Reportlinker.com has announced the addition of new report on global voice recognition systems industry. The report, Global Voice/Speech Recognition Systems Industry, gives a global outlook on voice/speech recognition systems. It provides a collection of market briefs, concise summaries and statistical anecdotes of research findings.
There is growing demand for speech based searching and analytics. This demand has given rise to growing popularity of network-based speech recognition and distributed speech recognition technologies. The report discusses not only this trend but also the increasing focus on voice Internet and speech-enabled systems by technology vendors.
The report provides a collection of market briefs, concise summaries and statistical anecdotes of research findings. It also discusses the impact of the ongoing economic recession while also identifying growth drivers.
Some of the growth drivers of voice recognition systems are the fast paced adoption of speech recognition systems at contact centers, growing use of biometrics, and technology advancements in mobile and in-vehicle applications.
The report also presents a recapitulation of latest strategic corporate developments and product launches/innovations. It also includes an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 216 companies worldwide.
Earlier in November 2011, Global Industry Analysts projected the IVR market to reach $2.78 billion by the year 2017.
As part of the larger customer relationship management (CRM) sector, IVR technologies are making advances rapidly in speech analytics, voice recognition, and new customer service software including self-service developments. With these developments comes increased competition, and higher standards for customer relationship strategy, the report said.
Most recently Global Industry Analysts also predicted the overall global market for speech technology will reach around $31.3 Billion by the year 2017.
According to the firm, Speech Technology market is one of the best revenue grossing sectors for the software industry, and showed extra-ordinary resilience during the recession period. A number of additional factors such as cost-reduction, productivity improvement, security enhancement and consumer convenience have been considerably boosting the market penetration of the technology.
Edited by Amanda Ciccatelli