$10.7bn
$X.Xbn
133k
78,645
$X.Xbn
Translation services have enjoyed solid growth through the past five years as domestic clients looked to diversify revenue streams by capturing demand in new foreign markets. Tensions abroad have highlighted the need for interpreters to help government officials broker trade deals and diplomatic agreements. The US's relationship with China has continued to deteriorate, boosting revenue for translators working in various East Asian languages. Overall, industry revenue has climbed at a CAGR of 1.1% to an estimated $8.4 billion over the five years through 2024.
Industry revenue has grown at a CAGR of 5.9 % over the past five years, to reach an estimated $10.7bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Transperfect Global, Inc. | 762.3 | 53.5 | 7.0 | |
Teleperformance S.A. | 490.2 | 26.7 | 5.4 | |
Lionbridge Technologies, Inc. | 276.4 | 19.6 | 7.1 |
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Industry revenue is measured across several distinct product and services lines, including Written translation services, Interpretation services and Other. Written translation services is the largest segment of the Translation Services in the US.
Interpreters provide critical services throughout delicate negotiations
This industry includes companies that translate written material and interpret speech from one language to another. It also includes companies that provide sign language services. Translation services offer document translation and website localization, which is the translation of website information into languages for use in other countries, considering any unique cultural and linguistic traits.
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NAICS 54193 - Translation Services in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Defense agencies are investing in translators to navigate deteriorating US-China relations. Translators focused on Mandarin Chinese, Russian, Farsi and Urdu benefit the most.
Learn about an industry's products and services, markets and trends in international trade.
Interpreters help companies and diplomats work through delicate negotiations with foreign parties. Written translators provide editing and review for documents or analyze int...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Regions with high immigrant populations, like the West and Southeast, rely on translation services to translate government information. Local governments must give non-Engish...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Companies can hire bilingual employees for projects that may require translating. The employee fills two roles as a worker and translator, eliminating the need to contract tr...
Learn about the performance of the top companies in the industry.
Organic growth helped TransPerfect become the first language service provider to pass $1.0 billion in revenue. The translation services giant’s performance gives insight into...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Interpreters' ethics ensure client-interpreter confidentiality to protect clients' personal information. Many translation services contracts involve a non-disclosure agreemen...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit has climbed as translators have integrated technology. Wage expenditures are shrinking as translation services rely more on machine-assisted translators, but skilled e...
Including values and annual change:
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Key data sources in the US include:
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These sources include:
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The market size of the Translation Services in the US industry in United States is $10.7bn in 2024.
There are 78,645 businesses in the Translation Services in the US industry in United States, which has grown at a CAGR of 5.6 % between 2019 and 2024.
The market size of the Translation Services in the US industry in United States has been growing at a CAGR of 5.9 % between 2019 and 2024.
Over the next five years, the Translation Services in the US industry in United States is expected to grow.
The biggest companies operating in the Translation Services market in United States are Transperfect Global, Inc., Teleperformance S.A. and Lionbridge Technologies, Inc.
Language interpretation services and Translation language services are part of the Translation Services in the US industry.
The company holding the most market share in United States is Transperfect Global, Inc..
The level of competition is moderate and increasing in the Translation Services in the US industry in United States.