Translation and Interpretation Services
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 2,700 translation and interpretation service providers in the US translate written material, interpret speech from one language to another, and offer sign language services. Specific services include localization (adapting digital content for a specific market), transcription, subtitling, voiceover/dubbing, and language testing or training.
Dependence on a Highly Skilled Workforce
Translation and interpretation agencies and companies rely on highly skilled workers to provide services.
Industry Growth
Globalization and increasing diversity within the US population has boosted demand for translation and interpretation services.
Industry size & Structure
The average translation and interpretation service provider operates out of a single location, employs fewer than 5 workers, and generates $2.4 million annually.
- The US translation and interpretation services industry consists of 2,700 firms that employ 37,000 workers and generate about $6.5 billion annually.
- The global language service provider (LSP) industry is estimated to be worth more than $59 billion, according to the Business Research Company.
- The industry is concentrated at the top; the top 50 companies account for 68% of industry revenue.
- Types of companies include multi-national firms, language technology firms, local agencies and freelance interpreters and translators.
- Large firms include TransPerfect, Lionbridge, and LanguageLine Solutions (Teleperformance).
Industry Forecast
Translation and Interpretation Services Industry Growth
Recent Developments
Mar 22, 2025 - AI-Driven Live Interpretation Technology Is Transforming Real-Time Interactions
- The use of artificial intelligence (AI) in real-time interpretation is a recent phenomenon that presents opportunities and challenges for translation and interpretation services, according to customer experience technology firm CX Today. Multilingual support traditionally involved either human interpreters or automated systems that often failed to meet the speed and accuracy required in a high-pressure customer service environment but the rise of AI-driven live interpretation enables understanding and translation of customer speech in real time. AI-driven interpretation also reduces the time needed for back-and-forth communication and removes the risk of misunderstandings that can arise from human translators, according to CX Today.
- Some deaf federal employees at some agencies can’t access American Sign Language interpreting services and other accommodations following President Trump’s orders to remove all positions related to diversity, equity, inclusion and accessibility, according to advocates working with deaf federal employees and interpreters. The White House has not provided ASL interpretation at its news conferences or broadcasts either, and there are no ASL interpretations on videos posted to its YouTube channel. The accessibility section of the White House website has also been taken down. Failure to provide interpreting services to deaf employees may be a violation of Section 501 of the Rehabilitation Act of 1973, a federal law that mandates the government to provide reasonable accommodations to its employees, and the Americans with Disability Act, which prohibits discrimination and mandates equal access to those with disabilities, according to legal experts contacted by the Washington Post.
- Netflix is working to improve the quality of dubbing and translation to widen the cross-border appeal of foreign-language programs, according to The Wall Street Journal. Netflix has focused on South Korean programs after the success of Squid Game, the streamer’s most widely-viewed show ever. Using South Korea as a test case, Netflix has employed hundreds of voice actors worldwide and is training them in Korean cultural nuance and traditions to offer more authentic and appealing dubs. The firm aims to leverage the cross-cultural appeal of South Korean reality shows, such as physical competitions, dating programs, and game shows, as they tend to cost much less than scripted programming. Netflix content is available in over 30 languages, and non-English offerings account for a third of its viewing.
- Translation and interpretation service industry employment decreased slightly and average wages for nonsupervisory employees increased slightly during the first month of 2025, according to the US Bureau of Labor Statistics. Translation and interpretation service industry sales are forecast to increase at a 0.31% compounded annual rate from 2025 to 2029, slower than the growth of the overall economy, according to Inforum and the Interindustry Economic Research Fund, Inc.
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