December 22, 2014 -
“SpeechPro has invested heavily in research and development with over 150 specialists, including 30 PhDs, collaborating to create our cutting edge products,” said Alexey Khitrov, President of SpeechPro. “This recognition is an honor and confirmation that our focus on R&D has been a worthwhile endeavor in the innovation-driven world of voice biometrics.”
The Opus Research report, entitled “Voice Biometrics Census: Global Tally of Voice Security and Authentication Implementations”, identified the company as a key player in sector.
Surveying the voice biometrics landscape on a global scale, the study estimated there are now approximately 150 voice biometrics deployments worldwide and that companies and government agencies have enrolled roughly 70 million voice prints. Industry-wide, Opus predicts massive growth in revenue over the next few years.
The report notes: “The industry closed 2013 with over US$165 million in annual revenues, and is poised to exceed US$584 million in annual revenue in three years, representing a hefty 37.2 percent compound annual growth rate. This compares to the 42.7 percent growth we’ve observed between 2012 and 2014.”
According to the study, SpeechPro’s target markets, including financial services, banks, government, healthcare, education, and law enforcement, are increasingly deploying voice biometrics technologies. To help reach these markets, SpeechPro has developed several partnerships with customer engagement solutions providers that have integrated SpeechPro’s VoiceKey and VoiceGrid technologies into their core software solutions. These partnerships indicate that the demand for SpeechPro’s multi-modal biometrics software solutions is on the rise.
“In multi-factor authentication, such as voice plus face recognition as a pre-requisite for secure mobile commerce, SpeechPro was first to come to market with a packaged solution to the multi-factor challenge,” said Dan Miller, Lead Analyst and Founder of Opus Research.
In August, Speech Technology Magazine also named SpeechPro a “Star Performer” at the Speech Industry Awards, which recognizes the most influential speech technology innovators each year.