Tuesday, March 13, 2012

Nice new Global Speech Technology article

Global Speech Technology Market to Reach US$31.3 Billion by 2017, According to New Report by Global Industry Analysts, Inc.
San Jose, CA (PRWEB) March 09, 2012
  Starting out as support applications, speech recognition solutions have evolved into core applications penetrating several industries including airlines, banks, medical transcription, warehousing, inventory management, and security brokerages. In the current business scenario speech recognition solutions are tools for service differentiation, and building customer relationships. Moreover, voice recognition is fast becoming a statutory and much demanded security measure for service companies. Speech communication is one of the vital capabilities in a number of military operations including communications, control and command, intelligence, field vehicle operations, and aircraft and ship operations. Consumer applications of the technology range from rudimentary voice-enabled alarm systems, and voice-based dialers on mobile handsets, to vocal stock quote smartphone apps and voice-based email, and to more niche solutions such as interactive entertainment and voice authentication. Text-to-speech (TTS), automatic speech recognition (ASR), and speaker verification (SV) applications represent major growth drivers for the broad software industry.
The industry displayed strong resilience during the recession period, with speech technology increasingly being perceived as a medium to long-term cost saving investment rather than a dispensable capital expenditure. Speech analytics technology, also referred as audio mining, is rapidly transforming into a highly preferred technology for use in call/contact centers, with ASR systems cutting operating costs by half. Deployment of open standards in speech recognition systems for operational exchanges between components such as applications, platforms, engines and telephony infrastructure is becoming vital for the end-user businesses to gain adequately from their investments. The penetration of speech recognition technology in the consumer applications segment is also intensifying, with the focus resting on accuracy, efficiency, and speed of the device.
The proliferation of the Voice over Internet Protocol (VoIP) platform in recent years is fuelling the adoption of speech recognition technology in the enterprise environment. Speech recognition is also a major component in automotive navigation and telematics systems, enabling LBS and GPRS, as well as information tracking and other customized infotainment services. Employment of speech for information search engines and systems is steadily gaining momentum. Medical centers, hospitals, pharmaceutical companies and other healthcare industry participants are adopting self-service speech solutions not only to bring down the operational costs but also to enhance the privacy of their customers. Speech-user interfaces are also being tested as an alternative to keypad and graphical based interfaces, in handheld devices, as well as fax machines, and telephones.

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/03/09/prweb9268220.DTL#ixzz1p0GFWdLU

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