number of companies that would otherwise be included in the Leader and Challenger groups are absent from the 2022 LSPI, such as —
Worldwide Language Resources (2017: USD 61.5m), Smartling, EasyTranslate (2019: USD 22.5m), Geneva Worldwide (2018: USD 12m), and FastTranslator.com (2018: USD 10.3m).
These companies are known to have significant revenues from language services, but did not submit their financial information for the 2021 LSPI and have not (as yet) submitted their financial information for the 2022 LSPI.
There is another subset of companies known to generate part of their revenues from language services that are not typically included in the LSPI (unless they are able to break out localization-related revenues).
These include the likes of media production companies, advertising companies, and government contractors, whose primary activity is not language services. Some are subsidiaries or divisions within companies that derive the main portion of their revenues from non-language-related activities.
Examples of such companies include Deluxe Entertainment Services Group (media production), Mission Essential Personnel (US government contractor), DXC Technology (end-to-end IT), translate plus (part of Prodigious), Datawords (digital content), Appen (language data), and Morningside (acquired by IP services provider Questel).