Market research firm Common Sense Advisory recognizes Tetras as a leader in $46.52 billion global translation, localization, and interpreting services industry
June 26, 2018 – Munich Germany: Tetras announced today its official ranking as one of the “largest language service providers” (LSPs) in the global translation and interpreting industry. Issued June 2018 by independent market research firm Common Sense Advisory (CSA Research), “The Language Services Market:2018” ranked Tetras as a top 100 language service providers in the US$46.52 billion global market for outsourced language services and technology. Tetras was named as the 91st LSP in the world and 23rd largest in the region of Western Europe.
Tetras Translations is an international company with 20 years of experience in the area of technical translation. Company takes over all professional technical interpretation requests, all translations, localization, DTP services and services in the area of technical documentation.
As part of the primary quantitative study, CSA Research surveyed providers from around the world to collect actual reported revenue for 2016, 2017, and expected revenue for 2018. The firm details the findings in the 14th annual global industry report, “The Language Services Market: 2018,” the only comprehensive global survey of private and publicly-traded language services and technology companies. The firm found that the demand for language services and supporting technologies continues and is growing at an annual rate of 7.99%, representing an increase over last year’s rate of 6.97%.
Comments by Peter Zoricak, the CEO of Tetras
„Our work process according to ISO standards 9001:2008 and 17100:2015 guarantees high quality of every delivered project. Tetras project managers take active part in the proofing processes. This includes the monitoring of appropriate application of work processes and their compliance with the documented information. We have been working hard last years and every year we look forward to not only improve our ranking, but also end up with a better score.”
Sixty-four percent of surveyed language services providers (LSPs) said revenue was up over the previous year. Factors driving this demand include content digitization, personalized customer service, and business globalization. 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$56.18 billion by 2021.
“As businesses optimize their customer experience in home markets through digitization, companies are under pressure to globalize their entire operations. Our research has long and conclusively demonstrated that people are much more likely to purchase products in their own language. In addition, that same content and product localization reduces customer care costs and increases brand loyalty,” explains Dr. Donald A. DePalma, CSA Research’s founder and Chief Strategy Officer.
About Tetras Translations
As an international company with headquarters in Munich and other branch offices in the USA, Slovakia, the Czech Republic and Poland, you can find Tetras clients in all continents of the world. Tetras works with translators, revisers, professionals, specialists and scientists from more than 40 countries, who are always native speakers of the desired target language. With 1,102 professionals in 5 branch offices worldwide and 436 language combinations for more than 2,955 clients, Tetras belongs to the top 100 language service providers in the world since 2012.
About Common Sense Advisory
Common Sense Advisory (CSA Research) is the premier market research firm specializing in the language services and technology industry. It provides primary data and insight to assist companies with planning, brand strategy, innovation, competitive positioning, and better understanding of global markets. www.commonsenseadvisory.com
|Tetras Media Contact:|
|Rupert Meyer Straße 44|
|813 79 Munich|
|Phone: +49 89 716 7216 20|
|CSA Research Contact: firstname.lastname@example.org|