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Language Service Market is expected to generate a revenue of USD 129.64 Billion by 2031, Globally, at 7.41% CAGR: Verified Market Research®

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Verified Market Research® proudly announce the development and release of our latest market research report, focusing on the rapidly evolving Language Service Market. With globalization accelerating at an unprecedented rate, businesses are under increasing pressure to communicate effectively across linguistic and cultural barriers. Our report provides the industry’s decision-makers, investors, and strategists with critical insights into this dynamic sector, equipping them to capitalize on emerging opportunities.

LEWES, Del., Sept. 19, 2024 /PRNewswire/ — The Global Language Service Market Size is projected to grow at a CAGR of 7.41% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 77.06 Billion in 2024 and is expected to reach USD 129.64 Billion by the end of the forecast period.

Key Highlights of the Report:

Market Forecast & Growth Trends: A detailed analysis of the Language Service Market’s projected growth, providing a roadmap for businesses to navigate this thriving industry.Technological Disruption: Explore how AI-driven translation tools, machine learning, and automation are reshaping the language service landscape.Regional Market Insights: Comprehensive breakdowns of regional demand in North America, Europe, Asia-Pacific, and other key markets.Competitive Landscape: Profiles of major players, emerging firms, and key M&A activities shaping the competitive environment.Tailored Solutions for Enterprises: How leading businesses are leveraging language services to enhance customer experience and operational efficiency.

Why This Report Matters to Industry Leaders: In a globalized business ecosystem, access to accurate and timely language services is no longer optional—it’s a competitive advantage. From multinational corporations to tech start-ups, companies that invest in language solutions can expand their market presence, improve customer satisfaction, and ensure regulatory compliance across borders.

This report is an essential tool for industry executives seeking to:

Identify high-growth opportunities in translation, localization, and interpretation services.Optimize their global communication strategy using cutting-edge language technologies.Stay ahead of the competition by aligning with future market trends.

The Language Service Market is experiencing unprecedented growth, driven by increasing demand for multilingual content, international business expansion, and the rise of digital-first communication strategies. Now is the time for businesses to refine their global communication plans and ensure they are equipped to meet the challenges of an interconnected world.

Secure Your Competitive Edge Today

For those looking to lead in this high-demand market, our report offers the actionable intelligence needed to make data-driven decisions and achieve sustainable growth. Don’t miss this opportunity to stay ahead of the curve in a market that is shaping the future of global business.

For more information or to purchase the report, please contact us at: https://www.verifiedmarketresearch.com/download-sample?rid=10719

Browse in-depth TOC on “Global Language Service Market Size“

202 – Pages
126 – Tables
37 – Figures

Report Scope

REPORT ATTRIBUTES

DETAILS

STUDY PERIOD

2021-2031

GROWTH RATE

CAGR of ~7.41% from 2024 to 2031

BASE FOR VALUATION

2024

HISTORICAL PERIOD

2021-2023

FORECAST PERIOD

2024-2031

QUANTITATIVE UNITS

Value in USD Billion

REPORT COVERAGE

Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis

SEGMENTS COVERED

ServiceEnd-User

REGIONS COVERED

North AmericaEuropeAsia PacificLatin AmericaMiddle East & Africa

KEY PLAYERS

Acolad Group, Appen Limited, ATAP Co., Welocalize Inc., RWS Holdings PLC, Semantix AB, SDL PLC, STAR Group Worldwide, Thebigword, TransPerfect, Translate Plus, LanguageWire, Lionbridge Technologies, Honyaku Center, Bureau Van Dijk, Moravia IT, LanguageLine Solutions, GuidingStar

CUSTOMIZATION

Report customization along with purchase available upon request

Global Language Service Market Overview

Globalization and Cross-Border Business Expansion: The increasing trend of globalization has intensified the demand for translation services as enterprises enter foreign markets. The Language Service Market is set for significant expansion as organizations endeavor to localize content for diverse areas. Proficient communication in several languages is increasingly crucial for sustaining brand credibility, ensuring compliance, and augmenting client engagement across diverse areas.

Advancements in AI and Machine Translation: Advancements in artificial intelligence (AI) and machine translation technologies are transforming the Language Service Market. These innovations have markedly diminished translation durations, allowing firms to function more effectively. As artificial intelligence progressively improves the precision and efficiency of language services, corporations will increasingly allocate resources to these technologies, resulting in heightened adoption and expansion within the sector.

