25強語言服務(翻譯、本地化)供應商介紹(英文版)(pdf 8頁).pdf

Copyright 2008 by Common Sense Advisory Inc 29 May 2008 Unauthorized Reproduction Distribution Prohibited Ranking of Top 25 Translation Companies by Renato S Beninatto and Donald A DePalma Since 2005 Common Sense Advisory has published an annual list of the 20 largest language service providers LSPs Solid growth in the translation localization and internationalization space led us to expand our list this year to the Top 25 But First the Numbers The Market Grew Faster Than in Previous YearsBut First the Numbers The Market Grew Faster Than in Previous Years Based on the revenue data we collected and in conversations with LSPs of every shape and size 2007 was a banner year The average year over year growth rate of companies in our 2007 Top 20 list was 26 68 percent We revised our 2007 estimate from US 10 billion to US 12 1 billion and adjusted our projections accordingly see Table 1 Based on the trend line over the last five years we predict that the market will reach US 24 billion by 2012 That growth equates to a compound annual growth rate CAGR of 14 6 percent over the coming quinquennium RegionRegion MarketMarket ShareShare 20082008 USUS MM 2002009 9 USUS MM 20102010 USUS MM 20112011 USUS MM 20122012 USUS MM Europe 43 6 145 7 202 8 306 9 336 10 350 U S 40 5 770 6 762 7 799 8 767 9 718 Asia 12 1 648 1 932 2 228 2 504 2 776 ROW 5 686 804 928 1 043 1 156 TotalsTotals 14 25014 250 16 70016 700 19 26019 260 21 65021 650 24 00024 000 Table 1 Projected Language Services Revenues for 2008 2012 in U S Millions of Dollars Source Common Sense Advisory Inc We can attribute some of the revenue growth four percent to be exact to foreign exchange issues However the main driver for growth was increased sales in an economic environment favorable to international trade and relations These simple rows and columns mask a landmark change in the market Europe now represents more translation revenue than the United States The 15 euro zone countries surpassed the U S in GDP for the first time The European Union as a whole topped the United States in terms of broadband penetration The translation industry went along for the ride LSPs are reaping the benefits of a more global economy and are growing despite indications of a recession in the United States 2 Ranking of Top 25 Translation Companies Copyright 2008 by Common Sense Advisory Inc 29 May 2008 Unauthorized Reproduction Distribution Prohibited How How We Ranked the CompaniesWe Ranked the Companies As always Common Sense Advisory s list of the top performing translation companies goes beyond translation to include companies or divisions of companies that make most of their revenue by providing language services be it in written or verbal form on paper over the web in person via video inside software applications in Brno Des Moines or Shenzhen Because there are so few publicly traded companies in the language arena this list always involves a lot more legwork than producing a similar register for the automotive or telecommunications industries So it goes Public companies All the public companies show up on our list accounting for 36 percent of our final tally For most of these firms we have the luxury of reviewing annual reports and official filings However some of these are large corporations with specialized business units for which they do not break out numbers For these companies whose main activity is not language services but have business units or divisions that provide such services we considered only that unit s revenue Getting these numbers can be a challenge Privately held companies These firms consume most of our time since we approach 100 plus candidate companies to come up with our list of 25 We call their executives to find out what they earned in the preceding year probe for the magic number and then ask them for financial statements to confirm their data Private firms in some countries are not obligated to release any data so we can only check their financials to the extent that they allow us Once we ve done that we confirm the information with at least three independent sources and verify their numbers against a set of industry metrics in our smell test The Top 25 List The Top 25 List Becomes More Global with Each Passing YearBecomes More Global with Each Passing Year Our list for 2007 includes LSPs from 17 countries the U S 6 U K 4 Czech Republic 2 Switzerland 2 and China Finland France Ireland Italy Japan Luxembourg Netherlands Norway and Sweden one each LLCJ is a joint venture of companies from four countries Belgium Germany Italy and Spain While American and British companies still dominate the rankings Scandinavia tripled its contribution of LSPs to the list with companies from Finland Norway and Sweden and a Danish company LanguageWire also almost made it to the Top 25 