|[February 01, 2013]
Research and Markets: The Global Voice Recognition Market to Grow At A CAGR Of 22.07 Percent over the Period 2012-2016
DUBLIN --(Business Wire)--
Research and Markets (http://www.researchandmarkets.com/research/fbmmzw/global_voice)
has announced the addition of the "Global
Voice Recognition Market 2012-2016" report to their offering.
One of the key factors contributing to this market growth is the
increasing demand for voice biometrics. The Global Voice Recognition
market has also been witnessing the increasing demand for speech
recognition in mobile devices. However, the inability to suppress
ambient noise could pose a challenge to the growth of this market.
The key vendors dominating this market space are Nuance (News - Alert) Communications
Inc., MModal Inc., and ValidSoft Ltd.
The other vendors mentioned in the report are Agnitio Corp., Advanced
Voice recognition systems Inc., LumenVox LLC, Telisma/On Mobile Globa
Ltd., AT&T (News - Alert) Inc., Raytheon BBN Technologies, Microsoft Tellme, Voxeo
Corp., Speech Technology Center, Voice Trust AG, VoiceVault Inc., Voice
Biometrics Group, and Auraya Systems Pty. Ltd.
Commenting on the report, an analyst from TechNavio's Enterprise
Computing team said: ''The need for stronger verification is leading to
the growing integration of voice authentication into mobile banking. In
regions such as North America and Western Europe, a large number of
banking customers use phone banking facilities. Large numbers of these
financial institutions are adopting voice-based authentication solutions
to accept or reject mobile transactions by a user. In addition,
incorporating voice authentication in mobile devices is cost effective
and at the same time provides stronger security. Hence, the trend of
integrating voice authentication in mobile banking is expected to grow
stronger over the years. Indeed, phone-based banking institutions are
partnering with voice authentication vendors and the incorporation of
voice metrics is becoming a key competitive advantage.''
According to the report, usage of speaker identification technology for
forensic purposes is one of the major drivers of the Global Voice
Recognition market. It undergoes a complex process of determining if the
voice of a crime suspect matches the voice of forensic samples. This
technology enables crime departments to identify criminals with one of
the most unique human characteristics, the voice, thereby offering a
relatively high level of accuracy. Forensic experts match the voice of
suspects with samples until they find the criminal. Recently this
technology has been utilized to help solve several criminal cases.
For more information visit http://www.researchandmarkets.com/research/fbmmzw/global_voice
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