Rise of Digital-First Communication: The digital transformation in various industries has intensified the demand for real-time language services. Organizations depend on digital platforms for international communication, hence augmenting the demand for translation and interpretation services. This transition is especially vital for industries such as e-commerce, legal, and healthcare, where precise and prompt communication is essential. The Language Service Market is poised for growth as enterprises allocate resources to digital language solutions to maintain competitiveness.

To Purchase a Comprehensive Report Analysis: https://www.verifiedmarketresearch.com/select-licence?rid=10719

High Costs Associated with Quality Services: Notwithstanding the progress in AI and automation, superior language services continue to necessitate proficient humans. The expense associated with human translators and interpreters poses a significant challenge, especially for small and medium enterprises (SMEs). This constraint may impede market growth, as enterprises might be reluctant to spend in premium services, favoring more economical yet less precise alternatives, which could obstruct overall market progress.

Data Security and Privacy Concerns: The growing dependence on cloud-based translation services and digital platforms presents substantial issues with data security and privacy. In sectors like legal, banking, and healthcare, the necessity to safeguard sensitive information may impede the adoption of language services without stringent security protocols. As enterprises emphasize data safety, the Language Service Market may experience decelerated growth if these issues remain unaddressed.

Dependence on Technology and Lack of Human Touch: Although AI and machine learning have enhanced efficiency, numerous language services lack the sophisticated comprehension of context and cultural subtleties that human translators provide. This constraint can impact the accuracy of translations, especially in sectors demanding precision, such as legal and medical domains. The dependence on technology devoid of human supervision may hinder the expansion of the Language Service Market as enterprises pursue solutions that integrate automation with human proficiency.

Geographical Dominance

North America dominates the Language Service Market owing to its robust business environment and the necessity for multilingual communication in industries such as technology, healthcare, and legal services. Europe quickly follows, propelled by the region’s linguistic diversity and regulatory frameworks. The Asia-Pacific region is fast advancing due to the growth of cross-border trade. This geographical preeminence facilitates market expansion as enterprises prioritize worldwide outreach, hence amplifying the demand for localization services.

Key Players

The “Global Language Service Market” study report will provide a valuable insight with an emphasis on the global market.  The major players in the market are Acolad Group, Appen Limited, ATAP Co., Welocalize Inc., RWS Holdings PLC, Semantix AB, SDL PLC, STAR Group Worldwide, Thebigword, TransPerfect, Translate Plus, LanguageWire, Lionbridge Technologies, Honyaku Center, Bureau Van Dijk, Moravia IT, LanguageLine Solutions, GuidingStar.

Language Service Market Segment Analysis

Based on the research, Verified Market Research has segmented the global Language Service Market into Service, End-User and Geography.

Language Service Market, by Service:TranslationInterpretationOthersLanguage Service Market, by End-User:HealthcareIT and TelecomBanking, Financial Services, and Insurance (BFSI)GovernmentOthersLanguage Service Market, by GeographyNorth AmericaU.SCanadaMexicoEuropeGermanyFranceU.KRest of EuropeAsia PacificChinaJapanIndiaRest of Asia PacificROWMiddle East & AfricaLatin America

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Visualize Language Service Market using Verified Market Intelligence -:

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VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

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With a team of 500+ Analysts and subject matter experts, VMR leverages internationally recognized research methodologies for data collection and analyses, covering over 15,000 high impact and niche markets. This robust team ensures data integrity and offers insights that are both informative and actionable, tailored to the strategic needs of businesses across various industries.

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Blue Owl Capital Expands Tennis Player Sponsorship to All Grand Slam Tournaments in 2025

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11 minutes ago

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January 12, 2025

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Blue Owl to place logo patches on dozens of athletes competing across the Australian Open,
French Open, Wimbledon, and US Open

Jordan Thompson named as Blue Owl’s dedicated athlete ambassador for the Australian Open

NEW YORK, Jan. 12, 2025 /PRNewswire/ — Blue Owl Capital Inc. (“Blue Owl”) (NYSE: OWL), a leading alternative asset manager, announced today a marquee sponsorship agreement to expand their presence at all Grand Slam tournaments in 2025 and become the exclusive financial services partner for professional tennis’ Player Patch Program.

Blue Owl’s logo will be featured on the shirt of select players competing across men’s singles, women’s singles, mixed doubles, men’s doubles and women’s doubles competitions at this year’s Australian Open, French Open, Wimbledon, and US Open tournaments. In addition to Blue Owl’s presence on the courts, the firm will be featured in iconic Melbourne transit hubs, social media and digital media during the Australian Open in an effort to raise brand awareness within the country and the broader APAC market.

