Telecommunication Relay Service Market size worth $6 Bn by 2027
Published Date: March 2, 2021 Authors: Preeti Wadhwani, Smriti Loomba
Telecommunication Relay Service (TRS) Market size is set to surpass USD 6 billion by 2027, according to a new research report by Global Market Insights, Inc.
The TRS market is anticipated to grow significantly over the forecast period on account of growing market demand to improve the telecom services for physically disabled such as deaf and blind. The government authorities across the globe are partnering with telecommunication companies to offer cost-effective communication services to the deaf and blind citizens. The major telecom authorities, such as FCC and TRAI, have regularized pricing of telecommunication relay services to offer affordable telecom services.
The rising number of deaf and blind persons worldwide to propel the market growth
The telecommunication relay service market is estimated to witness around 5% CAGR through 2027 driven by rising number of people with hearing disabilities. According to the statistics published by WHO in March 2020, around 466 million people worldwide were having hearing disabilities, and it is forecast to reach 900 million by 2050. The increase in deaf and blind persons enabling the telecom service providers to develop innovative telecommunication relay services.
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Browse key industry insights spread across 170 pages with 233 market data tables and 23 figures & charts from the report, “Telecommunication Relay Service (TRS) Market Size By Service (Text-to-Voice, Voice Carry Over, Captioned Telephone Service, IP Captioned Telephone Service, Internet Protocol Relay Service, Video Relay Service), By Technology (IP Relay, Traditional Relay), By End Use (Personal, Government, Enterprise), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
The increasing internet penetration is a major factor driving the IP caption TRS market demand
The IP caption relay service market is poised to register growth at above 9% CAGR till 2027 impelled by rising internet penetration globally. The increase in the number of internet penetration allows telecom service providers to utilize IP technology in combination with Captioned Telephone Service (CTS). IP caption telecommunication relay service allows deaf persons to take advantage of advanced communication and IP technology at their residences and workplaces. In recent COVID-19 pandemic, the market demand for IP caption telecommunication relay services has increased significantly due to rising work-from-home trend.
Growing market demand for IP technologies is restraining the traditional relay service market
The traditional relay services segment is witnessing significant growth rate of more than 5% during 2021 to 2027. The traditional relay services use the traditional telephone lines to help the people with disabilities to communicate more effectively. A communication assistant is used in traditional relay services to help the deaf and blind people for smooth communication. The growing demand for IP-based relay technologies is hampering the market growth.
Enterprise segment is likely to grow significantly
The enterprise application is set to grow significantly over 2021-2027 fueled by rising emphasis on the inclusion of physically disabled persons in corporate environment. The major multinational companies are employing the deaf and blind people. These multinational companies are using telecommunication relay services to support smooth communication for these employees. The supportive government initiatives are also helping the market demand for telecommunication relay services across enterprises.
The supportive government initiatives in Europe are supporting the market demand
Europe telecommunication relay service market is expected to account for USD 2 billion revenue by 2027 led by the well-established telecom industry in the region. The major European telecommunication service providers are emphasizing on improving the communication for every individual. The rising investment in the telecommunication industry is another factor supporting the TRS industry growth. The growing emphasis on IP-based technologies is also boosting the demand for IP-based relay services in the region.
Focus on developing new services by key players to augment market share
The companies operating in the industry are emphasizing on the development of next-generation telecommunication relay services to stay ahead in the growing market competition. For instance, in November 2019, BT Group launched Relay UK service that translates text to speech and vice versa. This new service helped the deaf and blind citizens above age of 20 in the UK to communicate efficiently.
Some of the key players operating in the telecommunication relay service market are Avaya Inc., Bell Canada, Captel Inc., Cisco Systems Inc., Convo Communications LLC, KCOM Group Ltd., Purple Communications Inc., Relay UK BT (BT Group Plc), Skype Technologies S.A.R.L., Sorenson Communications LLC, T-Meeting, T-Mobile USA Inc., ZVRS, and DeafTawk.