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Speech Recognition
to Explode into the Mainstream: Software Revenues to Exceed $ 2
Billion in Next Two Years
SCOTTSDALE, Ariz., April 2, 2001
- Speech recognition is poised to enter every walk of life as new
applications are developed and prices drop, according to Cahners
In-Stat Group (http://www.instat.com). In the first ever comprehensive
speech recognition market report, the high-tech market research
firm finds that in 2005, sales of speech recognition software engines,
the basis for all speech recognition products, will reach $2.7 billion.
"The explosion of this market is due
to several factors. First, microprocessor technology is advancing
to the point where speech recognition products are made faster,
better, and cheaper. Secondly, demand from service providers and
voice portals are creating new markets for speech recognition products.
Finally, development tools such as VoiceXML make it easier to create
cutting edge products," says Brian Strachman, Senior Analyst with
In-Stat's Voice Applications Service. "Coupled with the explosive
growth in contact centers and ever increasing demand for CRM applications,
there is great opportunity for both software providers and application
developers to capitalize on the speech recognition explosion." The
result is a speech recognition enabled world where the technology
can be found at every office, call center, wireless provider, and
e-vendor.
In-Stat has also found that:
- Voice Portals are refocusing their
efforts toward the enterprise
- Service providers and other subscriber
based businesses are demanding a simple voice interface to their
services
- As processor speeds increase, so
do speech recognition capabilities.
- The market can be segmented into:
Voice Portals, Service Providers, Enterprise, and Contact Center:
with each market analyzed and forecasted
The report "Speech
Recognition: Listen to the Market Explode" (#VA0101SR)
analyzes the technology and its future, segments the potential markets
and forecasts their potential, and provides profiles, market shares,
and forecasts. The market for speech recognition software is forecast
throughout 2005, and market shares of leading vendors are also included.
To purchase this report or for more information please contact Courtney
McEuen at 480.609.4533; cmceuen@instat.com.
The report price is $ 3,495 USD.
Cahners In-Stat Group (http://www.instat.com)
covers the full spectrum of digital communications research from
vendor to end-user, providing the analysis and perspective that
allows technology vendors and service providers worldwide to make
more informed business decisions.
For more information,
contact:
Brian Strachman,
Senior Analyst - Voice Applications
Phone: 480.483.4454
Email: bstrachman@instat.com
Kirsten Skedd,
Marketing Manager
Phone: 480.609.4534
Email: kskedd@instat.com
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