Moreover, the increasing need for language services pertaining to international business tourism, medical tourism, leisure tourism, on-site work stays, etc., is also catalyzing the market. Apart from this, the increasing investments in the field of language services coupled with the rapid influx of translation and interpretation outsourcing have also contributed to the strong market growth. Furthermore, the growing consumer inclination towards language services for multilingual and cross-cultural communication to create an efficient and quicker learning platform has also led to its increasing global adoption.Īdditionally, the rising influence of social media platforms resulting in the popularity of visual translations and content localization, is also driving the demand. This provides convenience to their international clients and allows companies to efficiently express their services. With increasing geographical outreach, various companies are opting for translation services. In addition to this, rapid globalization coupled with improving internet connectivity has further augmented the growing need for language services.
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The rising demand for language services can be attributed to the rapid advancements in the IT and telecommunication industry leading to software development for accurate translation and interpretation results. Owing to this, language services are widely employed across diverse sectors, including legal, medical, IT and telecommunication, education, automotive, and BFSI Further, the adoption of these services promotes the integration of technology with human communication. Language services provide several benefits, such as effective communication, wide geographical outreach, high accuracy rate, skill development, along with offering a highly interactive learning platform to the users. They include a wide range of electronic, written, and multimedia materials for transcription, dubbing, narration, voice-over, etc. Language services stand for the set of language assistance solutions that offer varying degrees of interpretation, translation, comprehension, localization, and other training services. These insights are included in the report as a major market contributor Keeping in mind the uncertainties of COVID-19, they are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries.
Looking forward, the publisher expects the market to reach US$ 96.1 Billion by 2027, exhibiting a CAGR of 7.5% during 2022-2027. The global language services market reached a value of US$ 62.6 Billion in 2021.
Dublin, Ma(GLOBE NEWSWIRE) - The "Language Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to 's offering.
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