Blue Owl Chief Marketing Officer Suzanne Escousse said, “Just as Blue Owl is redefining alternative investing, we are supporting established and emerging professional players who are redefining the game of tennis. Tennis is a truly worldwide sport requiring peak performance in critical, high-pressure moments. This is the same ethos that underpins Blue Owl and allows us to focus on delivering results for our international client base. Following the success of our involvement with the Patch Program at the 2024 US Open, and given Blue Owl’s established presence within the country, Australia is the perfect place to kick off our presence across Grand Slam tournaments.”

Blue Owl has also partnered with Australian tennis professional Jordan Thompson, who will serve as the firm’s Athlete Ambassador at the 2025 Australian Open – January 12-26 in Melbourne. Most recently, Thompson won the men’s doubles at the 2024 US Open, where he was wearing a Blue Owl patch, and was a men’s doubles finalist at Wimbledon in 2024. He has also registered victories over several top-10-ranked opponents in singles competitions and previously represented Australia at the Olympics and the Davis Cup. Thompson will be one of several competitors wearing Blue Owl’s logo throughout the tournament.

Jordan Thompson said: “Blue Owl is focused on delivering excellence for its clients, which makes it a great fit for a partnership with professional tennis players. Support from firms like Blue Owl is tremendously beneficial for players who are preparing for career-defining events, especially the four Grand Slams. Our shared core values, including striving for success in every step of our journeys, whether that be in the financial services industry or competing as a professional athlete, is a perfect match. Alongside my coaches, my doubles teammate(s) and tennis fans, Blue Owl will play a key role for me here in Melbourne at the 2025 Australian Open.”

About Blue Owl

Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives.

With $235 billion in assets under management as of September 30, 2024, we invest across three multi-strategy platforms: Credit, GP Strategic Capital, and Real Estate. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.

Together with over 1,050 experienced professionals, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com.

Media Contact

Nick Theccanat
Principal, Corporate Communications & Government Affairs
Nick.Theccanat@blueowl.com

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SOURCE Blue Owl Capital

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Wayfair and Google Cloud Announce Expanded Partnership to Transform Online Retail with Gemini

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11 minutes ago

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January 12, 2025

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With Google’s advanced Gemini models and Google Workspace, Wayfair is now able to enhance product catalog, employee productivity, and customer experience

SUNNYVALE, Calif., Jan. 12, 2025 /PRNewswire/ — Wayfair and Google Cloud today announced an expanded partnership to significantly enhance the online retailer’s product catalog with Google’s advanced Gemini models on Vertex AI and to improve employee collaboration by deploying Google Workspace to its thousands of employees worldwide. By using Google’s AI technologies, Wayfair has already seen improvements in workforce efficiency and operational cost savings.

“At Wayfair, we believe gen AI is the key to unlocking the next generation of retail experiences,” said Fiona Tan, Chief Technology Officer at Wayfair. “With Google Cloud, we’ve been able to efficiently scale and enrich our product catalogs, enabling us to support a more seamless and engaging shopping experience for our customers.”

Gemini on Vertex AI for Automated Catalog Enrichment

In the fast-paced world of e-commerce, surfacing the right products at the right time is crucial. Wayfair is already seeing results from its use of Gemini on Google Cloud, including:

Faster Time-to-Market: Instead of manually tagging each new product across its 30 million product portfolio, Wayfair is using Gemini on Google Cloud to automatically categorize products, reducing the time needed to curate new and update existing product listings by 67%.Significant Cost Savings: By removing the tedious process of manually tagging attributes like color and style, Wayfair estimates it will drive hundreds of thousands in cost savings per year.Better Listing Quality: Gemini’s ability to analyze images opened up new possibilities for Wayfair, such as automatically catching errors in product dimensions listed in the catalog, leading to better customer satisfaction.Improved Customer Experience: Increasing the accuracy of product attributes like color and subject, and improving the coverage of these attribute tags in the catalog, improved conversion rates when customers use these filters by ~2%.More Responsible Content Management: With Gemini, Wayfair now has a scalable, AI-augmented process for identifying and flagging inappropriate materials.

