Stratus Video Named the 28th Largest Language Services Provider Globally

By David Fetterolf, Stratus Video President

Stratus Video recently made the Top 30 of this year’s Nimdzi 100 ranking of the largest language services providers in the world. Nimdzi is a market research and international consulting company made up of analysts, consultants, LSP experts, and researchers. Their leadership comes from diverse backgrounds in the language industry, and they know the marketplace well (source).

This year, Stratus Video ranked 28th on their list of largest language services providers in the world. To develop the ranking, Nimdzi researchers drew upon surveys, annual reports, public sector contract information, and interviews with in-country experts.

Here are some interesting facts from Nimdzi on the language services market:

"1,650+ companies

With at least 140,200 legal entities registered globally with “translation and interpreting” main activity, only about one company in eighty five in the language services business makes it past USD 1 million mark. 1,073 of them are based in Europe, the US, and Canada.

USD 53.5 billion

The estimated market size for language services that includes translation, interpreting, media localization, and respective technology. Not all of the volume is outsourced to commercial providers, landing the addressable market size at 60% of the total.

398,000+ professionals

Including 78,000 language service provider employees across the US, Europe, and Canada and an estimated 250,000 full-time professional translators, interpreters, and subtitlers.

One million colleagues

Including core professionals, personnel on the buyer side, and the casual and part-time translators, the language industry includes more than a million people in its gravitational pull.

531 technologies

We have identified 531 distinct language services technology brands available commercially so far, and numbers keep growing every year. Together, their sales reach about USD 780 million a year, about 1.5% of the industry total revenue." (source).

Stratus Video is proud  to have ranked so high in such a large market, and looks forward to growing even more in the years to come.

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