Mobile Speech Applications Market Set To Triple By 2014

Speech recognition software is expected to increase considerably in the next 5 years as today’s world becomes even more fast-paced.

As part of their latest report, independent data analyst Datamonitor has forecasted that the global market for advanced speech recognition (ASR) technology in mobile devices is set to triple to $99.6 million by 2014 from the current $32.7 million and that ASR in-vehicle telematics will also grow to $208.2 million from the current $64.3 million.

Mobile speech applications allow users to voice-control the operation of a device. Speech applications are also widely made use of in voice-based search for voice-dialing and voice input, where a user can vocally upload data. Also, the increasing trend towards restrictions placed on operating mobile devices while driving is expected to contribute to a growth in the speech recognition software market.

Globally, several nations, including 15 states in the U.S., have come forward to enact legislation that restricts the use of handsets while operating vehicles. Most of these legislations permit the use of hands free devices as an alternative and telecom carriers have been promoting command and control and SMS based services to combat theses restrictions.

In-Vehicle Telematics also make use of ASR and text-to-speech technologies, commonly to input addresses, manage music playlists, read out addresses and more. With an increasing number of devices using network based ASRs, recognition rates have also improved.  In addition to this, the popularity of application stores have allowed feasible options to emerge for smaller operators who can now reach out to the market and provide innovative solutions.

Hosted IVR Services Offer Tremendous Growth Potential in Markets Across EMEA According to Frost & Sullivan

"The hosted model makes it easier for enterprises to deploy speech applications, bringing together the best of both worlds – the business benefits of the software as a service (SaaS) model, and improving the customer experience by making IVR's more user-friendly," explains Frost & Sullivan Research Director Ashwin Iyer.New analysis from Frost & Sullivan (, EMEA Hosted IVR Services Markets, predicts this market to be one of the largest and fastest growing markets for contact center technologies in EMEA. [click heading for more]

VoiceXML tipped to become the dominant platform for IVR technology in 2008

VoiceXML, which is the open standard software-based approach in interactive voice response technology, is proliferating at a rapid rate as businesses demand greater flexibility, agility, affordability, scalability and innovation in interactive voice response solutions. Datamonitor research suggests that 2008 will be an inflection point for VoiceXML-based interactive voice response (IVR), with the number of shipped ports utilizing the technology expected to surpass traditional IVR ports for the first time.

The advent of web-based, open-standards like VoiceXML, and other next generation platforms, has opened up new possibilities for personalized phone self-service by simplifying the design, development and management aspects of IVR. Datamonitor predicts that global investment in IVR licenses will increase from $475 million in 2006 to $845 million by 2012 as the business climate becomes accustomed to VoiceXML platforms. By 2009 almost 69% of IVR shipments will be based on VoiceXML.

Mature markets like North America, Europe, the Middle East and Africa are seeing a lot of replacement and upgrade activity. According to Datamonitor, these markets will witness a compound annual growth rate (CAGR) of 6% and 9%, respectively, from 2007-2012. But it is the greenfield opportunities in the emerging markets of Asia Pacific, the Caribbean and Latin America that are growing at the fastest rate, with predicted CAGR of 18% and 14%, respectively, over the same period. [click heading for more]