Felton, 27 November
2019 - Automatic Speech Recognition Market
is expected to observe a high growth on account of increase in advanced
electronic devices usage in the future. One of the major drivers observed in
the market is the increasing voice passwords use by consumers. Text passwords
are difficult to remember and easy to crack. Moreover, text passwords offer
security threats. Therefore, organizations are focusing on adopting biometric
passwords in the form of voice which are easy to remember as well as operate by
population. Over the past decades, the field of automatic speech recognition
was mostly a research topic. As early as 1932, researchers at Bell labs
investigated the science of speech recognition.
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With increase in the amount of fraud, organizations realized
a need for a robust system which could serve the purpose for fraud management.
In this system, a person’s voice is treated as a password for identification
and authentication. The main objective of using automatic speech recognition
application is to fasten the security system with high accuracy. Such an
application eradicates the need of a keyboard. Moreover, these applications
have contributed to increase in accuracy, response time and efficiency which in
turn is expected to drive its demand over the forecast period. Security systems
based on voice are efficient in crowd control.
The need for entering correct passwords with keyboard for
access results in time delays and long queues. Therefore, automatic voice based
security systems are expected to find major applications where crowd control is
required. Lack of supporting I.T infrastructure is hampering overall system
growth as establishment of automatic speech recognition systems requires highly
efficient I.T systems and maintenance. Mindset change is another factor which
is expected to restrain global industry growth in the future.
Some organizations are expected to hesitate in implementing
new technologies and stick with their old systems. Voice recognition consists
of front end and back end techniques. Front end techniques do face a challenge
of accuracy and time delay. Therefore, back end recognition technique is vastly
used owing to its high precision and speed benefits. These applications require
a high amount of accuracy and should be able to handle disturbances or errors
generated by noise. These systems also require high voice sensitivity detecting
low pitch sounds as well.
The automatic speech recognition market is expected to
contribute to the growth of speech analytics as well. Speech analytics,
popularly known as audio mining is used to make meaningful inferences from the
words captured. Study of voice based important business related materials are
expected to give rise to better decision making related to strategy and
operational issues
Global market is segmented on the basis of application
areas. These application segments include fraud management, durable electronic
goods, military services, healthcare and education. The technology finds its
use in banking sectors, military, medical devices and cellular services.
Banks are developing systems which allow transactions
enabled through voice based security authentication. Substantial research is
being done to implement in the field of military to implement voice recognition
systems in high field aircrafts and helicopters. Speech recognition is also
used for education purpose by people with disabilities. Other implementation
includes home appliances, video games, interactive voice response and robotics.
North America followed by Europe accounted for high demand for speech enabled applications.
Such facilities require use of voice recognition technology thereby these
regions formed a larger share in the global speech recognition market.
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