In CSA Research’s annual study on the size of the langtech and langtech service provider market, Pangeanic ranks comfortably among the top ten...
2 min read
21/07/2021
CSA Research has published its annual 100 global LSP and langtech providers index. The revenue and business data collected from these companies in 2020 ranks Pangeanic #8 out of most important language service providers in Southern Europe.
Since 2002, independent research firm CSA Research has conducted yearly market research highlighting the profitable growth of language and technology companies that open borders and bring cultures together. The uncertainty caused by the COVID-19 pandemic has forced CSA Research to adjust its statistical analysis model. Its latest results combine verified revenues by companies from 2019 to 2020 with quarterly surveys and macroeconomic trends. These metrics form this year's global top 100 LSPs plus eight regional lists aggregating more than 80 companies. Pangeanic joined the CSA Research list for the first time this year and has firmly secured a ranking in the "Top Ten" language and technology companies in Southern Europe. With an impressive track record spanning more than 20 years, Pangeanic has managed to consolidate and expand internationally with footings in the European, American and Asian markets. Since its launch, the company has transformed its business model and developed artificial intelligence applications that enhance the language processing services it offers. By virtue of the firm's heavy investment in research and development, it has rolled out a range of AI-powered services like deep machine translation, anonymization, named entity recognition, and categorization among others. This work has propelled the creation of ECO, a unique platform where customers can access these tools in one space and manage their documents in a secure environment.KEY POINTS FROM THE ANALYSIS
As indicated by the research conducted by CSA Research, companies that lead the top of the list are businesses that manage to stand out in the industry. Features these firms share include geographic expansion, strategic use of acquired or borrowed money, unique technological approach, or use of data for machine learning. All of these businesses aim to offer more scalable and intelligent services, regardless of language. CSA Research illustrates how these companies strive for better performance, scaling up and meeting the global demand for language services in a variety of locations. The research from 2020 shows this work tends to be carried out by companies that transcend borders and work multinationally. Further, 2020 reveals that acquisitions have increased within the language sector while also pointing to the rapid growth of the data and annotation market, both tools used in machine learning. Pangeanic is one of those companies capable of meeting new market needs. The company can provide the necessary data flow and quality level needed for large and small AI, the basis of the most advanced technology. Pangeanic boasts of a team of professionals with extensive experience in various fields such as translation, linguistics, software development, language processing, data, and international sales. The team has combined their efforts and knowledge to successfully develop and launch NLP engines. Artificial intelligence requires a large volume of data so it can learn, the quality of that data must be of a high standard if desired results are to be achieved.PANGEANIC IS RECOGNISED GLOBALLY
Pangeanic has achieved an awful lot in 2020, and this has not gone unnoticed. In recent years the company has benefited from internal growth and technological prowess in language processing. In addition to taking its place amongst the most notable language service providers in Southern Europe, the Financial Times has now added Pangeanic to its list of Europe’s fastest-growing companies (2020). Despite half of all European companies reporting a revenue or profit decline in the past 12 months following the pandemic, the fifth annual FT 1000 ranking points to the accelerated growth rates these companies aim to restore. As the paper reports, it provides a snapshot of Europe’s most promising growth businesses.