Amplexor’s official ranking as 9th largest language services providers (LSPs) in the world was announced by the independent market research firm Common Sense Advisory (CSA Research).
The report titled The Language Services Market: 2016 ranked Amplexor as a top-grossing language service provider in the US$40.27 billion global market for outsourced language services and technology. Amplexor was named as the 9th largest Language Service Provider in the world and 3rd in Western Europe.
CSA Research, which has published market size estimates and global rankings for the past 11 years, found that the demand for language services continues, and is growing at an annual rate of 5.52%. As part of the study, the firm surveyed language service providers to collect actual reported revenue for 2014, 2015, and expected revenue for 2016.
As organizations both large and small address more languages, the firm predicts that the language services industry will continue to grow and that the market will increase to US$45 billion by 2020. Factors driving this demand include continued growth in global mobile and ecommerce; the internet of things (IOT); and legislation requiring access to language services for immigrants, refugees, in the courts, and for public safety.
“Demand continues because the market for outsourced language services and supporting technology is immensely important to the businesses, government agencies, non-profits, and individuals that produce or consume information,” adds Don DePalma, CSA Research’s founder and Chief Strategy Officer.