The Telecom Relay Services market is poised to grow with a lucrative CAGR from 2021 to 2027, driven by growing government initiatives to educate individuals about the benefits of Telecom Relay Services and to a growing number of people. suffering from hearing and speech problems.
The market size for Telecommunications Relay Services (TRS) is expected to exceed US $ 6 billion by 2027. A Telecommunications Relay Service (TRS), or web-based relay service, enables deaf people, deafblind, hard of hearing or speech impaired communicate to standard telephone users using keypads or assistive devices. Growing government initiatives to educate individuals on the benefits of telecommunications relay services and a growing number of people with hearing and speech disabilities are expected to positively impact the growth of the industry.
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 respond to the growing population of deaf patients, government organizations around the world are working to improve the communication infrastructure to provide effective communication services.
Below are mentioned some factors of telecommunications relay services increasing industry trends –
High demand for closed captioned telephone service (CTS)
The Closed Captioned Phone Service (CTS) segment is expected to reach a CAGR of over 5.0% by 2027. Closed captioned phones have a built-in display interface that allows deaf people to view closed captions. in real time. However, CTS requires traditional telephone and VoIP connectivity to make the facilities available to deaf people. The incorporation of Internet Protocol technology allows businesses to provide these services on multiple devices such as smartphones, tablets and others.
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Telecommunications services based on IP relay technology
The IP relay technology segment is expected to experience significant gains by 2027. The growing adoption of smartphones and internet services has significantly boosted technological development. IP relay technology allows individuals to access additional services through computers, tablets, smartphones and more. As a result of these advantages, along with the improved quality of service and the ability to handle volume calls, the strong preference for IP relay-based telecom relay services among consumers is supporting the growth of industry.
Easy access to Video Relay Service (VRS)
Several industry players experience a considerable amount of traffic in Video Relay Service (VRS) and other relay services. Companies such as BT Relay UK, KCOM Group Ltd. and Bell Canada are seeing a high adoption rate of various relay services by customers. The increasing demand for telecommunications relay services can be attributed to the ease of access to VRS and other answering services.
Rapid digital transformation in APAC
The Asia-Pacific telecommunications relay service industry is expected to grow at a CAGR of over 6.0% in the coming years. The rapid digital transformation and government partnerships with private organizations to introduce advanced devices for people with disabilities are the main reason for the expansion of the regional industry. For example, the Singapore Association for the Deaf entered into an agreement in September 2019 with technology company Grab to educate the deaf community. The company is focused on improving its Grab platform to make it more accessible to people with hearing loss in order to communicate effectively with others.
Leading companies operating in the telecommunications relay services industry are considering strategic collaborations to provide efficient 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 provide relay services during White House press conferences. The company provides American Sign Language (ASL) interpretation services to the region’s deaf community. This collaboration has helped the company increase its brand value in industry and government agencies.
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Source: Marketers Media
Version number: 89040395
COMTEX_391052481 / 2773 / 2021-08-05T22: 03: 23