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Automatic Speech Recognition Market – 2009 -2013 report forecasts that the market will reach $933 million in 2013 growing at 15 percent. Key Market Drivers include: • Success stories of early adopters pushing peer companies that continue to use manual processes • Growing use of biometrics for secure identification purposes • Advancements in speech recognition technologies that have made it more accurate and robust • Clear cost savings across industries with the use of speech recognition applications Despite continuing to grow, this market has not reached the exponential growth predicted by earlier estimates.
This can be attributed to apprehensive customers, unavailability of technology in some regions and high pricing pressure on mobile devices. High R&D expenses have also added to this. For the sake of this report, the automated speech recognition market includes speech recognition applications and products but do not include speech recognition engines. This report contains a detailed market landscape broken down by geography and end user. It also contains comprehensive drivers, challenges, and a vendor landscape in addition to detailed profiles of key vendors.