Global Interpretation Services Market

Global Interpretation Services Market

Global Interpretation Services Market Size By Application, By Geographic Scope and Forecast

According to Verified Market Research, the Global Interpretation Services Market was valued at USD 17,230.2 Million in 2018 and is expected to witness a growth of 5.69% from 2019-2026 and reach USD 26,581.0 Million by 2026.

Language Services have been around for a long period of time, and the providers for these services (Language Service Providers (LSP)) are companies that offer varying degrees of service. Language services generally include the following services: translation, interpretation, dubbing, language courses, language assessment, language technologies and more. Within language services, Interpretation services can be defined as the facilitation of communication between users of different languages, encompassing both spoken as well as signed communication. The International Standards Organization (ISO) definition for interpreting is “Rendering a spoken or signed message into another spoken or signed language, preserving the register and meaning of the source language content.” (ISO, 2014, p. 1.).

Interpreting requires excellent language proficiency as there is a need to be able to quickly analyze and transfer messages between languages, as well as an adherence to professional ethics and standards of practice. Interpreting is performed face-to-face and remotely, the latter of which requires technological platforms for the facilitation of telephonic and video multilingual communication.

The Healthcare Industry has been witnessed to be coming under increasing pressure to provide translation and interpreting services for limited English proficiency (LEP) patients (especially ones that are more cost-effective). With regulations for insurance companies and healthcare providers being updated, all patient-facing materials must be updated as well and distributed to patients in a language they can understand.

With the growing demand in the legal and judicial professions for interpretation services, similar to the healthcare field, courts are required by law to offer language services for those who require it. With the increase in the number of highly skilled teams of legal, court, and immigration interpreters in North America, legal interpretation is becoming more dependent on interpretation services. However, the high cost of translation services and lack of awareness concerning interpretation technologies are major factors restraining the market growth.