Automatic Speech Recognition to Take the Lead Over Existing Speech Technologies by 2005, IDC Says
FRAMINGHAM, MA – DECEMBER 17, 2001 – The worldwide market for telephony speech processing software is expected to grow to over $3.5 billion by 2005, according to IDC. This represents a 2001-2005 compound annual growth rate (CAGR) of 52.1%.
Automatic speech recognition (ASR), one of the three speech technologies, will account for 96.2% of the total 2005 revenue, according to IDC. The conversion of text into speech (TTS), another speech technology, will account for 3.1% of total revenue in 2005, while voice recognition (VR) will account for only 0.7%.
"The robustness of ASR technology has improved to the point where it matches Touch-Tone telephone key pad for interaction," said Steve McClure, vice president for IDC’s Speech and Natural Language Software service. "Limitations do exist, however, since implementation is highly customized and relatively still high cost."
A number of major factors will be responsible for the projected growth of this market, including:
· Basic technology improvements that make them suitable alternates for traditional technologies
· Growth in Internet usage
· Increasing mobility of the workforce
· Regulatory changes
· Desire to improve the services that are provided to callers
· Highly competitive wireless services environment
IDC’s recently published Wordwide Telephony Speech Processing Software Market Forecast and Analysis, 2001-2005 (IDC #25704) presents a five-year revenue forecast of this market, along with an in-depth analysis on key trends, market drivers, and market inhibitors. Profiles of more than 40 providers of base speech processing technology and associated development environments are also included.
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IDC is the foremost global market intelligence and advisory firm helping clients gain insight into technology and ebusiness trends to develop sound business strategies. Using a combination of rigorous primary research, in-depth analysis, and client interaction, IDC forecasts worldwide markets and trends to deliver dependable service and client advice. More than 700 analysts in 43 countries provide global research with local content. IDC's customers comprise the world’s leading IT suppliers, IT organizations, ebusiness companies and the financial community. Additional information can be found at www.idc.com.
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