Meanwhile a second Asian LSP hiSoft joins Honyaku in the top echelon Ranking of Top 25 Translation Companies 3 Copyright 2008 by Common Sense Advisory Inc 29 May 2008 Unauthorized Reproduction Distribution Prohibited Figure 1 U S and U K Companies Still Dominate the Top 25 List in Total Revenues Earned in U S Dollars Source Common Sense Advisory Inc With so many of the Top 25 reporting revenue in other currencies our conversion into a baseline unit the U S dollar becomes even more important than in the past For non U S companies outside the United States we divide their revenue in local currency by average exchange rate for the 365 days of their fiscal year Thus the average exchange rate for tenth ranked RWS Group was US 1 9692 per pound sterling GBP for the fiscal year ended on 30 September 2007 Third ranked SDL reporting its results on a calendar year benefits from the run up of the pound against the dollar for the balance of 2007 with the dollar quoted at US 2 0018 Six LSPs Open Up Some Daylight between Six LSPs Open Up Some Daylight between TopTop and Midand Mid Tier FirmsTier Firms The market is organized into several visible tiers as we pointed out in the Global Watchtower in September 2007 see Table 2 If we exclude SDL s technology revenue from its total it joins a cluster of high growth rivals in the range of US 100 200 million SDL Language Line STAR TransPerfect euroscript and SDI The business press is beginning to pay attention to this sector Last year Inc magazine took notice of the language sector flagging Eriksen Translations 2 552 Iverson Language Associates 2 589 New Global Translations 2 023 The Language Works 3 478 and Welocalize 859 among the 5 000 fastest growing private companies in the U S all listed as providers of Business Services 4 Ranking of Top 25 Translation Companies Copyright 2008 by Common Sense Advisory Inc 29 May 2008 Unauthorized Reproduction Distribution Prohibited RankRank CompanyCompany HQ CountryHQ Country R Revenue evenue in US Min US M EmployeesEmployees OfficesOffices StatusStatus 1 L 3 Communications Linguist Operations and Technical Support Division US 753 00 8 127 8 Public 2 Lionbridge Technologies US 452 00 4 600 45 Public 3 SDL International UK 235 01 1 751 39 Public 4 Language Line Holdings US 183 20 2 378 7 Private 5 STAR Group CH 161 75 900 42 Private 6 TransPerfect T US 156 00 780 51 Private 7 euroscript International LU 120 93 1 235 32 Private 8 SDI Media Group US 119 80 591 25 Private 9 Xerox Global Services UK 98 90 500 9 Public 10 RWS Group UK 90 98 379 10 Public 11 CLS Communication CH 49 22 343 14 Private 12 Logos Group IT 46 50 150 17 Private 13 Semantix SE 43 73 150 10 Private 14 Manpower Business Solutions NL 38 84 150 7 Public 15 Moravia Worldwide CZ 38 20 406 12 Private 16 LCJ EEIJ BE DE ES IT 38 04 282 15 Private 17 Honyaku Centre JP 36 30 174 4 Public 18 Welocalize US 33 70 295 8 Private 19 thebigword Group UK 33 03 195 7 Private 20 Skrivanek Group CZ 32 40 395 53 Private 21 AAC Global Group FI 31 66 289 11 Public 22 Hewlett Packard ACG FR 23 00 121 9 Public 23 hiSoft Product Engineering Services Globalization and Localization BU CN 22 00 3 100 15 Private 24 VistaTEC IE 21 79 100 5 Private 25 Amesto Translations Holding NO 18 75 85 5 Private Table 2 Top 25 Language Service Providers Worldwide for 2007 Source Cited Companies and Common Sense Advisory Inc The Market The Market in Lain Language Services nguage Services Remains FragmentedRemains Fragmented In previous lists we ve noted how little of the overall language revenue is earned by the Top 20 now 25 language service providers That hasn t changed although they cranked the percentage up a few points over last year see Figure 2 Beyond that reality we decided long ago to conflate all language service categories Ranking of Top 25 Translation Companies 5 Copyright 2008 by Common Sense Advisory Inc 29 May 2008 Unauthorized Reproduction Distribution Prohibited Figure 2 Top 25 Aggregate Revenue for 2007 as a Percentage of Total Market Size in U S Dollars Source Common Sense Advisory Inc translation localization interpretation internationalization supporting technologies engineering and even language learning into a single measurable category Otherwise we would have been writing about a variety of very small even more highly Balkanized segments Finally to determine whether the fragmentation is getting worse or consolidation increasing too much we apply the Herfindahl Hirschman Index HHI to gauge industry concentration and competition in the marketplace The HHI calculates a weighted average market share which is represented by the sum of the squares of the market shares of each individual firm The scores range from 0 to 10 000 Low numbers indicate a very large amount of very small firms while a large number correlates to a single monopolistic producer The