Summary of "Market concentration in the language services industry and working conditions for translators"
Translators are facing worsening working conditions that make it difficult to earn a living.
This situation might be linked to market concentration in the language services industry, specifically among the top 100 LSPs (language service providers).
The market share of the top 100 LSPs has grown significantly, reaching 16.04% in 2020.
Within the top 100 LSPs, the top 10 companies hold a dominant position, with a market share exceeding 60%.
This concentration is further characterized by a growing size disparity, with the top companies acquiring smaller ones and achieving significant market dominance.
This suggests that the LSP market could be considered a monopsony, where a few large companies hold significant power and dictate working conditions for freelance translators.
The top 100 LSPs only represent a small portion of the overall language services market.
However, the top 10 LSPs hold a dominant position within this group.
The market concentration is increasing due to mergers and acquisitions.
This concentration may negatively impact the working conditions of freelance translators.
Obtain more granular data on the specific subsegments of the language services industry.
Investigate the presence of monopsonistic power in the LSP market.
Analyze the impact of market concentration on different segments of freelance translators.
The findings suggest that freelance translators may face significant challenges in the future due to market concentration.
There is a need for further research to understand the full impact of market concentration on the translation profession.
Potential solutions could involve collective action by translators, development of alternative business models, and regulatory measures.
Overall, the paper provides evidence that market concentration in the language services industry may be contributing to the worsening working conditions for freelance translators. Further research is needed to understand the full scope of this issue and develop effective solutions.