Localization is adapting something for local use. Often this refers to language translation, but the scope is much wider, covering issues such as local customs and morals, adapting to include local content etc.
Due to the results of globalization, many companies and products find themselves in many countries worldwide. This has given rise to increasing requirements for localization of products and services.
Also, as an alternative to economic globalization, localization has been used to describe the process of concentrating production of goods nearer their end-users, rather than wherever the lowest costs are. The idea is to cut down environmental and other external costs that can occur with the extra transportation and regional specialisation that globalization encourages.
L10N is an abbreviation for localization: the 10 stands for the 10 inner letters that have been suppressed.
See also: