The language services market is booming, with projections showing a jump from $58.05 billion worldwide in 2024 to $61.87 billion in 2025 – a compelling 6.6% annual growth. A recent report from The Business Research Company (February 26th) highlights the strong demand emanating from the publishing, media, and entertainment industries, along with travel and hospitality. This growth presents significant opportunities, driven not only by industry trends but also by evolving legal frameworks, socio-economic developments, and the increasing emphasis on diversity and inclusion within organizations.
Language Access in High Demand Across Various Sectors
A 10% annual compound growth rate is projected for the language services market over the next five years, potentially reaching $90.82 billion in 2029. Key growth drivers include language access in healthcare, multilingual customer support, government communication, and audiovisual translation.
The study also indicated an overall growth in services and technologies in use. The services segment is expected to see increased demand for translation and transcreation, interpreting, and localization services, among others. Industries such as IT and communication, retail, government, automotive, and healthcare will be the first recipients of these services needs in the near future.
AI integration in full or hybrid translation methods is also expected to continue its impact on the market, particularly in areas such as e-learning, real-time customer support and virtual assistant embedding products, and voice and speech recognition technologies. While AI integration gained traction in 2022, with early adoption by social media platforms like Meta Inc. (which introduced an AI-driven speech translation device), the focus was primarily on speech-to-speech communication rather than written forms.
For over 40 years, Universe Technical Translation has provided various industries, including energy, education, healthcare, and government-related organizations. We continuously exceed our clients’ requirements through rigorous processes, offering critical resources for their growth and adoption of new technology. We recognize the emerging trend in language service needs starting this year.
