Localization is adapting a product or service to meet the linguistic, cultural, and legal requirements of a specific region or market. Globalization is the process of standardizing a product or service to meet the global needs of consumers. The key difference is that localization looks at the unique needs of each region, while globalization looks at the universal needs of all consumers. Localization requires more time and effort, but it results in a more tailored product or service that meets the specific needs of each region. Globalization is faster and easier to implement, but it can lead to products and services that may not suit specific areas.