This report analyzes the worldwide markets for Speech Technology in US$ Million by the following Product Segments: Automatic Speech Recognition, Text-to-Speech, and Speaker Verification. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, and Rest of World. Annual estimates and forecasts are provided for the period 2009 through 2017. Also, a six-year historic analysis is provided for these markets. The report profiles 212 companies including many key and niche players such as Acapela Group, Applied Voice & Speech Technologies, Inc., Convergys Corp., Genesta Partnership,  Genesys Telecommunications Laboratories, Inc., HomeSeer Technologies, LLC, IBM Voice Systems, Intel Corporation, Microsoft Speech Technologies, Novauris, LLC, Nuance Communications, Inc., Sensory, Inc., Speech + Mobility, SpeechFX, Inc., Syntellect, Inc., Telephonetics VIP Ltd., Telisma, Vocollect,Inc., 24/7, Inc., Voxware, Inc., and Wizzard Software Corporation. Market data and analytics are derived from primary and secondary research. Company profiles are primarily based upon search engine sources in the public domain.

TABLE OF CONTENTS

SPEECH TECHNOLOGY 								MCP-1414
A GLOBAL STRATEGIC BUSINESS REPORT	



                                            CONTENTS


  I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS
      Study Reliability and Reporting Limitations                       I-1
      Disclaimers                                                       I-2
      Data Interpretation & Reporting Level                             I-3
       Quantitative Techniques & Analytics                              I-3
      Product Definitions and Scope of Study                            I-3
       Automatic Speech Recognition                                     I-3
       Text-to-Speech                                                   I-4
       Speaker Verification                                             I-4

 II. EXECUTIVE SUMMARY

  1. INDUSTRY OVERVIEW                                                  II-1
      Progress of Speech Technology                                     II-1
       Emergence of Standards Contributes to the Automated Speech
        Recognition Market                                              II-2
        Value Chain of Voice Business                                   II-2
       Factors Leading to Increase in Adoption of Speech Technology     II-3
        Table 1: Cost Comparison of Customer Calls Handled by A
        Single Call Service Agent and a Speech Enabled IVR System:
        Breakdown of Number of Calls, Call Cost per Year & Average
        Call Cost                                                       II-3

        Table 2: Payback Period Analysis for a 72-Port
        Speech-Enabled IVR System                                       II-3
       Current Market Scenario                                          II-3
        Market for Speech Technology Remains Buoyant Despite Recession  II-3
        A Closer Look at Growth Factors in a Recessionary Climate       II-4
        Rising Preference of Advanced Hosted Speech Services Over
         Premise-based Infrastructure                                   II-5
      Outlook                                                           II-5
      Speech Recognition Systems: A Prelude                             II-5
       Applications                                                     II-6
       Fast Paced Adoption of SR Systems at Contact Centers Drives
        Growth                                                          II-7
      Biometric Technologies Industry                                   II-7
       What is Biometrics?                                              II-7
       Advantages of Biometrics Technology                              II-8
       Types of Technologies                                            II-8
        Table 3: World Market for Biometrics (2010): Percentage
        Breakdown of Dollar Sales by Product Segment/Technology
        (includes corresponding Graph/Chart)                            II-9

        Table 4: World Market for Biometrics (2010): Percentage
        Breakdown of Dollar Sales by Geographic Markets (includes
        corresponding Graph/Chart)                                      II-9
        Biometrics Offers Lucrative Opportunities for Voice
         Recognition Systems                                            II-10
        Increasing Security Threats Drive Voice Verification
         Biometrics Market                                              II-10
      Developments in Speech Technology                                 II-10
       Speech Technology and Telecommunications                         II-10
       Mobile Phones: The Next Frontier for Speech Recognition Systems  II-11
        Embedded Speech - Pros and Cons                                 II-11
        Network-based Speech Recognition Solutions                      II-12
       Speech Technology for Mobile Internet Applications               II-12
       Use of Speech Technology in Next Generation Networks             II-12
       Speech and Language Technology in Military Applications          II-13
        Key Technologies                                                II-13
         Speech Processing                                              II-13
         Language Processing                                            II-14
       Speech Technology in Directory Assistance                        II-14
       Influence of Speech Technology on Economic Development           II-14
       Speech Technology Deployment to Address Illiteracy               II-15
       Speech Technology In Call Centers                                II-15
        Table 5: World Market for Interactive Voice Response (IVR)
        Systems by Geographic Region - Percentage Breakdown of
        Revenues for US, Canada, Europe and Rest of World for the
        Year 2010 (includes corresponding Graph/Chart)                  II-16

