A remodelled ELIS, which will be launched on Friday, 7th January 2022, will be probing many of the same core questions as last year including whether Language Service Companies’ (LSC) revenues and profits will have improved, declined or remained the same. Last year nearly 50 percent of LSCs reported that profits had increased, even though 52 percent reported a decline in revenues.
Another significant outcome from the last ELIS survey was the marked growth of LSCs in the €1m to €5m bracket. These companies reported higher growth and profitability. Industry observers are anticipating that this trend is likely to continue.
Pressure on prices was a feature of 2020’s analysis and last year showed that prices had remained unchanged. Despite the difficult trading conditions 70 percent of LSCs indicated that they expected that their operations would see growth by the year end.
The pandemic appeared to accelerate long needed developments in technology with MT dominating the trends but with RSI and AV technologies gaining strong footholds last year.
Commenting Rudy Tirry, the lead on the ELIS study, said: “I expect to see that many of the key findings from last year’s survey will continue in 2022. Last year’s analysis showed that, despited the COVID crisis, there is a huge potential to take language service outsourcing beyond pure execution, but ELIS 2021 indicated that buyers were hesitant. I am many others will be interested to see whether that caution has been set aside or not.”
Taking part in ELIS 2022 will be easier than ever before with the questionnaire available in multiple languages and respondents able to focus on survey pathways that are relevant to their own interests. The survey will remain open until close of business CET on Monday, 31st January.