Businesses Say `Yes' to Voice Interface Technology
SAN ANTONIO--(BUSINESS WIRE)--April 3, 2000--The future of speech technology is brightening.
Not only has the technology improved greatly with advancements in natural language understanding, accuracy and quality of voice, but now a number of end-user businesses are in a position to take advantage of voice interface technologies since they are no longer dealing with Y2K issues.
According to U.S Telephony-Based Speech Technology Software Markets, new research by Frost & Sullivan (www.frost.com), the telephony-based speech technology software market saw revenues of $94.9 million in 1999, and it is expected to total $709.7 million by 2006.
For years telephony-based speech technology vendors have been seeking ways to capture the interest of end users. To accomplish this goal, these firms have made great strides in developing speech recognition, speaker verification and text-to-speech technologies. After wrapping up their Y2K endeavors, their budgets are once again available for new technologies that can help them reduce costs, improve customer satisfaction and most importantly, help generate revenues.
Although end-user companies are in a position to take advantage of speech technology software, many of these firms are slow to act because they have not been informed of the impact this software can have on their businesses.
"The market is still impeded by the lack of awareness of new applications such as unified messaging, voice portals and voice-activated dialing," says Frost & Sullivan CPE Industry Business Manager Alpa Shah. "The market is expected to grow as end users gain a better understanding of the benefits of speech technology software as well as the strides the industry has made in terms of accuracy and natural language recognition.
Frost & Sullivan presents 1999 Marketing Engineering Awards to companies that have worked hard to make a positive contribution to the telecom Customers Premise Equipment (CPE) and software industry. The 1999 Market Engineering Business Development Strategy Award is presented to Nuance Communications. The 1999 Market Engineering Global Marketing Strategy is given to Philips Speech Processing (NYSE: PHG), while the 1999 Market Engineering Marketing Strategy Leadership Award goes to SpeechWorks International. Lernout & Hauspie (Nasdaq: LHSP) were presented the 1999 Market Engineering Product Innovation Award.
Companies that participated within this industry are: Aspect Telecommunications; AT&T Labs; Black Ice Software; Compaq Computer Corporation; Dragon Systems Inc.; ELAN Informatique; Eloquent Technology Inc.; Entropic Research Laboratory Inc.; First Byte Inc.; Fonix Corporation; IBM; Interactive Products; ITT Industries Inc.; Keyware Technologies; Lernout & Hauspie Speech Products USA Inc.; Locus Dialogue; Lucent Speech Solutions; Nortel Networks Inc.; Nuance Communications; Parity Software Development; Parlance Corporation; Philips Speech Processing; Phonetic Systems; SpeechWorks; Texas Instruments; T-Netix Inc.; Unisys Corporation; Veritel Corporation; Vocalis Limited; VoiceID Systems and Veramark Technologies.
Related companies are: IDT Corp.; General Magic Inc.; Motorola; Webley Systems; Wildfire Communications; Premier Technologies; AccessLine; GTE Internet Working and Registry Magic.
Frost & Sullivan, which is headquartered in Mountain View, Calif., is a global leader in international marketing consulting and training. Frost & Sullivan monitors the telecom CPE equipment and software industry for market trends, market measurements and strategies. This ongoing research is used to complement the IP Telephony Equipment & Services Custom Subscription. Free executive summaries of both reports are available to the press.
Along with publishing in-depth market consulting reports, Frost & Sullivan also provides custom consulting needs to variety of national and international companies.
U.S. Telephony-Based Speech Technology Software Markets
Report: 2107-62 Date: April 2000 Price: $4,450
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Contact:
Frost & Sullivan, San Antonio
Ryan Joel Canales, 210/247-2401
rcanales@frost.com
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