Where Is the Billion Dollar Language Service Provider?
Monday, July 23, 2018
Posted by: Jennifer Olivares
The language services and technology market is huge and very traditional (read “old fashioned”). The market is worth between USD 40-45bn a year, depending on who you ask, and is serviced by 21,000+ language service providers (LSPs) and about 600,000 linguists, most of them freelancers, in almost every country in the world.
The industry is highly fragmented and the top 30-50 LSPs only control about 15% of the market. This is unusual; consider the technology space for example, where a few top players control 80% or more of the market…think Facebook, Google, Amazon etc.