Global Voice/Speech Recognition Systems Industry
The global outlook series on Voice/Speech Recognition Systems provides a collection of market briefs, concise summaries and statistical anecdotes of research findings. The report offers a rudimentary overview of the industry and details trends such as, growing demand for speech-based searching and analytics, increased focus on voice Internet and speech-enabled systems by technology vendors, and growing popularity of network-based speech recognition and distributed speech recognition technologies. Additionally, the impact of the ongoing economic recession is discussed, while also identifying growth drivers such as 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. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 234 companies worldwide.
1. GLOBAL MARKET OVERVIEW 1
Speech Recognition Systems: A Prelude1
Current Scenario: A Review 1
Ubiquitous Applications Characterize the Market for SR Systems2
Growing Popularity of SR Triggers Innovations in Voice-
Interface Devices 2
Pitfalls of Embedded Speech Unleash a Search for Effective
Alternatives3
Network-Based SR & Distributed SR Technologies Rise in
Popularity 3
Open Standards: A Key Architectural Requisite3
Use of Speech Technology in Next Generation Networks4
Speech-based Searching Gaining Pace 4
Demand for Speech Analytics On the Rise5
The Internet Holds Out Lucrative Potential for Speech
Recognition Technologies 5
Audio Mining for Searching Online Audio and Video Content 6
Speech Recognition Technologies Get a Fillip from Video
Integration 6
SR Technology Vendors Focus on Voice Internet & Speech
Embedded Systems 6
Fast Paced Adoption of SR Systems at Contact Centers Drives
Growth7
Table 1: Cost Comparison of Customer Calls Handled by A
Single Call Service Agent and a Speech Enabled IVR System:
Breakdown of Number of Calls, Call Cost per Year & Average
Call Cost 7
Table 2: Payback Period Analysis for a 72-Port Speech-Enabled
IVR System 8
Biometrics Offers Lucrative Opportunities for Voice
Recognition Systems 8
Increasing Security Threats Drive Voice Verification
Biometrics Market 8
Speech Security: A Business Case for Growth 8
Table 3: World Recent Past, Current & Future Analysis for
Voice Recognition Technology in Biometrics by Geographic
Region/Country - US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Middle East, and Latin America Markets
Independently Analyzed with Annual Sales in US$ Thousand
for Years 2008, 2010, 2012 & 2015 9
Emergence of Standards Contributes to the Automated Speech
Recognition Market 9
Applications of Automated Speech Recognition 10
Table 4: World Long Term Analysis for Automatic Speech
Recognition by Geographic Region - USA, Canada, Japan,
Europe, and Rest of World Markets Independently Analyzed
with Annual Sales Figures in US$ Million for Years 2010,
2012, and 2014 10
Rapid Growth in VoIP Driving Speech Recognition Technology 11
Demand for Speech Enabled IVRs on the Rise 11
Table 5: World Market for Interactive Voice Response (IVR)
Systems by Geographic Region - Percentage Breakdown of
Revenues for US, Canada, Europe and Rest of World for the
Year 2008 12
Table 6: North American Market for Interactive Voice
Recognition (IVR) Systems (2007): Percentage Share Breakdown
of Revenues by Technology 12
VoiceXML Set to Become the Dominant IVR Technology 12
IVR Vendors Shift Focus to Small & Medium Sized Companies 13
Mobile Phones: The Next Frontier for Speech Recognition Systems 13
Growing Adoption of SR Technology in “In-Vehicle Systems” 13
Demographic Trends & Findings 14
Telematics & Car Infotainment: A Boon for the SR Technology
Market 15
Technology Challenges to Reckon With15
Promising Applications in the Healthcare Industry: A Sneak Peek 15
Redefining the Standards of Healthcare Efficiency 15
A Peek into Technology Adoption 16
Radiology Department & Point-of-Care: Potentially Strong
