Research and Markets: Global Automatic Speech Recognition Market 2014-2018: LumenVox, Nuance Comms, and Sensory Inc Dominate the Market
Ideas get bigger when you share them...
DUBLIN - March 19, 2014 (www.investorideas.com newswire) Research and Markets has announced the addition of the "Global Automatic Speech Recognition Market 2014-2018: LumenVox, Nuance Comms, and Sensory Inc Dominate the Market" report to their offering.
"Global Automatic Speech Recognition Market 2014-2018: LumenVox, Nuance Comms, and Sensory Inc Dominate the Market"
One of the major trends being witnessed in the market is the increasing usage of voice passwords. Normal passwords are easy to remember and crack, thereby increasing security threats. Therefore, organizations are increasingly adopting biometric passwords in which symbols are replaced by the voice of the person. The voice of the person becomes the password and provides identification and authentication. In addition, voice passwords cannot be replicated and will help companies improve customer service by enabling them to support the enrolment and authentication of clients. ASR applications are basically used for customized user authentication when multiple end-users are present or multiple people use the same product such as for secure interactions on mobile phones and electronic devices in vehicles and homes.
According to the report, one of the major drivers in this market is the increasing demand for speech-based biometrics for identification purposes. The Biometrics segment is witnessing high demand for speech recognition applications because of the growing instances of fraud. Hence, the vendors in this segment are developing cost-effective and easy-to-deploy ASR applications that help in fraud management.
Further, the report states that one of the major challenges in this market is the lack of accuracy in speech recognition systems. Speech recognition applications are highly sensitive to ambient noises, which reduces accuracy levels. Although the Speech Recognition industry has witnessed several technological advancements, the issue of high sensitivity to sound remains a barrier to the adoption of ASR applications.
Published at the Investorideas.com Newswire - Big ideas for Global Investors
Disclaimer/ Disclosure:The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and Linkedintoday plus hundreds of syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp
BC Residents and Investor Disclaimer : Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.