The telecommunication relay service (trs) global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Telecommunication Relay Service (TRS) Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size -
The
telecommunication relay service (TRS) market size has grown rapidly in
recent years. It will grow from $6.95 billion in 2023 to $8.03 billion
in 2024 at a compound annual growth rate (CAGR) of 15.6%. The growth in
the historic period can be attributed to rising awareness of inclusive
communication, globalization and cross-border communication, mobile
accessibility, and compliance with accessibility standards.
The telecommunication relay service (TRS) market size is expected to see rapid growth in the next few years. It will grow to $14.51 billion in 2028 at a compound annual growth rate (CAGR) of 15.9%. The growth in the forecast period can be attributed to cybersecurity measures, integration with smart assistants, remote work trends, telehealth and remote healthcare services, customization, and personalization. Major trends in the forecast period include increased integration of AI and machine learning, the rise of next-generation communication technologies, innovations in user interfaces (UI) and user experiences (UX), and collaboration with accessibility advocates and organizations.
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Scope Of Telecommunication Relay Service (TRS) Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Telecommunication Relay Service (TRS) Market Overview
Market Drivers -
The
increasing number of deaf and hard-of-hearing people is expected to
propel the growth of the telecommunication relay service (TRS) market
going forward. Deaf and hard-of-hearing (DHH) people are individuals who
experience varying degrees of hearing loss, impacting their ability to
hear and understand auditory information. The number of Deaf and
hard-of-hearing (DHH) people is rising due to aging populations and
various environmental factors such as exposure to loud noises, ototoxic
medications, and infectious diseases. Telecommunication relay services
significantly facilitate effective communication for deaf and
hard-of-hearing individuals, offering accessible relay services that
bridge communication gaps with the hearing community. For instance, in
February 2024, the World Health Organization (WHO), a Switzerland-based
specialized agency, reported that over 1.5 billion people currently live
with hearing loss, and it is anticipated that this number could rise to
2.5 billion by 2050. This increase would mean that over 700 million
individuals worldwide would require hearing rehabilitation during that
period. Therefore, the increasing number of deaf and hard-of-hearing
people is driving the growth of the telecommunication relay service
(TRS) market.
Market Trends -
Major companies operating in the
telehealth software market are focused on developing advanced solutions,
such as single-interface cloud-based solutions, to gain a competitive
edge in the market. A single-interface cloud-based solution refers to
integrated platforms that offer a comprehensive suite of telehealth
services accessible through a unified user interface. For instance, in
June 2022, GoMeyra, a US-based cloud software company, launched the
GoVirtual Clinic, a new telehealth platform and single-interface
cloud-based solution that allows labs, physicians, or nurses to
administer medical tests and consult with patients over a secure remote
platform. GoVirtual Clinic is a next-generation platform that provides
medical practitioners with a suite of solutions for conducting virtual
patient appointments while managing patient care and associated
electronic health data. The platform's first phase, which was just
published, includes tools for smoothly scheduling and managing virtual
testing appointments, ordering test kits, monitoring online waiting
rooms, conducting virtual appointments, and sharing test results with
patients in real-time.
The telecommunication relay service (TRS) market covered in this report is segmented –
1) By Type: Public Service, Private Service
2) By Technology: Internet Protocol (IP) Relay, Web Relay
3)
By Service: Text-to-voice, Voice Carry Over, Captioned Telephone
Services, Internet Protocol (IP) Captioned Telephone Services, Video
Relay Services, Internet Protocol Relay services
4) By End-User: Enterprise, Public, Personal
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Regional Insights -
North
America was the largest region in the telecommunication relay service
(TRS) market in 2023. Asia-Pacific is expected to be the fastest-growing
region in the forecast period. The regions covered in the
telecommunication relay service (TRS) market report are Asia-Pacific,
Western Europe, Eastern Europe, North America, South America, Middle
East and Africa.
Key Companies -
Major companies operating in
the telecommunication relay service (TRS) market are American Telephone
and Telegraph Company Inc. (AT&T Corporation), International
Business Machines Corporation, Cisco Systems Inc., Oregon Relay Service,
Bell Canada Inc., Hong Kong Broadband Network Limited, Far EasTone
Telecommunications, Purple Communications Inc., CaptionCall, Brastel Co
Ltd, Enspyre Limited, Taiwan Star Telecom Corporation, Convo
Communications LLC, Dialogic Corporation, Dynasky International Corp,
iTalk Global Communications Inc, Vermont Technologies, ClearCaptions
LLC, Stratus Video LLC, InnoCaption, Hamilton Relay Inc., Stratus Video
LLC, InnoCaption, Hamilton Relay Inc.
Table of Contents
1. Executive Summary
2. Telecommunication Relay Service (TRS) Market Report Structure
3. Telecommunication Relay Service (TRS) Market Trends And Strategies
4. Telecommunication Relay Service (TRS) Market – Macro Economic Scenario
5. Telecommunication Relay Service (TRS) Market Size And Growth
…..
27. Telecommunication Relay Service (TRS) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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