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Research and Markets: Global Automatic Speech Recognition Market 2014-2018: LumenVox, Nuance Comms, and Sensory Inc Dominate the Market

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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.

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"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.

The key vendors dominating this market space are:

  • LumenVox LLC
  • Nuance Communications
  • Sensory Inc.

Other vendors mentioned in the report are:

  • AT&T Corp.
  • Dolby Fusion Speech
  • Microsoft Tellme
  • Raytheon BBN Technologies
  • Telisma S.A/On Mobile Global Ltd.

For more information visit http://www.researchandmarkets.com/research/9kwnl8/global_automatic.

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Sector: Computing and Technology

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