The Business of Speech Recognition Technology

Any kind of technological innovation generally needs a little time to evolve. Speech recognition technology is one area that has been steeped for some time. Whereas the technology was very flawed, devices are now packed with efficiency and widely available.

Mobile Speech Recognition Technology

Vlingo is a new application servicing mobile phone carriers and software companies looking to give consumers the power to communicate with ease. The Vlingo employs speech recognition technology that allows you to speak naturally, opposed to being limited to predefined phrases. Not only is the application designed to adapt to the user's voice, but also perform web searches and find specific locations. This feature is currently in the beta phase in the United States with Sprint and AT&T. Consumers with mobile phones from these carriers can download the app on vlingo.com.

Vlingo, co-founded by Mike Phillips and colleague John Nguyen, was created in 2006. The two innovative entrepreneurs were interested in speech recognition technology because they believed cellular networks had evolved to a point where voice navigation systems could be enabled on mobile phones. The creators of Vlingo are now locked in the race for a share of the speech recognition technology market.

Speech Recognition Technology via Texting

Based in North Carolina, Yap is another star- up company looking to make its name off speech recognition technology. Similar to Vlingo, their service is currently in the beta stage. Co-founders Igor and Victor Jablokov were inspired to start the company when noticing their teenage sister in a car text-messaging. While she wasn't driving at the time, cellular companies have revealed that two-thirds of their teenage subscribers have either read or sent text messages while driving. Igor Jablokov states that the speech recognition technology in their Yap application would not only make mobile communications much easier, but safer as well.

Powerful Dragon Voice Recognition

Understandably, larger companies are also interested in speech recognition technology. In late August, Nuance, most known for its popular Dragon NaturallySpeaking franchise, started the Voice Control system. The system is currently in use at Rogers Communications and Sprint, available for download with 66 handset models with more compatible versions on the way.

Microsoft Stepping into Speech Recognition Technology

With its recent purchase of TellMe Networks, Microsoft is looking to get more involved with speech recognition technology as well. TellMe is a speech-driven application currently available for Sprint and AT&T subscribers, allowing them to search for information on the web. This system is also integrated into Helio's new Mysto mobile phone.

In 2007, speech recognition technology brought the market $1.6 billion, according to figures gathered by Opus Research. Opus analyst Dan Miller predicts a 14.5% annual growth rate in the next three years, stating that companies who have licensed products for speech recognition technology are more likely to see revenue growth faster than others. Considering a product lineup consisting of billions of phones, cell phone providers have the most potential, even though they are still working out the kinks for such services.

As you can see, speech recognition technology means big business for small and large companies alike. Igor Jablokov of Yap expressed that he wants the company's application to receive support strictly from advertising. However, he states that the carriers in which they are negotiating with have intentions on charging consumers for the service.