In CSA Research’s annual study on the size of the langtech and langtech service provider market, Pangeanic ranks comfortably among the top ten fastest growing global companies in the last year, along with those showing the fastest sustained growth from 2018 to 2021.
This year is proving to be the year of accolades for Pangeanic. After appearing in eighth place in CSA Research’s most influential language service providers (LSP) in Southern Europe list last July, the consulting firm listed Pangeanic among those companies boasting the most growth in recent years.
Since 2005, CSA Research has published its annual market size report and most influential providers in the language technology and services industry ranking. This study encompases a global survey of 450 industry participants and, since 2013, incorporates rankings of the fastest growing companies in the industry.
Through the revenue data reported in the local currency of each participant, the rankings are configured, eliminating the impact that foreign exchange may have on those rankings. Pangeanic, with its growth data provided in recent years, stands out in two of the lists published by the firm: the fastest growing LSP this year and the LSP with the fastest sustained growth in 2021.
Pangeanic’s international expansion is not going unnoticed. Its workforce, technological and commercial growth is reaching new heights. The company’s far reaching experience in the linguistic sector and its ability to adapt to new market needs has yielded fantastic results in artificial intelligence application development for natural language processing.
The key to success was to create a platform that meets the needs of customers in services such as machine translation, anonymization, data classification and sentiment analysis, among others. This AI-powered tool, ECO, allows customers to translate their documents and extract deep knowledge from texts without language barriers as we have indicated.
FASTEST-GROWING LSP IN 2021
The annual study conducted by CSA Research is based on a rigorous methodology that guarantees the accuracy and integrity of the data it presents. It does not use estimates, but rather shows accurate data provided and verified by LSPs and technology providers in the industry.
These data have made it possible, since 2010, to get a feel for the market’s pulse, to forecast its growth and to identify its strongest sectors.
In addition, with the information collected from the companies between 2019 to 2020, a report of the 20 companies (LSP and langtech) that grew the most in this period has also been made available. A ranking in which Pangeanic stands out in seventh position, due to the growth data presented year after year and reaching 62.86%.
LSP WITH THE FASTEST SUSTAINED GROWTH IN 2021
Added to the list of the fastest growing companies in the sector is the study revealing the 20 LSPs and langtechs that maintain sustained growth in recent years (from 2018 to 2020)
With data from the first quarter of 2021, CSA Research again highlights the addition of Pangeanic to this list. The company’s evolution and revenue increase since 2018 has seen it clasp 3rd place in the ranking. A listing that denotes the exemplary path the company is taking and foreshadows its successful future, currently boasting an average growth of 73.53%.
These results shine a spotlight on the value of this sector and of course create a positive domino effect to help with investors’ confidence.
In short, 2021 is a year of expansion for Pangeanic, already taken hold with the company’s participation in BME’s initiative for SMEs with high growth potential called Entorno Pre Mercado, an incubator program for access to capital markets in which participants learn all about capital markets and gain exclusive access to private investors.