        Table 6: North American Market for Interactive Voice
        Recognition (IVR) Systems (2007): Percentage Share Breakdown
        of Revenues by Technology                                       II-16
       Speech Technology in Other Applications                          II-16
      Speech Technology Industry - Competitive Landscape                II-17
      A Review of Competition in Key Sectors                            II-17
        Speech Engine                                                   II-17
        Analytics                                                       II-17
        Self-Service Suite                                              II-17
        Speech Security                                                 II-18
        Professional Services                                           II-18
      Key Market Trends                                                 II-18
       Penetration of Speech Recognition Technology Intensifies         II-18
       Rapid Growth in VoIP Driving Speech Recognition Technology       II-19
       Telematics & Car Infotainment: A Boon for the SR Technology
        Market                                                          II-19
       Speech-based Searching Gaining Pace                              II-20
       Speech-Enabled Self-Service Solutions Have Healthcare
        Providers Up by the Ears                                        II-20
       Audio Mining for Searching Online Audio and Video Content        II-21
      Growing Popularity of SR Triggers Innovations in Voice-
       Interface Devices                                                II-21
       Speech Recognition-enabled Self-Service Technology Growing
        Significantly                                                   II-22
       Speech Analytics Gaining Wide Acceptance                         II-22
        Speech Analytics - A Rapidly Growing Technology in Call Centers II-22
       SALT Vs VoiceXML                                                 II-23
       Open Standards: A Key Architectural Requisite                    II-24
       Speech Technology: Usable Interface for Small Handheld Devices   II-24
        Natural Language Understanding                                  II-25
        Applications                                                    II-25

