Independent market research firm, Common Sense Advisory, recognizes EQHO as a leader in $38.16 billion global industry.
Singapore – EQHO Globalization Pte. Ltd. announced today its official ranking as one of the largest language services providers (LSPs) in the translation and interpreting industry. Issued July 2015 by independent market research firm, Common Sense Advisory (CSA Research), the global report titled “The Language Services Market: 2015” ranked EQHO as a top-grossing language service provider in the US$38.16 billion global market for outsourced language services and technology.
CSA Research has published market size estimates and global rankings for the past 10 years. The 2015 report published findings from 18,097 localization companies globally and found that the demand for language services continues whilst growing at an annual rate of 6.46% globally. According to CSA Research, EQHO now ranks as Asia’s 16th largest LSP from the annual survey of 2,757 Asian-based localization companies. The number of Asian-based LSPs now make up 15.24% of LSPs globally, with Asia accounting for 10.49% of 2015 market share, generating $4 billion annually.
EQHO employs over 110 full-time staff across its offices, and is now the second largest independent localization firm in Southeast Asia. Phanitanan Sanitprachakorn, EQHO’s Group CEO remarked, “Being ranked sixteenth from 2,757 other Asian LSPs is all down to the hard work and dedication of our staff. They’ve delivered on our World-Class Customer Service promise with 98% satisfaction rates and optimized workflow processes for higher throughput, so EQHO continues to grow despite volatility in the global economy.”
EQHO has achieved record growth between 2012 and 2014, with revenue doubling during this period to more than $4 million. The company has ambitions to hit the $12 million mark by 2017, which will move EQHO well within CSA’s Global Top 100 rankings.
The CSA report comes just after EQHO unveiled a new executive management team as part of its World-Class strategy. Yvan Hennecart has been brought on as Chief Operating Officer, James Keddie has been promoted to Chief Sales Officer, and Kang Wee Peng has been promoted to Director of Business Support Services. Ross Klinger has also taken on the position of Vice Chairman of the Board, and Phanitanan Sanitprachakorn has been appointed Group Chief Executive Officer.
Headquartered in Raffles Place, Singapore, EQHO operates end-to-end production centers in Southeast Asia to deliver complex, multi-discipline translation and multilingual voice services to global brand leaders, including 23 of the Forbes Top 30 companies. In 2014, EQHO’s team of 3,500 linguists translated 45 million words into 63 languages, and 550 voice artists delivered 51,666 minutes of multilingual audio. EQHO is a western-managed ISO 9001:2008 certified company ranked by CSA as a Top 20 Asian language service provider.