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Industry Report

Industry reports, briefs issued by Samsung Economic Research Institute

Voice Recognition Technology Spreads

Voice Recognition Technology Spreads

Sept. 5, 2011

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Voice recognition technology has been rising with its application being used in a wide variety of fields. The big three IT companies -- Google, Apple and Microsoft -- have obtained voice recognition technology through firm acquisitions or partnerships and applied the technology to its main products and services.

Increasing application in non-IT industries, including automobile, medical, broadcasting and education, have fueled the growth. Globally, the voice recognition technology market is on a blistering growth track. It tripled between 2005 and 2010, leaping from US$1.1 billion to US$3 billion and is expected to grow by 22% annually and to become a US$5.4 billion market in 2013. As for Korea, voice recognition market is primed for even faster growth than the global pace. It is forecast to expand by 47% annually and its market size would be worth 390 billion won in 2012 from 180 billion won in 2010.

Voice recognition technology began with AT&T Bell Labs’s digit recognition system in 1952. It started as academic research in the beginning but it went into first commercial use as an AT&T directory assistance service. In the early 2000s, it received considerable interest as it was applied to mobile phones and home automation system, but it underperformed, retarding its customer satisfaction rate to the 20% range. Improved network and computing technology eventually raised the accuracy rate of speech recognition to 95%. As product functions became more complicated and diverse, voice recognition technology spread.

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