OYSTER BAY, N.Y.-The speech technology market is poised to grow from $677 million in revenues in 2002 to $5.3 billion by 2008, according to new research from Allied Business Intelligence.
According to ABI, the financial services and telecommunications industries are currently leading speech solution implementation, with customer service and retention issues driving the cause.
The report, “Speech Recognition Systems: Market Opportunities and Major Player Assessment,” looks at speech recognition, text-to-speech, and voice authentication technologies, as well as vendors supplying tools, applications, platforms and services. It also examines the competing VoiceXML and SALT standards and questions whether they can co-exist.