Application Areas 16
How Real Is the Threat of Substitution of Medical
Transcription Services? 17
Speech-Enabled Self-Service Solutions Have Healthcare
Providers Up by the Ears 17
Growth Drivers In a Capsule: A Recapitulation18
Market for Voice/Speech Recognition Systems Remains Buoyant
Despite Recession 18
2. TECHNOLOGY/PRODUCT OVERVIEW 19
Speech Recognition: A Definition 19
Voice Recognition Systems 20
Application Areas 20
Strengths and Weaknesses 20
Speech-Enabled IVR Solutions 20
Benefits of Speech-Enabled IVR Solutions 21
Voice/Speech Recognition Systems: An Evolution Scan 22
Noteworthy Milestones in VRS Development 22
A Primer 22
1700s & 1800s22
1960s & 1970s23
1980s23
1990s23
2000s23
Types of Speech Recognition (SR) Systems 23
Speaker Dependent System 23
Speaker Independent System 23
Discrete Speech System23
Continuous Speech System 24
What is Speech Recognition Software? 24
Speech Recognition Framework 24
Telephony Platform 24
Enterprise-Based Speech Recognition Applications 24
Network-Based Speech Recognition Applications24
Voice Portals 24
Speech Recognition Technology: A Classification 25
Major Brands in the Market 25
Key End-Use Application Sectors25
HealthCare 26
Military/Aerospace 26
High-Performance Fighter Aircraft 26
Helicopters27
Battle Management Command Centers 27
Training of Air Traffic Controllers27
Communications & Telephony 27
Automotive Industry 28
Commercial Establishments 28
Consumer Electronics & Appliances 29
Other Applications of Speech Recognition Programs 29
What is VoiceXML Technology? 29
VoiceXML Design 30
VoiceXML Improves Customer Service 30
VoiceXML Offers Benefits at Low Costs 31
VoiceXML - Enhancing Speech Recognition Technology 31
3. STRATEGIC CORPORATE DEVELOPMENTS 31
4. PRODUCT LAUNCHES/INNOVATIONS 42
REGIONAL MARKET OVERVIEW
1. NORTH AMERICA 67
IVR Market in North America: An Overview 67
Where Do the Opportunities Lie? 68
Factors Influencing the IVR Market 68
Packaged Applications Drive Growth 68
Table 7: US Market for Speech Applications (2005):
Percentage Breakdown of Value Sales for Custom Applications
and Packaged Applications 68
Speech Recognition Market in the United States: A Review 69
Table 8: US Speech Technology Market (2007): Percentage
Breakdown by Application - Call Centers, Directory,
Communications, Business Process, Transactions, and Others 69
Table 9: US Market for Speech Technology (2007): Percentage
Breakdown of Dollar Sales by Product Segment - Automatic
Speech Recognition, Text-to-Speech, and Speaker Verification69
Growing Adoption of Speech Recognition Systems Among
American Doctors 70
Speech Recognition Market in Canada: A Review 70
Canadian Government Steps in to Push Up the Technology’s
Adoption 70
Key Statistical Findings 71
Table 10: North America Current & Future Analysis for
Interactive Voice Response (IVR) Systems by Product Segment -
Less than 24 Ports, 25 to 46 Ports, 47 to 64 Ports and 65
and Above Ports Markets Independently Analyzed with Annual
Revenues in US$ Million for the Years 2008, 2010, and 201271
Table 11: North American Market for Interactive Voice
Response (IVR) Systems by End-Use Sector - Percentage
Breakdown of Revenues for Banking/Finance, Telecom,
Insurance, Travel/Hospitality, Healthcare and Other Markets
for the year 2008 72
Table 12: North American Market for Interactive Voice
Response (IVR) Systems (2006): Percentage Share Breakdown of
Revenues of Major Players -Avaya, Nortel, Intervoice,
Genesys, IBM, Cisco, Envox, Aspect Software, and Others 72
2. EUROPE 73
Voice Recognition in the European Healthcare Industry: A Review 73
Major Growth Drivers and Challenges 73
3. ASIA PACIFIC 73
Interactive Voice Response (IVR) Systems in Call Centers: A
Review73
Organic Growth of Telecom and Banking Industries Fuel IVR
Adoption 73
SR Technologies Expand to Encompass Numerous Asian Languages74
Focus on Select Regional Markets 74
Australia 74
Korea 74