HHI for the Top 25 companies is 66 34 This means that even if the 10 biggest companies in the industry merged to form a US 2 billion company it is unlikely that it would be challenged by anti trust authorities in the United States Some Companies Are Growing FasterSome Companies Are Growing Faster Acquisitions fueled the growth of companies like euroscript and SDL However most companies report significant organic growth from the increased demand for their language services Moravia had warned us last year that when the Microsoft long march to Vista software program ended it would have a drop in revenues but that its non Microsoft business was growing above industry averages 6 Ranking of Top 25 Translation Companies Copyright 2008 by Common Sense Advisory Inc 29 May 2008 Unauthorized Reproduction Distribution Prohibited RankRank CompanyCompany Revenue Growth Revenue Growth from 2006 to 2007from 2006 to 2007 1 euroscript International 92 5 2 thebigword Group 57 6 3 Xerox Global Services 45 4 4 Semantix 40 0 5 TransPerfect T 38 3 6 Skrivanek Group 37 3 7 SDL International 34 7 8 SDI Media Group 26 1 9 RWS Group 23 9 10 L 3 Communications Linguist Operations and Technical Support Division 21 1 11 CLS Communication 20 9 12 Welocalize 19 6 13 LCJ EEIG 18 6 14 Language Line Holdings 12 2 15 Honyaku Centre 11 5 16 Lionbridge Technologies 7 9 17 Logos Group 7 3 18 Hewlett Packard ACG 4 5 19 Moravia Worldwide 12 2 20 Merrill Brink International Data not available Table 3 Revenue Growth Reduction by Company from 2006 to 2007 Source Common Sense Advisory Inc The BiggThe Biggest LSPs Earn the Least est LSPs Earn the Least Revenue Per EmployeeRevenue Per Employee Revenue per employee is a measure of how efficiently a particular company is using its employees In general rising revenue per employee is a positive sign that suggests the company is finding ways to squeeze more sales out of each of its workers When we cross tabbed the number of employees and revenue per employee at the Top 25 we saw that the companies with the most employees L 3 Lionbridge and hiSoft are also the least efficient These three firms trail in productivity per employee holding the twenty second nineteenth and twenty fifth places respectively see Table 4 Across the Top 25 we noticed an increase in efficiency as measured by revenue per employee In our 2007 ranking the average revenue per employee for the Top 20 companies was US 102 648 88 In 2007 that number reached US 162 914 48 for an improvement of 58 71 percent Ranking of Top 25 Translation Companies 7 Copyright 2008 by Common Sense Advisory Inc 29 May 2008 Unauthorized Reproduction Distribution Prohibited Ranking by Revenue per Employee Ranking by Number of Employees Company Number of Employees Revenue by Employee in USD 1 20 Logos Group 150 310 000 00 2 21 Semantix 150 291 558 33 3 22 Manpower Business Solutions 150 258 931 63 4 13 RWS Group 379 240 044 96 5 25 Amesto Translations Holding 85 220 560 36 6 24 VistaTEC 100 217 947 66 7 19 Honyaku Centre 174 208 640 80 8 9 SDI Media Group 591 202 707 28 9 8 TransPerfect T 780 200 000 00 10 10 Xerox Global Services 500 197 800 00 11 23 Hewlett Packard ACG 121 190 082 64 12 7 STAR Group 900 179 719 24 13 18 thebigword Group 195 169 383 92 14 14 CLS Communication 343 143 499 01 15 17 LCJ EEIG 282 134 886 65 16 5 SDL International 1 751 134 216 16 17 15 Welocalize 295 114 237 29 18 16 AAC Global Group 289 109 564 34 19 2 Lionbridge 4 600 98 260 87 20 6 euroscript International 1 235 97 916 34 21 11 Moravia Worldwide 406 94 088 67 22 1 L 3 Communications 8 127 92 654 12 23 12 Skrivanek Group 395 82 025 32 24 4 Language Line Holdings 2 378 77 039 53 25 3 hiSoft 3 100 7 096 77 Average of Top 25 CompaniesAverage of Top 25 Companies 1 0991 099 162 914 48162 914 48 Table 4 Top 25 Companies Ranked by Revenue per Employee Source Common Sense Advisory Inc Drivers and Opportunities for Growth in the Language Services IndustryDrivers and Opportunities for Growth in the Language Services Industry What s ahead for providers of language services Common Sense Advisory sees an increasing need as companies increase their global exposure and along with governments strive to meet the needs of diverse populations at home and abroad The ailing dollar pushes exports from the U S Some of the biggest American brands across all industries have used the retrenchment of the dollar to 8 Ranking of Top 25 Translation Companies Copyright 2008 by Common Sense Advisory Inc 29 May 2008 Unauthorized Reproduction Distribution Prohibited shield themselves from slumping profit margins Declines against world currencies make U S products look cheaper overseas and translate into big returns when sales are converted back into dollars Multiculturalism attracts public funds and marketing dollars Societies across the globe are becoming more heterogeneous