This is part one to a five part series. Stay tuned while we debunk the top 5 Myths regarding the Translation Service Industry.
Myth 1: Translation Service is a small market. Translation service is a global market. According to the Common Sense Advisory, the market for outsourced language services was worth US$33.523 billion in 2012, and it is continuously growing! More specifically, the language service market is growing at an annual rate of 12.17%. As the world continues to become more globalized, the demand for translation services will continue to grow. Globalization affects most, if not, ALL industries. Quite often the companies that fail to expand into a global market fall behind in any industry.
Developing into an international market can be greatly beneficial towards the growth of a company’s customer base and for improving sales and revenue. Also, by becoming globalized, companies can reduce the risk of falling alongside a specific country’s financial instability.
The world of translation services helps to bridge the communication gaps that often exist between businesses and clients. Many companies find themselves with a need to expand on a global scale in an early stage. These are the companies that prove to be the most successful, and by becoming global, they often increase their revenue exponentially.
thebigword first launched in 1980 with the intention to offer the highest quality customer service across both recruitment and language services. In 1996 the decision was made to sell the recruitment division and focus on language services. This allowed us to be able to advance as one of the world’s leading global providers. As technology was advancing, we did as well. We developed international teams and were considered a pioneer within the industry. In just 30 years we were able to develop into a multinational corporation with a global network of around 8,000 linguists in 77 different countries worldwide across 53 industries.
COMING SOON: Myth 2 Debunked: Interpreters and Translators are one in the same.
The rest of the “Debunking 5 Myths of the Transltion Service Industry” Series
Debunking 5 Myths about the Translation Service Industry (part 1)
Debunking 5 Myths about the Translation Service Industry (part 2)
Debunking 5 Myths about the Translation Service Industry (part 3)
Debunking 5 Myths about the Translation Service Industry (part 4)
Debunking 5 Myths about the Translation Service Industry (part 5)