Automated Speech Recognition Applications Market Despite increased adoption of speech recognition applications, it still has has immense opportunities to tap. London, UK, December 11, 2010 -- Estimates show that only about 15-20 percent of the market potential has been used so far. With speech recognition increasingly replacing several manual processes, it is expected to see exponential growth at various enterprise levels. Improving accuracy and adaptability of speech recogn ition applications will also serve as a contributing factor. North America continues to be the fastest growing region with a market share of close to 70 percent. However this is expected to change with regions such as Eur ope, Middle East and Africa exhibiting potential.
TechNavioâ s analyst says, â Several markets remain untapped, as providing applications i regional languages is a prerequisite in this industry. This will change with em ergence of newer applications targeted at various segments.â According to TechNavio, the overall estimated spend on speech recognition applic ations in 2010 was $613 million. Analysts also predict that the market will be i mpacted by a slight flattening of the enterprise contact segment and high growth in the mobile device segment. TechNavio has published a report on this subject titled â Automated Speech Recognitio n Market 2009-2013â . This report has been prepared based on a study of the global au tomated speech recognition market with a focus on region wise trends. Inputs fro m industry experts, vendors and end-users were used in the analysis. The report includes a market size estimate and forecast, market landscape, vendor landscape , drivers, challenges and trends in this market. For more information please visit: http://www.technavio.com/content/automatic-sp eech-recognition-applications-market-2010-2013 Contact: Ludmila Berkesova TechNavio Third Floor 33 Cavendish Square W1G 0PW London 00044 (0)207 031 096
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