The Slator 2024 Language Industry Market Report provides a comprehensive view of the global language services and language technology industry — an addressable market of USD 27.03bn in 2023, according to Slator.

The report puts Language AI in focus. We examine how language AI has been elevated to a C-level priority within enterprises, and explore the unique opportunity that 2024 presents for language industry players to raise their visibility and expand their role.

Drawing on Slator surveys, conducted in early 2024 with buyers and language services and technology providers, this data-rich report shares key insights into the competitive position and strategy of industry players. 

We present the latest data on the extent of AI adoption across the industry. The AI maturity of enterprise buyers is also analyzed. Slator’s buyer survey results reveal the language AI services currently in most demand.

Report buyers and Slator Growth, Pro, and Enterprise subscribers will be invited to join a complimentary briefing about the report’s key findings on Monday, June 3, 2024 at 4pm CEST / 10am ET / 7am PT.

Send us an email or connect via chat if you prefer to purchase the report via invoice.

A big picture view of the AI ecosystem is presented. We illustrate how changes at any layer of the AI stack — infrastructure, data, models, and applications — have significant implications for both buyers and providers.

Focusing on language service providers, the report looks at how LSPs are responding to this era of transition. The report analyzes growth and market share per segment, and explores how LSPs are expanding their AI service portfolios and strategically repositioning.

The impact of large language models on technology providers and platforms is revealed. We share insights from leading machine translation providers. The report also examines how TMS providers have recast their products to foreground AI.

The report considers the competitive position of emerging language AI startups, along with the normalization of “language-as-a-feature”, and outlines the implications of these trends for the broader language industry.

A major growth vector for the industry — multilingual AI content — is explored in depth. The report reveals the current level of buyer demand and lists concrete use cases. 

Advances in voice AI are driving a rise in AI dubbing and real-time speech translation, unlocking new use cases, and the report unpacks the practical applications of these AI services.

The results of Slator’s survey on linguist AI adoption are also revealed.

As a key tool for sales and business development professionals, the report includes a section on how to understand client needs and add value in the current era.

Additionally, the report shares the results of Slator’s survey on pricing models, presenting insights into established and emerging approaches to pricing in the AI era.

Lastly, a market outlook is presented — with market size projections for 2025 and a five year period — and we outline the segments of the industry best positioned to win in the midterm in this era of AI-driven change.

Table of Contents

Executive Summary	5
Language Services Industry Analysis	6
Market Size Market Analysis Framework Market Size by Vertical Growth by Vertical Market Size per Geography Market Size by Region Growth per Region Top 10 Countries by Market Size Market Size by Buyer Intention	6 7 8 9 11 12 14 18 18
Competitive Landscape: Language Service Providers	21
Language Service Providers LSP Global Expansion & Workforce Key Events in the Language Industry 2023 – 2024	22 26 29
Competitive Landscape: Interpreting	30
Trends in Interpreting	30
Demand for Language Services in 2024	34
Machine Translation	39
Machine Translation Market Size The Impact of LLMs on Machine Translation Machine Translation 2024 Survey Results	41 41 42
Translation Management Systems	47
The Future of TMS Integration and Customization of MT Models and LLMs	48 52
Language AI in 2024	58
The AI Opportunity for the Language Industry Language AI Startups and “Language as a Feature”	60 61
The Language AI Stack	66
AI Infrastructure Data-for-AI Foundation Models Language AI Foundation Models	68 69 71 72
AI Content Generation	74
AI Dubbing for Multilingual Video	77
Real-Time Speech Translation	81
Advances in Voice AI	84
Buyer Perspective on Language AI	86
Enterprise Buyer AI Maturity How Enterprise Buyers Access Language AI Buyer Demand for Language AI	87 88 90
LSP AI Strategies	92
LSP Adoption of LLMs Slator 2024 LSP Language AI Survey LSP Strategic Repositioning LSP Promotion of AI Services	92 95 97 99
Linguist AI Adoption	102
Pricing for the AI Era	105
Emerging Pricing Models & Trends	111
Sales Strategies for LSPs	112
Cross-Sell and Up-Sell Opportunities Building Solutions	112 114
M&A and Funding	120
Language Industry M&A M&A and Funding Outlook	121 126
Market Outlook 2024	128
Macro Risks, Historical Resilience, and the AI Factor Growth Sectors, Markets, and Niches	129 131
Appendices	133

How to Use This Report

Slator’s easy-to-digest 2024 Language Industry Market Report — Language AI Edition offers the very latest industry and data analyses, providing language service providers, end clients, and investors the confidence to make informed and time-critical decisions. It is a cost-effective, credible resource for busy professionals.