Global Voice/Speech Recognition Systems Industry

  • January 2012
  • -
  • Global Industry Analysts

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 216 companies worldwide.

Table Of Contents




1. GLOBAL MARKET OVERVIEW 1
Speech Recognition Systems - A Prelude 1
Current Market Scenario 1
Technology Hurdles Obstruct Wider Acceptance 2
Technology Providers Focus on Improving Awareness Levels of
Enterprises 2
Ranking of Speech Recognition Solutions Adoption by Industry
Sectors 3
Automated Voice Systems Cannot Completely Eliminate Human Agents 3
Speech Recognition Software Prices to Go Down in Future 3
Hosted Speech Services Offer Significant Benefits to Smaller
Enterprises 3
Speech Recognition: A Review 4
Ubiquitous Applications Characterize the Market for SR Systems 4
Growing Popularity of SR Triggers Innovations in Voice-
Interface Devices 5
Pitfalls of Embedded Speech Unleash a Search for Effective
Alternatives 5
Network-Based SR and Distributed SR Technologies Rise in Popularity 6
Open Standards: A Key Architectural Requisite 6
Use of Speech Technology in Next Generation Networks 7
Speech-based Searching Gaining Pace 7
Demand for Speech Analytics On the Rise 8
The Internet Holds Out Lucrative Potential for Speech
Recognition Technologies 8
Audio Mining for Searching Online Audio and Video Content 9
Speech Recognition Technologies Get a Fillip from Video
Integration 9
SR Technology Vendors Focus on Voice Internet and Speech
Embedded Systems 10
Fast Paced Adoption of SR Systems at Contact Centers Drives
Growth 10
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 and Average
Call Cost 11

Table 2: Payback Period Analysis for a 72-Port Speech-Enabled
IVR System 11
Biometrics Offers Lucrative Opportunities for Voice
Recognition Systems 11
Increasing Security Threats Drive Voice Verification
Biometrics Market 12
Speech Security: A Business Case for Growth 12
Voice Recognition Systems and Software - An Outlook 12
Table 3: World Recent Past, Current and Future Analysis for
Voice Recognition Systems and Software by Geographic
Region/Country - US, Canada, Europe, Asia-Pacific (including
Japan), Latin America and Rest of World Markets
Independently Analyzed with Annual Revenues in US$ Million
for Years 2010 through 2015 13

Table 4: World 5-Year Perspective for Voice Recognition
Systems and Software by Geographic Region - Percentage
Breakdown of Annual Revenues for US, Canada, Europe,
Asia-Pacific (including Japan), Latin America and Rest of
World Markets Independently Analyzed for Years 2011 and 2015 14
Emergence of Standards Contributes to the Automated Speech
Recognition Market 14
Applications of Automated Speech Recognition 15
Rapid Growth in VoIP Driving Speech Recognition Technology 16
Demand for Speech Enabled IVRs on the Rise 16
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 2010 17

Table 6: North American Market for Interactive Voice
Recognition (IVR) Systems (2010): Percentage Share Breakdown
of Revenues by Technology 17
VoiceXML Set to Become the Dominant IVR Technology 17
IVR Vendors Shift Focus to Small and Medium Sized Companies 18
Mobile Phones: The Next Frontier for Speech Recognition Systems 18
Growing Adoption of SR Technology in “In-Vehicle Systems” 19
Demographic Trends and Findings 20
Telematics and Car Infotainment: A Boon for the SR Technology
Market 20
Technology Challenges to Reckon With 21
Promising Applications in the Healthcare Industry: A Sneak Peek 21
Redefining the Standards of Healthcare Efficiency 21
A Peek into Technology Adoption 22
Radiology Department and Point-of-Care: Potentially Strong
Application Areas 23
How Real Is the Threat of Substitution of Medical
Transcription Services? 23
Speech-Enabled Self-Service Solutions Have Healthcare
Providers Up by the Ears 24
Growth Drivers In a Capsule: A Recapitulation 24
Market for Voice/Speech Recognition Systems Remained Mostly
Resilient During Recession 25

