Speech recognition technologies are today an integral part of an increasing number of products and services across a broader array of industries. Recognizing the importance of the same, Global Industry Analysts, a premier publisher of off-the-shelf market research, recently announced a research report titled "Voice/Speech Recognition Systems: A Global Outlook."

The report offers a bird's eye view of the world voice/speech recognition systems market and the underlying technology and identifies major trends, issues, challenges and growth drivers.

The use of voice/speech recognition technology has transcended from conventional corporate uses, such as automated speech-enabled interactive voice response systems at contact centers to mass-market products, such as, mobile phones, and car navigation systems, among others.

Today the speech commands are used for searching addresses in the mobile phone, accessing public information from the Internet, dictating messages to computers, controlling consumer appliances and converting voice mail into email or text message.

Speech recognition systems are increasingly being deployed by organizations, which intend to differentiate themselves in a crowded business environment, through improved automated customer care.

According to a new report by Global Industry Analysts, Inc, Global Market for Voice/Speech Recognition Systems and Software will reach US$69.4 Billion by 2015.

Over the last few years, proliferation of speech recognition technologies has encouraged mobile phone manufacturers to offer mobile handsets with voice recognition features, such as voice-dialing, speech-enabled GPS navigation, and other voice-powered applications, such as, auto-dictation, and voice search.

As per the report, the market for voice recognition systems and software is projected to witness unfazed developments with players in the space striving to take the technology to higher grounds by improving the ability of these systems to accurately recognize and respond to natural human speech.

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