Commonsense Advisory’s Annual “Ranking of Top 20 Translation Companies“ is out.
Regarding the methodology used, the authors Renato Beninatto and Donald A. DePalma write: “The guiding principle for which LSPs (Language Service Providers) we consider for this year’s Top 20 is simple – companies or divisions of companies that make most of their revenue by providing language services, be it in written or verbal form, on paper, over the web, in person, on video, inside software applications, on any continent.”
In conclusion, they note that “Across the market… demand is growing at 15 to 20 percent per year, driven by national regulations, website and product localization… and consumer need for more information in their own language… But at the same time… industry growth is holding steady at below 10 percent.”
And then: “Why this discrepancy? In this highly competitive market, most productivity gains benefit the customer, not the LSP. We do not find price erosion in core metrics like price per new word, but we do see the impact of translation automation and reduced publishing costs from XML conversion.
LSPs are literally doing more for less but for less effort. The 15-20 percent growth in overall demand translates into a blended 7.5 percent increase in revenue.”
Do you think “translation automation” could leave casualties in the ranks of freelance translators and/or interpreters working with these big LSPs? Well, you might not personally get hurt if you quickly upgrade from freelancer to entrepreneur, with your own LSP business and perfectly dominating your own niche market.
And this, my friend, is what “Translator Power” is all about!
Check out this report
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