  2. PRODUCT OVERVIEW                                                   II-27
      History of Speech Technology                                      II-27
      Landmarks in the Advancement of Speech Recognition Technology     II-28
      Speech Technology                                                 II-28
       Advantages of Speech Technology                                  II-28
        Cost Savings                                                    II-28
        Improvement in Call Completion Rates                            II-29
        Delivery of Value-Added Content to Users                        II-29
        Higher Customer Satisfaction                                    II-29
        Reduction in Agent Turnover Rate                                II-29
       Other Speech Technology Advantages - In Brief                    II-29
       Ideal Functions and Operations for Speech Technology             II-30
       Applications of Speech Technology in Various Industries          II-31
        Speech Technology Gaining Importance in Automotive Industry     II-31
       Growing Adoption of SR Technology in “In-Vehicle Systems”        II-32
       Demographic Trends & Findings                                    II-33
       Technology Challenges to Reckon With                             II-33
        Increasing Use of Speech Recognition in Banking Industry        II-33
        Speech Recognition in the SOHO Market                           II-34
        Connected Media: Use of Speech Recognition                      II-34
        Application of Speech Technology in the Healthcare Industry     II-35
       Radiology Department & Point-of-Care: Potentially Strong
        Application Areas                                               II-36
        Speech Recognition in Electronic Medical Records (EMR) - On
         a Resurgence Path                                              II-36
        Integration of Speech Technology in Warehouse Management        II-37
        How Speech Technology Operates in the Distribution Center       II-37
        Advantages of Speech Technology in the Distribution Center      II-38
      Automatic Speech Recognition                                      II-38
      Definition and Scope of Speech Recognition Technology             II-39
       Process Description of Speech Recognition                        II-40
      Large Vocabulary Continuous Speech Recognition Systems            II-42
      Profitability of Speech Recognition Technology                    II-42
       Speech-Recognition - Potential Applications                      II-43
       Types of Automatic Speech Recognition                            II-43
        Discrete Word Recognition                                       II-43
        Continuous Word Recognition                                     II-44
        Word Spotting                                                   II-44
        Phoneme Recognition                                             II-44
        Natural Language - Grammar Based Recognition                    II-44
      Advantages and Disadvantages of Speech Recognition Software       II-45
      Shift of Speech Recognition to Hardware                           II-46
      Prospective Speech Recognition Applications                       II-46
       Document Editing                                                 II-46
       Data Entry                                                       II-47
       Edutainment and Games                                            II-47
       Principal Applications of Speech Recognition Technology by
        Sector                                                          II-47
      Different Varieties of Speech Recognition Technology Solutions    II-48
       Speaker-Independent Technology                                   II-48
       Speaker-Dependent Technology                                     II-48
       Isolated Speech Recognition Systems                              II-49
       Connected Speech Recognition Systems                             II-49
       Continuous Speech Recognition Systems                            II-49
      Speaker Verification Technologies                                 II-49
       Methods of Speaker Verification                                  II-50
        Text-Dependent Speaker Verification Methods                     II-50
         Hidden Markov Modeling (HMW)                                   II-50
         Dynamic Time Warping (DTW)                                     II-50
        Text-Independent Speaker Verification Methods                   II-50
         VQ-Based Method                                                II-50
         Multivariate Auto-Regression (MAR)                             II-51
         Average-Spectrum-Based Method                                  II-51
       Drawbacks of Speaker Verification System                         II-51
      Text-to-Speech or Speech Synthesis                                II-51
      Process Description of Speech Synthesis                           II-51
       Visual Text-to-Speech                                            II-52
      Prospective Text-to-Speech Applications                           II-52
       Edutainment and Games                                            II-53
      Digitized Voice Against Text-to-Speech Technology                 II-53
      Distributed Speech Recognition System                             II-53
      Distributed Speech Recognition Services                           II-55
      Speech-based Logistic Systems                                     II-55
      Natural Language Speech Recognition                               II-55
       Design, Development, and Implementation of NLSR Applications     II-56
        Preliminary Collection of Data                                  II-56
        Transcription of Data                                           II-56
        Describing Key Reasons for Customer Calls                       II-56
        Tagging                                                         II-56
        System Training                                                 II-56
        Implementation                                                  II-57
      Wireless Application Protocol                                     II-57
      Voice Over Internet Protocol                                      II-57
      ASR/NL Vs Interactive Voice Response                              II-57
      Voice Portal                                                      II-58
       Providers of Voice Portals                                       II-59
        Start-up Voice Portal Companies                                 II-59
        Web Portals                                                     II-59
        Providers of Network Services                                   II-59
       Speech Technology in Voice Portals                               II-60
        Automatic Speech Recognition                                    II-60
        Text-to-Speech                                                  II-60
        VoiceXML                                                        II-60
        Latest Tools                                                    II-61
      Interactive Voice Response                                        II-61
       Phonetic Speech Recognition                                      II-62
       Integration of Speech Recognition in IVR Systems                 II-62
       Attributes of Advanced Speech Solutions for IVRs                 II-63
       Advantages of IVR for Customer Service                           II-64
       Advantages of IVR for Management                                 II-64
      VoiceXML                                                          II-64
       VoiceXML Vs IVR                                                  II-65
       World Wide Web Consortium’s Proposed Recommendation is
        VoiceXML 2.0                                                    II-67
       VoiceXML 2.0                                                     II-67
      Speech Application Language Tags                                  II-68
      V-Commerce                                                        II-68
      Voice/Data Convergence                                            II-69
      Emotion Recognition                                               II-69
      Assistive Technology                                              II-70
       Screen Readers                                                   II-70
       Speech Recognition Software                                      II-70
       Talking Web Browsers                                             II-70
       Types of Assistive Technology Products                           II-70
      Voice Browsers                                                    II-71
      Centrex                                                           II-72
      IP Centrex = Packet + Centrex                                     II-72
       Advantages of IP Centrex                                         II-72
      Customer Gateway                                                  II-73
      Signaling Gateway Market                                          II-73
      LAN Phones and IP Phones                                          II-74
      Firmphones and Softphones                                         II-74
      Voice Activated Dialing                                           II-74
      Intelligent Voice Operating System                                II-75
      Enhanced Call Routing                                             II-75
      Softswitches                                                      II-76
       Softswitches Allow IP/Voice Services                             II-76

