WALTHAM, Mass., July 12, 2016 /PRNewswire/ -- Lionbridge Technologies, Inc. (NASDAQ: LIOX), announced today its official ranking as one of the largest language services providers (LSPs) in the translation and interpreting industry. Issued July 2016 by independent market research firm Common Sense Advisory (CSA Research), the report titled "The Language Services Market: 2016" ranked Lionbridge as the top-grossing language service provider in the US$40.27 billion global market for outsourced language services and technology. Lionbridge was named as the largest localization vendor in the world and in North America.
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.
Lionbridge leads the language services industry in market share due to a healthy growth strategy and demand their portfolio of professional translation and localization services, including its OnDemand translation solution, global product testing, multilingual customer support and global content creation.
"It's an honor and a testament to our strong performance that we've topped CSA's list once again," comments the Chairman and CEO of Lionbridge, Rory Cowan. "Our language solutions enable our customers to embrace globalization and provide exceptional customer experience in all markets. We're committed to pushing the translation industry forward through innovation, with first-to-market offerings like our OnDemand digital platform. It is a great achievement to top the Common Sense Advisory list and I'm very proud of the work we are doing."
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, Chief Strategist and Founder, Common Sense Advisory.
About Common Sense Advisory
Common Sense Advisory is an independent market research company helping companies profitably grow their international businesses and gain access to new markets and new customers. Its focus is on assisting its clients to operationalize, benchmark, optimize, and innovate industry best practices in translation, localization, interpreting, globalization, and internationalization. For more information, visit: http://www.commonsenseadvisory.com or www.twitter.com/CSA_Research.
Lionbridge enables more than 800 world-leading brands to increase international market share, speed adoption of products and effectively engage their customers in local markets worldwide. Using our innovative cloud technology platforms and our global crowd of more than 100,000 professional cloud workers, we provide translation, online marketing, global content management and application testing solutions that ensure global brand consistency, local relevancy and technical usability across all touch points of the customer lifecycle. Based in Waltham, Mass., Lionbridge maintains solution centers in 27 countries. To learn more, visit www.lionbridge.com.
CSA Research media contact: Melissa C. Gillespie, [email protected]
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SOURCE Lionbridge Technologies, Inc.