The mobile phone speech recognition market has come a long way in recent years, and is one of the fastest areas of growth in the mobile phone market.
The sector has been forecast to reach a market value of US$187.6 million by 2018, primarily driven by the need for superior convenience while handling mobile handsets and for reducing mobile phone distractions while performing routine tasks.
Furthermore, a robust growth in smartphone sales across the globe combined with stringent automotive driving laws that prohibit the use of mobile handsets while driving also bode well for the market.
The availability of 3G-enabled mobile devices with fast, always-on Internet connections and the ability to train voice-modelling software with millions of phone users -- a process called crowd sourcing -- is helping fuel a new breed of mobile speech-recognition apps that work quickly and are amazingly accurate.
The rapid proliferation of high-end smartphones, such as, Apple's iPhone 4S/iPhone 5 and Android based phones with robust speech recognition capabilities especially, are revolutionizing the speech recognition application market. The iPhone 4S/iPhone 5 comes equipped with Siri, a voice-activated intelligent personal assistant capable of performing most tasks including sending text messages, voice-dial, scheduling meetings, and finding local businesses through voice commands.
Google's Voice Actions and Translate applications, on the other hand, aim to reduce the existing language barriers through on-the-fly, speech-to-speech translation between 14 languages.
The US currently represents the most prominent region within the mobile phone speech recognition market with annual revenue from the region experiencing a compound annual growth rate (CAGR) of approximately 19.5% through to 2018.
For more information on the mobile phone speech recognition market, see the latest research: Mobile Phone Speech Recognition
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