  3. PRODUCT & TECHNOLOGY INNOVATIONS/INTRODUCTIONS                     II-77
      Microsoft Research Unveils Innovative CD-DNN-HMM Model            II-77
      Nexidia Unveils Enterprise Speech Intelligence Version 9.0 II
       -77 Voxeo Releases VoiceObjects 11 Solution                      II-77
      Wavelink Corp Rolls out Avalance Version 5.2                      II-77
      Microsoft to Launch Xbox Kinect with Speech Recognition           II-78
      Microsoft to Release Windows Phone 7 Mango OS                     II-78
      Loquendo Introduces Loquendo Text to Speech                       II-78
      Loquendo Introduces TTS Speech Engine in Arabic                   II-78
      Creaceed Introduces iOS4 Speech Recognition SDK                   II-79
      Samsung Plans to Introduce E60 e-reader                           II-79
      IBM Unveils VOCA Service                                          II-79
      Nuance to Launch Medical Mobile Solutions for Health Care
       Industry                                                         II-79
      Promptu Systems Rolls Out ShoutOUT Speech Recognition             II-80
      nVoq Unveils SayIt                                                II-80
      Holly Connects Unveils Holly5™ 5.1 Version                        II-81
      Bighand Introduces Server-based Speech Recognition module         II-81
      Loquendo Introduces Speech Recognition Technology in Danish
       and Finnish                                                      II-82
      Loquendo Launches Voice Analysis Run-Time Server                  II-82
      Wizzard Software Introduces New Version of AT& T Natural Voices   II-82
      Ericsson unveils AMR Wideband for Telephony Networks              II-82
      ETRI Introduces a New Functionality for  Speech Recognition       II-82
      American Airlines Announces Enhancement of ‘Remember Me'          II-82
      Nexidia Introduces AudioFinder 2.0                                II-83
      Verint Rolls Out Impact 360® Speech Analytics Solutions           II-83
      Vodafone Turkey Launches Voice Portal Platform                    II-83
      AppTek Offers Enhanced PlainSpeech Solutions                      II-84
      SpinVox Extends Voice Message Conversion System in Latin America  II-84
      SpinVox Launches 3 New Open Application Programming Interface
       Language Versions                                                II-84
      Envision Telephony Rolls Out InteractionIQ                        II-85
      Yap Releases New Software Development Kit                         II-85
      Auralog Unveils New Updated TELL ME MORE® v9 Version              II-85
      Fonix Speech Introduces VoiceSync 1.0 Software                    II-86
      Nexidia Introduces ESI-Monitor and Agent Assist for Contact
       Centers                                                          II-86
      Nuance Communications Launches Version 8 of Dictaphone
       Enterprise Speech System                                         II-86
      Aurix Introduces Gopher-it™                                       II-87
      Sakhr Software Introduces Arabic Language Buddy for iPhone        II-87
      Vlingo Introduces Mobile Voice Recognition Service via Ovi Store  II-87
      Fonix Speech Licenses Fonix VoiceIn 4.2 Software to Autodesk      II-87
      Fonix Speech Unveils Voice Sync 1.0 Speech Recognition Software   II-88
      Google India Introduces mobile application for Nokia              II-88
      VoiceCorp Unveils webReader                                       II-88
      Etisalat Introduces Voice Activated Directory                     II-89
      Japplis Rolls Out Japplis Speech 1.0                              II-89
      Vianix Launches SPART                                             II-89
      Vocollect Rools Out SRX Wireless Headset on WORKABOUT PRO
       SPEECH Mobile Computer from Psion                                II-89
      Sensory Launches BlueGenie Voice Interface                        II-90
      Fonix Speech Introduces Fonix VoiceIn® 5.0 Tool-kit               II-90
      Vlingo Unveils Voice-powered Interface for BlackBerry Smartphones II-90
      Wizzard Software Unveils IBM ViaVoice 10.6                        II-90
