Telecommunication Relay Service Market to Hit $6B by 2027; Global Market Insights, Inc.

SELBYVILLE, Del., March 4, 2021 /PRNewswire/ -- Global Market Insights Inc. has recently added a new report on the Telecommunication Relay Service market, which estimates the market valuation for TRS will cross US $6 billion by 2027. An upsurge in government efforts to facilitate telecommunication relay services and the growing demand from large populations are expected to significantly contribute to the market growth.

The growing demand for communication services from individuals with speech and hearing difficulties is supporting telecommunication relay services' market growth. The government organizations across geographies are emphasizing more on enabling communication infrastructure to cater to the large deaf community. The telecommunication relay services help individuals and enterprises to enable effective communication. The increasing need to provide communication infrastructure to populations with difficulty in speaking and hearing is expected to support the market growth.

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The captioned telephone service segment is anticipated to grow at a CAGR of above 5.0% from 2021 to 2027. The captioned telephones feature a display interface to view real-time captions to deaf individuals. The captioned telephone services are provided with support to both traditional telephone and VoIP connectivity. The emergence of internet protocol technology has enabled enterprises to provide captioned telephone services on multiple devices including tablets, smartphones, etc.

The IP relay technology segment is projected to witness exponential growth over the forecast timeline i.e., from 2021 to 2027. The expansive penetration of mobile devices and internet services is supporting the technology growth. The IP relay technology provides additional accessibility to services through computers, smartphones, tablets, etc. Additionally, the enhanced service quality and capability to initiate calls simultaneously are driving individuals to prefer IP-based telecommunication relay services.

The demand for TRS in personal end use is anticipated to grow exponentially from 2021 to 2027. The enterprises operating in the market are witnessing an upsurge in video relay service traffic and demand for other relay services. The companies including Bell Canada, KCOM Group Ltd., and BT Relay UK have witnessed a significant increase in the adoption of relay services across individual customers. The lack of communication channels to collaborate with other individuals is contributing to the rise in demand for telecommunication relay services.

Asia Pacific is projected to grow significantly in the global telecommunication relay service market with over a 6.0% CAGR over the forecast timeline. The growth is attributed to favorable government partnerships with private enterprises and increasing digitization. For instance, in September 2019, the Singapore Association for the Deaf signed an agreement with Grab, a technology company, to promote the awareness for the deaf community. In addition, the company focused on facilitating its Grab platform to be more accessible to individuals with hearing difficulties to communicate effectively with the public.

The companies operating in the market are focusing on strategic partnerships for providing telecommunications relay services across geographies. For instance, in April 2020, Convo Communications LLC partnered with Communication Service for the Deaf and Registry of Interpreters for the Deaf Inc. to provide relay services in White House press conferences. The company provided American Sign Language (ASL) interpretation services to the hard of hearing and deaf community. This helped the company to strengthen its brand equity across government agencies.

Some major findings of the telecommunication relay service market report include:

• The growing technology advancements in internet protocols and mobile devices are expected to contribute to market growth.
• North America is expected to hold a major market share for telecommunication relay services due to the expansive presence of enterprises and the penetration of diverse relay services.
• Major players operating in the telecommunication relay service market are Avaya Inc., Bell Canada, Cisco Systems Inc., Relay UK BT, and Sprint Relay.
• Companies operating in the market are focusing on strategic collaborations with government agencies to enhance the market position.

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Partial chapters of report table of contents (TOC):

Chapter 3.   Telecommunication Relay Service (TRS) Industry Insights

3.1.  Introduction

3.2.  Industry segmentation

3.3.  Impact of COVID-19 outbreak

3.3.1. By region

3.3.1.1.    North America

3.3.1.2.    Europe

3.3.1.3.    Asia Pacific

3.3.1.4.    Latin America

3.3.1.5.    Middle East & Africa

3.3.2. Industry value chain

3.3.2.1.  Telecommunication relay technology providers

3.3.2.2.    Marketing & distribution channels

3.3.3. Competitive landscape

3.3.3.1.  Strategy

3.3.3.2.    Distribution network

3.3.3.3.    Business growth

3.4.  Telecommunication relay service industry ecosystem analysis

3.5.  Technology & innovation landscape

3.5.1. VoIP

3.5.2. Unified communication and collaboration

3.6.  Regulatory landscape

3.6.1. Federal Communications Commission (U.S.)

3.6.2. The United Nations Convention on the Rights of Persons with Disabilities (UNCRPD)

3.6.3. Canadian Radio-television and Telecommunication Commission [CRTC]

3.6.4. The Communications Act, 2003 (UK Electronic Program Guide)

3.6.5. The European Commission Universal Service Directive (Directive 2002/22/EC), 173

3.7.  Industry impact forces

3.7.1. Growth drivers

3.7.1.1.  Rapid adoption of mobile devices

3.7.1.2.  Rising demand for unified communications

3.7.1.3.  Growing penetration of VoIP devices

3.7.1.4.  Favorable government initiatives to facilitate telecommunication relay services

3.7.2. Industry pitfalls & challenges

3.7.2.1.  Limited in-house capabilities

3.7.2.2.  Concerns regarding frauds and cybersecurity

3.8.  Growth potential analysis

3.9.  Porter's analysis

3.10. PESTEL analysis

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Telecommunication Relay Service Market size worth $6 Bn by 2027
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.

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SOURCE Global Market Insights Inc.