Telecommunication Relay Service Market is set to register 5% CAGR through 2027; Global Market Insights Inc.
Telecommunication Relay Service Market is poised to grow with a lucrative CAGR from 2021 to 2027 impelled by rising government initiatives to increase awareness among individuals about the benefits of telecommunication relay services and a growing number of people with hearing and speech disabilities.
Selbyville, Delaware, United States – August 5, 2021 /MarketersMedia/ —
Telecommunication relay service (TRS) market size is projected to surpass US$6 billion by 2027. A telecommunications relay service (TRS), or web-based relay service allows people who are deaf, deafblind, hard of hearing, or have speech disabilities to communicate to standard telephone users with the help of a keyboard or assistive devices. Rising government initiatives to increase awareness among individuals about the benefits of telecommunication relay services and a growing number of people with hearing and speech disabilities are expected to positively impact industry growth.
According to the World Health Organization, the number of people with some degree of hearing loss is estimated to be nearly 2.5 billion by 2050. To cater to expanding deaf patient population, government organizations around the world are working towards the upliftment of communication infrastructure to provide effective communication services.
Following mentioned are some factors of telecom relay services augmenting industry trends –
High demand for captioned telephone service (CTS)
The captioned telephone service (CTS) segment is expected to amass a CAGR of more than 5.0% by 2027. Captioned telephones have a built-in display interface that enables deaf individuals to view real-time captions. However, CTS requires traditional telephone and VoIP connectivity to render facilities to deaf individuals. The incorporation of internet protocol technology allows companies to provide these services on multiple devices such as smartphones, tablets, and others.
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IP-relay technology-based telecommunication services
The IP relay technology segment is likely to witness significant gains by 2027. The growing adoption of smartphones and internet services has given a tremendous boost to technological development. The IP relay technology allows individuals to get accessibility to additional services through computers, tablets, smartphones, and others. Owing to these benefits along with enhanced service quality and capability to manage calls in volume, the high preference for IP-relay based telecommunication relay services among individuals is supporting industry growth.
Easy accessibility of video relay service (VRS)
Several industry players are experiencing a considerable amount of traffic in video relay service (VRS) and other relay services. Companies including BT Relay UK, KCOM Group Ltd., and Bell Canada are witnessing a high adoption rate for various relay services by customers. The growing demand for telecommunication relay services can be attributed to the easy accessibility of VRS and other reply services.
Rapid digital transformation in APAC
Asia Pacific telecommunication relay service industry is anticipated to rise at a CAGR of over 6.0% in the coming years. Rapid digital transformation and government partnerships with private organizations to introduce advanced devices to facilitate disabled people is the prime reason for regional industry expansion. For example, the Singapore Association for the Deaf in September 2019 entered into an agreement with technology company Grab to create awareness for the deaf community. The company is focused on improving its Grab platform to make it more accessible to people with hearing difficulties to effectively communicate with others.
Prominent enterprises functioning in the telecommunication relay service industry are eyeing on strategic collaborations for providing effective TRS across the globe. For example, Convo Communications LLC in April 2020 joined forces with Communication Service for the Deaf (CSD) and Registry of Interpreters for the Deaf Inc. (RID) to render relay services in press conferences of the White House. The company provides American Sign Language (ASL) interpretation services to the deaf community across the region. This collaboration helped the company to increase its brand equity across the industry and government agencies.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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