Remote simultaneous interpreting (RSI) platforms have, in recent years, transformed the way simultaneous interpreting services are delivered. The 2023 ALC Industry Survey, produced in collaboration with Slator, probed the extent to which RSI is currently reshaping the traditional interpreting landscape.
The survey found that more than three-quarters of simultaneous interpreting providers broadly agree that RSI platforms should be seen as direct competitors to interpreting service providers, with close to 40% strongly agreeing.
Moreover, RSI appears to remain a high-growth niche, with 57% of respondents — primarily US-based language service providers — agreeing that RSI demand is steadily increasing.
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Over the last few years, the boundary between interpreting technology and interpreting service delivery has become blurred. Many leading RSI platforms facilitate access to interpreters via crowdsourcing models or via partnerships with interpreting service providers.
The direct integration of such RSI platforms with online meeting tools (e.g., Zoom) and other client platforms has also put RSI platforms in a strong position to deliver interpreting solutions to the enterprise.
A number of RSI companies, such as KUDO and Interprefy, have also moved quickly to broaden their offering beyond interpreting; instead, such companies provide a diverse range of options for enabling multilingual events and meetings, including live automated captions and AI-enabled speech-to-speech translation.
On the potential impact of AI-enabled speech-to-speech translation, ALC survey respondents were split. Half agreed that AI speech translation will disrupt conference interpreting demand within the next few years, while the remaining half said they do not foresee disruption in this timeframe.
Slator ran the 2023 ALC Industry Survey from August to September 2023, surveying LSPs in the US and globally to produce an in-depth 130-page report analyzing key language industry topics — from growth and business strategies, technology, and supply chains, to pricing, salaries, and recruitment.
Slator’s language industry intelligence enables owners, operators, investors, and buyers to make better business decisions and execute their strategy. Schedule a discovery call with Slator’s Research and Advisory service today.
2023 ALC Industry Report
Table of Contents
Executive Summary
3
Key Takeaways
4
Summary of Findings
5
Profile of Survey Respondents
7
Business Model
12
Services
12
Buyer Sectors
14
Domestic vs. International Spending
19
International Expansion
20
Business Strategy
22
Business Priorities
22
Services Strategy
24
Competitive Landscape
28
M&A and Funding
29
Language Services
36
Translation Services
36
Interpreting Services
40
Sign Language Interpreting
51
Language Testing
52
Language Training
53
Growth and Profitability
54
EBITDA
57
Profit Margins
58
Pricing
61
Rates for Translation Services
61
Rates for Interpreting Services
69
Rates for Sign Language Interpreting
73
Rates for Language Training
73
Rates for Language Testing
74
Technology
75
TMS and CAT Tools
75
Interpreting Platforms
76
Language Testing Platforms
77
Language Training Platforms
78
Machine Translation
78
Integrations and Connectors
80
Buy vs. Build
83
Supply Chain and Personnel
85
Workforce Demand and Supply
86
Salaries
92
Managing Independent Contractors
96
The Future of Jobs
99
Sales and Marketing
101
Standards and Accreditations
104
KPIs and Metrics
108
Global Events and Macroeconomic Factors
11
Regulations and Legislation
117
Data Privacy and Cybersecurity
121
AI and Large Language Models
124
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