Analysis of the Market of Translation
Translation agencies provide technical translation and other related translation services. All of these fall into the broad and fast rising economic category of LSPs or language service providers. Language service providers are what many experts terms as service providers that thrive on the so-called human delivered services, with little help from machines. That makes the newly rising industry of language service providers a very young and interesting industry, comparable to other innovative and functional industries that have bourgeoned upon the rise of the World Wide Web.
In comparison to other industries and service providers in the market today, language service providers, according to the experts, are doing remarkably well for a newly rising industry. Specific companies providing language services might not be able to garner enough capitalization to match other leaders in the market, but all in all, the industry is quite robust because the supply and demand do not really fluctuate, and all is stable. There is also a rising need for localization and internationalization that all other newly established language service providers would be able to easily find a niche in the market, giving specific services to fill specific client needs.
It is said that the amount of capital that we are looking at here in terms of language service providers is between five hundred twenty million to five hundred ninety million US dollars. This makes it indeed a very big market and industry at the same time, because that is a significant amount of money being capitalized and circulated through the form of goods and services.
Some of the leaders in the industry of language service providers are the following: SDL International became an overnight legend because of its prior acquisition of one of the world’s most popular and most widely used translation memory tools: Trados. The Trados database system became popular because of its organic quality and its capacity to literally grow from continual use.
Another fast rising company is the SDI Media Group, whose main clientele are the guys from Hollywood and other such similar entities from other countries. They provide translation and subtitles for movies and other related media. Another giant in the language service provider industry is Xerox, which generates a significant amount of revenue from its capacity to localize different types of databases and platforms. Transware is another well known company, who has made business process outsourcing one of its main focuses after its revamp in the year 2005.
