Nimdzi Insights, an international market research and consulting firm, announced the publication of its annual Nimdzi 100 report. This ranks the biggest language service companies in the industry. The report is a major undertaking by Nimdzi researchers, serving as an economic barometer for executives and analysts alike.

The report characterizes 2022 as a cooler year, but only in the context of the dramatic growth achieved in 2021. But that’s only the beginning! The main elements of the report are republished below.

2022 was a particularly interesting year for Nimdzi to analyze as the language industry was coming out of two exceptional years in the translation industry. In 2020 growth slowed down as the market adjusted to lockdowns and a changing environment. 2021 then was a boom year that saw growth in the industry skyrocket due to backlog demand from 2020 paired with new demand as language service providers (LSPs) were reaping the rewards of the efforts put in at the start of the pandemic.

2022 was like a ”balance year’ as growth was certainly stronger than in 2020 but more moderate compared to the exceptional growth in 2021.

Putting 2022 into context, we can say that in many ways, life has returned to normal. We have adapted to life after and with the pandemic, everyone is traveling again, conferences are being held onsite once more, all the while remote services are here to stay. On the other side of the coin, the global economy is experiencing inflation and an energy crisis, there is war in Europe, and mass layoffs in the tech industry, all leading to an overall feeling of uncertainty. Who knows what 2023 will hold for the Translation Industry…