A recent study by Common Sense Advisory, a research and consulting firm committed to analyzing technology driven translation, discovered that in 2007, the global telephone interpreting market was worth $700 million in U.S. dollars, with $500 million solely derived from the United States. This is expected to increase to $1.2 billion by 2012.
It was determined medical interpreting accounts for one-third of the total United States interpreting market. This is because those health care providers in the U.S. that receive federal funds through programs like Medicare and Medicaid are required to provide language services to patients in their native language.
In addition, there is a global demand for telephone interpreting services, including call centers, retail, and utilities. Report analyst, Nataly Kelly indicated on Sunday that, "...people can turn to telephone interpreting for nearly 200 languages in under 30 seconds. With the availability of such services, there is no reason why people should struggle with spoken language barriers."
The Common Sense Advisory report also analyzed the global supply and demand for interpreting services and offers growth and customer service strategies for existing suppliers of telephone interpreting services and those who may be considering entering the business.
23 June 2008
