Common Sense Advisory recognizes Houston-based company as leader
in $38.16 billion global language services industry
MasterWord Services Breaks Into Top 10 Language Services Providers in North America
(Houston, TX) July 23, 2015 – Houston-based MasterWord Services, Inc. (MWS) has been named one of the Top 10 largest language services providers (LSPs) in the translation and interpretation industry in North America. The prestigious ranking, issued this month by independent market research firm Common Sense Advisory (CSA Research) in its “The Language Services Market: 2015” Report, positions MWS as a top-grossing language service provider in the $38.16 billion global market for outsourced language services and technology.
“We are honored to be recognized among the top 15 largest Language Service Providers in North America as well as among the top 50 in the World,” said MasterWord President, CEO, and Founder of MasterWord Services, Ludmila Golovine. “Our mission is to connect people across language and culture, and this recognition is an inspiration for our team to continue to provide industry-leading customer experience and innovative language access solutions.”
CSA Research, which has published market size estimates and global rankings for the past 10 years, found the demand for language services continues and is growing at an annual rate of 6.46 percent. As part of the study, the firm surveyed language service providers to collect actual reported revenue for 2013, 2014, and expected revenue for 2015.
MasterWord Services, ranked in the Top 15 LSPs last year, is a leading provider of industry-specific language solutions including translation, interpretation, language proficiency and assessments, language access compliance consulting, and cross cultural training, and has the prestigious ISO 9001:2008 certification. This marks the third consecutive year Common Sense Advisory has recognized MasterWord.
“The market for outsourced language services and supporting technology is immensely important to the businesses, government agencies, non-profits, and individuals that produce or consume information,” said CSA Research founder Don DePalma. “As organizations both large and small address more languages, we predict that the industry will continue to grow and that the market will increase to $49.8 billion by 2019.”
The full report, including all regional rankings, is available as part of the firm’s research membership.