How big is the American Translation market?
Despite the current economic situation, the translation industry has done well over the past few years (annual growth rate has been greater than 2.5%).
This can be explained by different factors. First, more and more immigrants come to the United States without necessarily being capable of speaking fluent English. Then, more and more American companies do business with overseas companies and consequently have to communicate regularly in several languages with customers, partners or employees located in other countries. Finally, a great deal of business is generated from the government and in particular, the military.
Nowadays, the American translation market is the largest single market for translation services (Europe is the second)
What is the value of the American Translation market?
Today, more than 52,500 companies employing more than 74,600 people generate $5 billion a year. According to the U.S. Bureau of Statistics, the translation industry is expected to grow by 42% between 2010 and 2020 and reach $37 billion in 2018.
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