The global language services market was valued at USD 49.6 billion in 2020 and is expected to grow to USD 66.6 billion by 2024.

(Source: Language Insight)

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The translation industry has seen a rise in the use of machine translation, translation software, and translation memories.

(Source: Redokun Blog)

Europe owns nearly half of the global language services market at 49%, with North America following at 39.41%.

(Source: Redokun Blog)

The translation services market size was valued at USD 39.37 billion in 2020 and is projected to reach USD 46.22 billion by 2028.

(Source: The Future of Translation)

The employment of interpreters and translators is projected to grow 20% from 2019 to 2029, much faster than the average for all occupations.

(Source: My Language Connection)

The global language services industry was worth approximately US 469 billion in 2019.

(Source: My Language Connection)

The number of people employed in the translation industry doubled between 2013 and 2020.

(Source: My Language Connection)

The global translation industry is predicted to continue its growth in 2021, with estimates predicting it would be worth 56.1 billion by the start of the year.

(Source: Tumblr Telegram)

The translation industry has seen a surge in demand for services, growing from 54.8 billion USD in 2019 to 56.18 billion USD in 2021.

(Source: My Language Connection)

The global language services market is expected to grow at a CAGR of 5.94% from 2022 to 2026.

(Source: MarketsandMarkets)

AI-powered translation tools are 2-3 times faster than human translators, but they are not expected to replace human translators completely.

(Source: AIRA)

The use of AI in translation has resulted in a 30-50% decrease in translation costs for businesses.

(Source: Deloitte)

Human translators with AI-powered tools can achieve up to 80% increase in productivity compared to traditional translation methods.

(Source: Common Sense Advisory)

The market for AI-powered translation tools is expected to grow at a CAGR of 27.6% from 2021 to 2028.

(Source: Grand View Research)

AI-powered translation tools can handle large volumes of content quickly and at a lower cost compared to human translators.

(Source: Gartner)

The translation industry is experiencing a skills shortage, with demand for translators expected to outpace supply in the coming years.

(Source: The Economist)

Post-editing of machine-translated text has become a growing field for professional translators, allowing them to work on higher volumes of content.

(Source: Common Sense Advisory)