2. TECHNOLOGY/PRODUCT OVERVIEW 27
Speech Recognition: A Definition 27
Voice Recognition Systems 27
Competition 27
Top Voice/Speech Recognition Software in 2009 28
Voice Service Categories and Market Leaders for the Year 2010 28
Application Areas 29
Strengths and Weaknesses 29
Speech-Enabled IVR Solutions 29
Benefits of Speech-Enabled IVR Solutions 31
Voice/Speech Recognition Systems: An Evolution Scan 31
Noteworthy Milestones in VRS Development 32
A Primer 32
1700s and 1800s 32
1960s and 1970s 32
1980s 33
1990s 33
2000s 33
Types of Speech Recognition (SR) Systems 33
Speaker Dependent System 33
Speaker Independent System 34
Discrete Speech System 34
Continuous Speech System 34
What is Speech Recognition Software? 34
Speech Recognition Framework 34
Telephony Platform 35
Enterprise-Based Speech Recognition Applications 35
Network-Based Speech Recognition Applications 35
Voice Portals 35
Speech Recognition Technology: A Classification 35
Major Brands in the Market 36
Key End-Use Application Sectors 36
HealthCare 37
Military/Aerospace 37
High-Performance Fighter Aircraft 37
Helicopters 38
Battle Management Command Centers 38
Training of Air Traffic Controllers 39
Communications and Telephony 39
Automotive Industry 39
Commercial Establishments 40
Consumer Electronics and Appliances 41
Other Applications of Speech Recognition Programs 41
What is VoiceXML Technology? 42
VoiceXML Design 42
VoiceXML Improves Customer Service 42
VoiceXML Offers Benefits at Low Costs 43
VoiceXML - Enhancing Speech Recognition Technology 44

3. STRATEGIC CORPORATE DEVELOPMENTS 45

4. PRODUCT LAUNCHES/INNOVATIONS 62


REGIONAL MARKET OVERVIEW 96

1. NORTH AMERICA 96
IVR Market in North America: An Overview 96
Where Do the Opportunities Lie? 96
Factors Influencing the IVR Market 96
Packaged Applications Drive Growth 97
Table 7: US Market for Speech Applications (2010):
Percentage Breakdown of Value Sales for Custom Applications
and Packaged Applications 97
Speech Recognition Market in the United States: A Review 97
Table 8: US Speech Technology Market (2010): Percentage
Breakdown by Application - Call Centers, Directory,
Communications, Business Process, Transactions, and Others 98

Table 9: US Market for Speech Technology (2010): Percentage
Breakdown of Dollar Sales by Product Segment - Automatic
Speech Recognition, Text-to-Speech, and Speaker Verification 98
Growing Adoption of Speech Recognition Systems Among American
Doctors 98
Speech Recognition Market in Canada: A Review 99
Canadian Government Steps in to Push Up the Technology’s
Adoption 99
Key Statistical Findings 100
Table 10: North American Market for Interactive Voice
Response (IVR) Systems by End-Use Sector - Percentage
Breakdown of Revenues for Banking/Finance, Telecom,
Healthcare, Insurance, Travel/Hospitality, Healthcare and
Other Markets for the year 2010 100

2. EUROPE 101
Voice Recognition in the European Healthcare Industry: A Review 101
Major Growth Drivers and Challenges 101
Increased Integration of Speech Technologies in Hosted IVRs 101

3. ASIA PACIFIC 102
Interactive Voice Response (IVR) Systems in Call Centers: A
Review 102
Organic Growth of Telecom and Banking Industries Fuel IVR
Adoption 102
SR Technologies Expand to Encompass Numerous Asian Languages 102
Focus on Select Regional Markets 102
Australia 102
Korea 103


GLOBAL DIRECTORY

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