Navigating Change....
The PELORUS Group
Market Research and Consulting Services

FOR IMMEDIATE RELEASE

Date:  March 8, 2001
Contact:  Greggory S. Blundell
Phone:  908-707-1121
Fax:  908-707-1135
E-mail:  Info@pelorus-group.com

THE PELORUS GROUP SAYS WIRELESS SPEECH RECOGNITION TO TOP $3 BILLION BY 2005!

Raritan, NJ - Speech recognition technologies have evolved into a dynamic capability that is being woven into telephone networks to create a rich tapestry of enhanced services.  The wireless market is about to reap the benefits of this development as well.  According to a new report from The PELORUS Group entitled “Wireless Speech Recognition:  The Growth Years”, the nascent market formed by the merger of wireless services and speech recognition will soon erupt into a multi-billion dollar juggernaut.

Mark Thompson, Director of Research at The PELORUS Group, observes, “You no longer have to hunch over a tiny keyboard or wade through an endless series of voice prompts.  Instead, using new voice portals, we simply speak commands to locate and listen to a diverse and ever-growing set of information alerts, including the latest news, stock quotes, flight information, traffic reports or weather alerts, plus personalized data and location-based directory assistance information.”

As the number of mobile subscribers reaches 50 percent of the population in the US over the next three years, voice interfaces will enable this large mobile public to communicate, and tap into information, on the fly, more easily, more safely, and more affordably.  The report details not only the growth in mobile demand but also the fact that technologies have finally come of age, overcoming technical hurdles in voice recognition quality, and in creating the necessary VoiceXML computer standard.  As it becomes the accepted standard, VoiceXML will make creating voice portals straightforward, and the human voice in effect emerges as a substitute for a computer mouse or telephone keypad.  Over 100 companies now back the VXML specification.

Mark Thompson explains that, “While nearly 40 percent of US households have Internet access, nearly the same percent, more than 108 million, have mobile phone accounts.  Our forecasts indicate that mobile users will rise above 60 percent of the population by 2005.”  

According to the report, by the end of 2000, wireless Web subscriptions had reached 1.6 million.  Speech-enabled wireless Web subscriptions will increase from 5 percent of the market today, to close to 50 percent by 2005, generating more than $3 billion in revenues at that time.