CPSL Ranked Among Southern Europe’s Largest Languages Services Providers
Independent market research firm Common Sense Advisory recognizes the Spanish Language provider as a leader in $43.08 billion global translation, localization, and interpreting services industry
CPSL, Boston. Common Sense Advisory announced this week its official ranking of the largest language services providers (LSPs) in the global translation, localization, and interpreting industry. Issued July 2017 by this independent market research firm (CSA Research), the report titled “The Language Services Market: 2017” ranked CPSL as a top-grossing LSP in the US$43.08 billion global market for outsourced language services and technology. CPSL was named as the 4th largest language services vendor in Southern Europe and amongst the first 100 largest LSP in the world.
As part of the study, the firm surveyed providers from every continent to collect actual reported revenue for 2015, 2016, and expected revenue for 2017. CSA Research, which has published market size estimates and global rankings for the past 13 years, found that the demand for language services and supporting technologies continues and is growing at an annual rate of 6.97%, representing an increase over last year’s rate of 5.52%.
As organizations both large and small make their products and services available in more languages, the firm predicts that the language services industry will continue to grow and that the market will increase to US$47.46 billion by 2021. Factors driving this demand include mobile, wearables, and the internet of things (IOT); on-demand offerings to support live chat, texts, tweets, and other short-shelf content bits; and legislation requiring access to language services.
“The sheer number of countries, people, and languages – many of them in markets experiencing tremendous economic growth – assures that demand for language services will only increase over time. As our research conclusively demonstrates, people are much more likely to purchase products in their own language. In addition, localization reduces customer care costs and increases brand loyalty,” explains Don DePalma, CSA Research’s founder and Chief Strategy Officer.
About Common Sense Advisory: Common Sense Advisory is an independent market research company specializing in translation, localization, interpreting, globalization, and internationalization analysis and consulting. www.commonsenseadvisory.com / @CSA_Research
About CPSL: CPSL is a group of private companies that has been operating in the language services sector since 1963. The group is made up of Barcelona-based Celer Pawlowsky S.L., the parent company, CPSL Documentation & Tools in Ludwigsburg, operating in the Stuttgart area in Germany, and CPSL USA Corporation, located in Boston in the United States. With a history spanning more than 50 years, CPSL is one of the longest-serving companies in the translation industry. Its teams serve thousands of clients and manage around 7,000 projects a year. Many CPSL clients have been with the company for over 10 years, demonstrating the company’s ability to adapt to the ever-changing global market and to build strong and reliable partnerships with its clients in their global ventures. CPSL is among a select number of language service providers that are triple quality certified, including ISO 9001, ISO 17100 and ISO 13485 for medical devices.