NAICS 541930 Quarterly Industry Report
Translation and Interpretation Services
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 541930Sector: Professional, Scientific, and Technical Services (54)Updated: Q1 2026
About This Report
This Fair Market Value report for NAICS 541930 provides industry data sourced from the Census Bureau[5], Bureau of Labor Statistics, and Small Business Administration. Coverage includes establishment counts, employment statistics, wage data, and business characteristics. Fair Market Value assessments for translation businesses incorporate income, market, and asset approaches to determine enterprise worth for acquisition, financing, and tax reporting purposes.
Industry Snapshot
Key metrics for the translation and interpretation services industry.
NAICS Sector
54
Professional, Scientific, and Technical Services
Industry Definition & Overview
Translation and Interpretation Services (NAICS 541930) encompasses establishments primarily engaged in translating written material and interpreting speech from one language to another, as well as providing sign language services. Per Census Bureau[5] data, the industry comprised roughly 2,709 establishments in 2020, employing 37,377 people with annual payroll exceeding $1.7 billion. The median annual wage for interpreters and translators was $59,440 in May 2024.
Services span varied sectors including healthcare, legal proceedings, government services, education, and international business operations. Demand drivers include the linguistically varied U.S. population, increasing globalization, and growing use of video relay services for American Sign Language interpretation. Employment is projected to grow 2 percent from 2024 to 2034, with roughly 6,900 job openings projected annually. Broader translation services market revenue has grown at a 4.1 percent compound annual growth rate between 2020 and 2025, reaching an estimated $8.4 billion.
Businesses in this industry operate as sole proprietorships, small firms, or larger agencies. Nearly one-third of interpreters and translators are self-employed. Services include document translation, real-time interpretation across simultaneous and consecutive modes, localization of content for target markets, transcription services, and voice-over work. Bureau of Labor Statistics[6] data confirms steady demand for skilled researchers who can manage complex multilingual communications.
What's Included in This Industry
- Translating written documents in legal, medical, technical, and business contexts
- Simultaneous and consecutive interpretation for conferences and meetings
- Sign language interpretation including video relay services
- Localization services adapting content for target linguistic markets
- Transcription services converting audio to written text
- Voice-over dubbing and subtitling for multimedia content
- Language consulting on linguistic accuracy and cultural appropriateness
- On-site interpretation for courtrooms, hospitals, and government agencies
- Remote interpretation services via telephone and video platforms
- Specialized interpretation for medical, legal, and technical fields
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Professional, Scientific, and Technical Services | 54 |
| Subsector | Professional, Scientific, and Technical Services | 541 |
| Industry Group | Other Professional, Scientific, and Technical Services | 5419 |
| NAICS Industry | Translation and Interpretation Services | 54193 |
| National Industry | Translation and Interpretation Services | 541930 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 541611 | Administrative Management and General Management Consulting Services | Administrative Management Consulting Services sometimes incorporates translation as a complementary offering for multilingual organizations and international business expansion projects. |
| 541612 | Human Resources Consulting Services | Human Resources Consulting Services may provide cultural competency training and multilingual workplace communication support alongside translation services for organizations operating globally. |
| 541370 | Surveying and Mapping (except Geophysical) Services | Surveying and Mapping Services may require translation of technical documents and interpretation for international projects involving geographic assessment and spatial data collection. |
| 541820 | Public Relations Agencies | Public Relations Services frequently partner with translation providers to manage communications for multinational clients and international marketing campaigns across language markets. |
| 812990 | All Other Personal Services | All Other Personal Services may include interpreter services for specialized personal needs, though NAICS 541930 is the primary classification for professional interpretation and translation. |
| 541990 | All Other Professional, Scientific, and Technical Services | All Other Professional, Scientific, and Technical Services encompasses related language and communication service businesses that do not fall within more specific professional service classifications. |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 21.5% | 602 |
| 2 | Florida | 9.9% | 277 |
| 3 | New York | 7.0% | 197 |
| 4 | Texas | 6.2% | 172 |
| 5 | Colorado | 4.0% | 112 |
| 6 | Washington | 3.9% | 109 |
| 7 | Illinois | 3.9% | 109 |
| 8 | Virginia | 3.3% | 91 |
| 9 | Pennsylvania | 2.9% | 81 |
| 10 | Georgia | 2.9% | 80 |
% Of Establishments
0%
22%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
336
Total SBA Loans
$183.5M
Total Loan Volume
$546K
Average Loan Size
10 yrs
Average Loan Term
10.69%
Average Interest Rate
2,256
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: Per SBA size standards[7], NAICS 541930 qualifies as a small business with average annual receipts of $22.5 million or less over five fiscal years. This threshold determines eligibility for government contracting and SBA loan programs for translation and interpretation service providers. Eligible businesses can access SBA 7(a) loans[8] for working capital, equipment, and acquisition financing, while 504 loans[9] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Live Oak Banking Company | 16 | $55.6M | $3.5M |
| 2 | Bank of America, National Association | 16 | $26.9M | $1.7M |
| 3 | The Huntington National Bank | 32 | $19.5M | $609K |
| 4 | Newtek Bank, National Association | 40 | $16.4M | $410K |
| 5 | Old National Bank | 16 | $14.2M | $886K |
Frequently Asked Questions
Common questions about this industry.
What is the difference between translation and interpretation?
Translation services convert written text from one language to another, while interpretation services involve converting spoken language in real-time. Interpreters work with spoken words in simultaneous or consecutive modes, whereas translators work with written material. Per Census Bureau[10] definitions, both are classified under NAICS 541930.
What is the SBA size standard for NAICS 541930?
Per SBA standards[7], a business in NAICS 541930 is considered small if it has average annual receipts of $22.5 million or less over the preceding five fiscal years.
How many establishments operate in this industry?
Per Census Bureau[5] data, roughly 2,709 establishments were classified under NAICS 541930 in 2020, employing 37,377 people with annual payroll exceeding $1.7 billion.
What is the median wage for interpreters and translators?
Per BLS data[6], the median annual wage was $59,440 in May 2024. The lowest 10 percent earned less than $35,630, while the highest 10 percent earned more than $99,830.
What languages are in highest demand?
Spanish, Mandarin Chinese, Vietnamese, Tagalog, and Arabic are among the most commonly requested languages in the United States. Demand patterns reflect immigration trends and international business activity in specific sectors and geographic areas.
Can translation and interpretation be provided remotely?
Yes, both remote and on-site services are available. Remote interpretation via video conferencing and telephone relay services has grown significantly, particularly for American Sign Language interpretation through video relay services.
What certifications are common for translators and interpreters?
Common certifications include the Certified Interpreter Credential (CIC) for American Sign Language, National Board of Certification for Medical Interpreters (NBCMI), and credentials from the American Translators Association (ATA). Court interpreters often require state certification.
What is the employment outlook?
Employment is projected to grow 2 percent from 2024 to 2034, with roughly 6,900 job openings projected annually. Growth will be driven by demographic factors and globalization, though automation may affect some segments of the translation market.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]Census Bureau data.census.gov
- [6]Bureau of Labor Statistics bls.gov
- [7]SBA size standards sba.gov
- [8]SBA 7(a) loans sba.gov
- [9]504 loans sba.gov
- [10]Census Bureau census.gov
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