Published: March 23, 2011

Research and Markets: Speech Recognition Applications for Contact Centers Market 2010-2013 - Use of Speech Recognition Applications in Contact Centers on the Increase

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DUBLIN - (BUSINESS WIRE) - Research and Markets (http://www.researchandmarkets.com/research/836773/speech_recognition) has announced the addition of the "Speech Recognition Applications for Contact Centers Market 2010-2013 " report to their offering.

Speech recognition applications have been seeing increased adoption among contact centers after an initial slow start. Proven cost savings and improving customer satisfaction have been driving this technology's adoption. Moreover accuracy has been improving and the cost of implementation has been declining.

With a current market penetration of around 30 percent, this technology has immense potential to grow. As with several new and niche technologies, awareness about the benefits of speech applications has room for improvement. Language barrier is another challenge that speech recognition vendors are working on overcoming.

TechNavio's Speech Recognition Applications for Contact Centers Market 2010-2013 report has been prepared based on an in-depth study of the market along with inputs from various experts. The report contains market and vendor landscape supported by drivers, restraints and trends. It also contains a Porter's five force analysis, usage scenario and an analysis of key vendors in the market.

The report covers speech recognition based applications for contact centers. This does not include speech engine providers.

Speech recognition applications have been finding increased use in contact centers. Despite initial apprehensions, several organizations have implemented this software as a result of significant cost savings and accuracy. While adoption has been growing, there is still a large untapped market for speech recognition applications. The current market penetration for speech enabled applications in contact centers is close to 30 percent. These implementations have enjoyed a high success rate.

Implementation of these applications has also cut down on employee related expenses such as training, salary increments and other overheads. This has been helping in improving overall organizational profitability.

TechNavio's analyst says, during the initial phases, organizations were very apprehensive about replacing human resources with speech recognition tools. However, today contact centers with speech recognition applications have better customer satisfaction in comparison to others.

According to TechNavio the speech recognition applications for contact centers market is expected to grow.

TechNavio has published a report on this subject titled Speech Recognition Applications for Contact Centers Market 2010-2013. This report has been prepared based on a study of the speech recognition applications market with a specific focus on contact centers. Inputs from industry experts, vendors and end-users were used in the analysis. The report includes a market size estimate and forecast, market landscape based on segments along with trends, challenges and drivers.

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