Gemini for Workspace to Enhance Employee Productivity

In addition to catalog enrichment, Wayfair is also leveraging Gemini for Google Workspace to improve the productivity of employees and create better experiences for them. Wayfair has had success using Gemini in Gmail, Google Docs, and more to help employees streamline and collaborate on tasks like drafting and responding to emails, summarizing and proofreading documents, building presentation templates, and more. Wayfair is also finding success using Gems, which are customized versions of Gemini to help with tasks or get deep expertise in new areas. With Gemini for Workspace and Gems, Wayfair has seen a boost to employee productivity, enhanced collaboration, and improvements in creativity across the organization.

“Wayfair is redefining what’s possible in retail with Google Cloud’s generative AI,” said Matt Renner, President, Global Revenue at Google Cloud. “By harnessing the power of Gemini and Google Workspace, Wayfair is not only automating complex tasks and boosting employee collaboration, but also creating more personalized and engaging experiences for every shopper. This is a prime example of how AI can transform businesses and deliver tangible benefits to customers and employees.”

About Google Cloud

Google Cloud is the new way to the cloud, providing AI, infrastructure, developer, data, security, and collaboration tools built for today and tomorrow. Google Cloud offers a powerful, fully integrated and optimized AI stack with its own planet-scale infrastructure, custom-built chips, generative AI models and development platform, as well as AI-powered applications, to help organizations transform. Customers in more than 200 countries and territories turn to Google Cloud as their trusted technology partner.

About Google Workspace

Google Workspace is a suite of productivity apps, including Gmail, Drive, Calendar, Docs, Meet, Vids, and more, that are trusted by more than 3 billion users and over 10 million paying customers. Google Workspace helps people and teams do their best work across any device, from anywhere. AI has been used in Google Workspace for years to improve grammar, efficiency, security, and more with features like Smart Reply, Smart Compose, and malware and phishing protection in Gmail. Now, Gemini for Google Workspace brings AI into the entire suite.

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SOURCE Google Cloud

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MaryRuth’s Celebrates TikTok Shop Super Brand Day With Exclusive Offers and Viral Favorites

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1 hour ago

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January 12, 2025

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LOS ANGELES, Jan. 12, 2025 /PRNewswire/ — MaryRuth’s, the trusted leader in liquid vitamins and wellness products, is thrilled to announce its participation in TikTok Shop’s Super Brand Day from January 12 to 18, 2025. For this exclusive event, MaryRuth’s is celebrating with up to 40% off shopwide and exclusive multi-pack bundles of their top-selling products including viral favorites.

MaryRuth’s Liquid Morning Multivitamin + Hair Growth became a social media sensation in 2024, with over 369,000 bottles sold and 18,000 5-star reviews from customers who rave about its convenience, taste, and powerful benefits for health and hair growth. With these exclusive deals on TikTok Shop, MaryRuth’s aims to make its most-loved products even more accessible to its community to kick off healthy habits in 2025.

“We are so thrilled to be part of TikTok Shop’s Super Brand Day,” said MaryRuth Ghiyam, Founder and CEO of MaryRuth’s. “Our mission has always been to help people feel their best with high-quality, delicious, easy-to-use wellness products, and this event allows us to reach even more people with great deals on the products they love.”

Customers can take advantage of up to 40% off all products on MaryRuth’s TikTok Shop and shop specially curated bundles, including multi-packs of the Liquid Morning Multivitamin + Hair Growth. Designed to support overall health as well as hair thickness, hair growth, and skin health, this multivitamin has become a must-have for many health-conscious individuals.

MaryRuth’s will also showcase engaging TikTok content to celebrate this partnership, including product demonstrations, customer testimonials, and exclusive offers for TikTok users.

Mark your calendars for January 12-18, 2025, and join MaryRuth’s in celebrating TikTok Shop Super Brand Day. Don’t miss this opportunity to shop viral favorites and stock up to support your wellness for the new year and beyond!

About MaryRuth’s
MaryRuth was inspired to help empower others to take wellness into their own hands after seeing how health issues personally impacted her loved ones. As a health educator, nutritional consultant, culinary chef, and mom to 4 children, MaryRuth was driven to formulate a delicious, easy-to-take multivitamin with quality ingredients for her clients and family. This led to the creation of what is now America’s #1 best-selling liquid multivitamin. Through our growing product line, we aim to continue what was MaryRuth’s original mission: helping you to create small, healthy habits to move forward every day.

View original content to download multimedia:https://www.prnewswire.com/news-releases/maryruths-celebrates-tiktok-shop-super-brand-day-with-exclusive-offers-and-viral-favorites-302339675.html

SOURCE MaryRuth Organics

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