The Growing Demand for Localization in Global Markets: By the Numbers

The Growing Demand for Localization in Global Markets: By the Numbers

Insights from Adaptive Globalization

In today's interconnected world, businesses are increasingly recognizing the importance of localization to tap into global markets effectively. But how significant is this trend? Let's dive into the numbers to understand the burgeoning demand for localization in global markets.

1. The Global Market Landscape

• $64.7 Billion: The estimated value of the global localization industry in 2022. (Nimdzi, 2023)
• 7.0%: The annual growth rate of the localization industry, showcasing its rapid expansion.

2. Digital Content Explosion

• 76%: Percentage of online users who prefer accessing content in their native language, even if they understand English (CSA Research, June 2020)
• 58.8%: The proportion of global website content in English, highlighting the vast opportunity for localized content in other languages. Russian is 2nd with only 5.3% (Statista, Jan 2023)

3. E-commerce and Localization

• 76%: Online consumers who are more likely to buy a product with information in their own language (CSA Research, 2020)
• 40%: Online shoppers will not buy in another language, even if fluent. (Statista, 2020)

4. Mobile App Localization

• 3.5 Million: Number of apps available on Google Play Store. (Oct 2022)
• 128%: Increase in app downloads when they are localized for specific markets (Distomo 2016)

5. The Business Impact

• 1.5x: Businesses that prioritize localization are 1.5 times more likely to see an increase in total revenues (Harvard Business Review)
• 84%: Companies that localized their content reported a moderate or significant increase in profits (Cielo24, 2023)

6. Emerging Markets and Localization

• 4: Localizing your website to just 4 countries (US, China, Japan and Germany) gives you access to 50% of the worlds online sales potential. (Translated)
• 65%: Amount emerging markets are expected to contribute to world economic growth by 2025.

Conclusion: The Undeniable Link Between Localization and Global Success

The numbers speak for themselves. In an era where global reach is more accessible than ever, the real differentiator lies in how businesses adapt their content and products to resonate with local audiences. Localization isn't just a nice-to-have; it's a strategic imperative for any business aiming for global success.

At Adaptive Globalization, we understand the nuances of global markets and the pivotal role of localization. With our expertise, we're here to guide businesses in navigating the complex landscape of localization, ensuring they tap into the vast potential of global markets effectively.