The Slator Language Service Provider Index (LSPI) is a ranking and an index of the world’s largest translation, localization, interpreting, and language technology providers.

As in the 2024 edition, participants in the Slator 2025 LSPI are listed in order of revenue (in USD for 2024). The ranking is supplemented with information relating to each company, such as year-on-year growth, corporate headquarters, and ownership.

Consistent with previous years, Slator has segmented the landscape of providers into four distinct groups.

1. Super Agencies – full-service, standalone LSPs with revenues greater than USD 200m;
2. Leaders – LSPs with revenues greater than USD 25m and that do not fall into the Super Agency category;
3. Challengers – LSPs with revenues between USD 8m and USD 25m;
4. Boutiques – LSPs with revenues between USD 1m and USD 8m.

Companies may choose to use the information as a benchmark for their own performance and growth, as an indication of growth in the language services industry, and as a starting point for evaluating strategic options including mergers and acquisitions (M&A).

LSPI Highlights

• The 2025 LSPI features nearly 300 companies in total, 28 of which are making their debut this year.
• The combined US-dollar revenue of Slator 2025 LSPI companies grew 5.6% in 2024 to more than USD 7.2bn. This is an attractive headline rate. However, the following should be noted:
  • A significant portion of this growth is the result of M&A-driven consolidation and / or a redistribution of market share. 
  • We estimate organic growth across the ca. 300 companies featured to be flat.
• Inclusive of both M&A and organic growth, growth among the Super Agencies was 6.3%, compared to Leaders (6.1%), Challengers (6.4%), and Boutiques (-3.9%).
• A number of LSPs reported revenue declines in 2024: 25% of Super Agencies, 34.1% of Leaders, 38.2% of Challengers, and 41.5% of Boutiques.

The Slator 2025 LSPI will be a useful resource for language industry stakeholders, such as service vendors, buyers, advisers, consultants, and investors when used in conjunction with Slator’s news and research, such as the recent Slator 2024 Language Industry M&A and Funding Report, and other in-depth Research and Reports and Data and Indexes.

The Slator 2025 LSPI is the industry’s first look at the state of the market in 2024. We will publish a brand new Language Industry Market Report in early Q2 2025, with market sizing and in-depth vertical analysis.

The Slator LSPI contains 2024 and 2023 revenues (in USD) for each company as well as percentage growth, which is based on the original reporting currency. Commentary on 2024 performance data and organizational changes for each LSPI Super Agency and Leader is provided in the expanded records (click to view).

The 2025 LSPI includes three separate lists: 

1. The Main LSPI – featuring companies for which 2024 revenue data has been provided / is available. Each card expands to display additional information.
2. The Expanded LSPI list – displaying companies that are included in the main Index and companies for which 2023 revenue data is available (but 2024 data is not yet available). In such instances, LSPs have been included on the basis of their 2023 revenues. The 2024 revenues for these companies will be added if and when they become available.
3. The Past Participants list – displaying companies that have participated in one or more prior editions of the LSPI but for whom submissions for both the 2024 and 2025 editions of the Index are pending. 

You can toggle between the three lists by using the buttons “Include Pending Figures,” “Show Past Participants,” and “Back to Main Index.”

Limitations and Exclusions

There is a cohort of companies that would be included in the LSPI except for the fact that they have never publicly disclosed their revenues. This includes, but is not limited to, a number of venture capital- or private equity-backed language service and technology providers.

There is another subset of companies known to generate part of their revenues from language services that are not typically included in the LSPI (unless they are able to break out localization-related revenues).

These include the likes of contract research organizations (CROs), media production companies, advertising companies, and government contractors, whose primary activity is not language services. Some are subsidiaries or divisions within companies that derive the main portion of their revenues from non-language-related activities.

Examples of such companies include Deluxe Entertainment Services Group (media production), DXC Technology (end-to-end IT), Datawords (digital content), Gientech (IT solutions and consulting), Worldwide Language Resources (US Government Contractor), and Morningside (acquired by IP services provider Questel).

• Unless otherwise noted, LSPI figures reflect revenues obtained for the company’s fiscal year and, therefore, do not always represent the calendar year.
• Figures are presented in US dollar millions (USDm) for the purposes of the index.
• Where relevant, exchange rates are based on historical data for 2024 (December 31, 2024) and 2023 (December 31, 2023) figures.
• Unless otherwise noted, percentage growth is calculated based on the currency as reported to / obtained by Slator.

For the most part, Slator LSPI data is self-reported by the companies included and sense checked by Slator. Where possible, the data has been independently verified by Slator, including using publicly accessible resources, such as annual reports filed with regulators or stock exchanges.

Participation

Interested companies should contact Ana Medina to submit their company for inclusion in the next update of the Slator 2025 LSPI.