Does A One-Stop-Shop Global Translation Provider Truly Exist?

Within the global translation market, there are over 200 global language service providers (LSPs), each reporting annual revenues larger than $1 million. Collectively, the 2020 revenue of all 200 companies equates to approximately $8 billion. All of these LSPs have robust service structures, hold a presence across different time zones, and cover 50+ languages.

Fortune 500 companies are increasingly weighing the possibility of choosing a one-stop-shop solution for their company’s LSP needs across global markets. Can this seemingly perfect centralization solution really exist? Should it exist?

Let’s examine the pros and cons of a centralized global provider vs. many smaller local translation agencies.