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The language industry as a whole has once again proven to be resilient. The majority of players interviewed for the Nimdzi 100 reported a strong finish to the year and some even experienced record growth in 2020. These reports are backed up by data collected via our survey and financial records of publicly traded companies which show that, even in 2020, the language services industry as a whole once again grew. These findings are no surprise if we consider that, in 2020 and beyond, language services have played a key role in saving lives and advancing knowledge and communication across the globe.
While some of what we’re seeing in the data might just have been one-time benefits, such as increased profitability due to reduced costs for travel and office space, we can expect that the pandemic will have a lasting impact on how all of us, including our customers, do business.
Throughout this report, we reference different data points that were used for our analysis. In some cases, we report directly about data relating to the top 100 largest LSPs. In other cases, our calculations are based on data collected via our survey, which received 173 valid responses from LSPs of all sizes (including about two-thirds of the top 100 from our ranking). We also refer back to data collected via interviews we conducted with more than 30 of the largest players in the language industry. We highlight the sources of our data where appropriate.