      Natural Speech Communication Releases SnippTags                   II-91
      LumenVox Speech Engine Completes Compliance with VoIP
       Application Platform                                             II-91
      Dolbey Introduces Voice2TextTM                                    II-91
      Vlingo Unveils Voice Recognition on Yahoo! oneSearch              II-91
      Rosetta Stone Launches Version 3 Personal Edition of Rosetta
       Stone Irish                                                      II-92
      Fonix Speech Unveils Fonix Speech VoiceIn Technology              II-92
      Fonix Speech Introduces FonixTalk TTS 6.0 Software Technology     II-92
      Nuance Communications Launches Improved Navigon 8110              II-92
      Bangor University Introduces Speech Recognition Technology        II-92
      ASC to Unveil INSPIRATIONpro 8.0                                  II-93
      NAVIGON and RadioShack Launches Navigators                        II-93
      Wavelink® Introduces Wavelink SpeakeasyTM SDK                     II-93
      Etisalat Introduces IBSAR Text-to-Speech Software                 II-93
      Paetec Holding Launches Hosted Broadcast Notification Service     II-94
      Nextar Unveils 14-BC Personal Navigation Device                   II-94
      Serotek Introduces Keys for K-12                                  II-94
      Textic Launches Talklets                                          II-94
      Callbright Unveils Lead ChaserTM                                  II-94
      Sorenson Communications Introduces SIPRelay Mobile                II-95
      Clarion Launches ClarionMiND                                      II-95
      SpinVox®, Mutare Software and Avaya Launches Speech to Text       II-95
      OKI Electric Industry Rolls Out Flexvoice(SM)                     II-95
      MedQuist Introduces SPEECHQ for RadiologyTM                       II-96
      Nuance Communication Launches VSuite® 3                           II-96
      MacSpeech Introduces Enhanced MacSpeech Dictate Version           II-96
      Cyberhand Technologies International to Launch MiniTalk1          II-96
      LatticeBridge to Introduce Local-Vocal Service                    II-97
      RadiSys® to Introduce Integrated Technologies for Convedia®       II-97
      Wind River Systems Announces Plans to Launch Linux Platform
       for Infotainment                                                 II-97
      Nuance Communications Introduces Voicemail to Text                II-98
      Revolabs Introduces xTagTM a Comprehensive Solution               II-98
      SDC Solutions Launches IntelliSPEECH® 6.0                         II-98
      Speak2Me Unveils Interactive Advertising Platform                 II-98
      Wizzard Launches AT&T Natural Voices Text-to-Speech 4.2           II-99
      Dialog GSM Introduces IVR Automatic Speech  Recognition           II-99
      SVOX Launches Polyglot Text-to-Speech                             II-99
      Acapela to Introduce Text-to-Speech Engine for iPhone             II-99
      OnviSource Unveils OnviCord Explora                               II-99
      Nuance Communications Launches Dragon Medical 10                  II-100
      Promptu Systems Rolls Out Voice Dictation System                  II-100
      Dial Directions Unveils ‘Say Where'                               II-100
      Openstream Introduces Cue-me                                      II-100
      Oki Electric Industry Rolls Out Polluxstar®                       II-101
      Nuance Communications Introduces Nine Indian Languages for
       Speech Recognition                                               II-101
      BlueAnt Wireless Unveils Supertooth 3 Bluetooth® Handsfree        II-101
      Audiopoint to Introduce Voice Terminal Service                    II-102
      CSR Enhances BlueCore5-Multimedia Platform                        II-102
      iSOFT's RadCentre Introduces Speech Recognition Software          II-103
      Envox Rolls Out Envox 7.1                                         II-103
      Nuance Communications Launches Dragon® NaturallySpeaking® 10      II-103
      Navigon Unveils Navigon 2100 Max and 2120 Max PNDs                II-104
      IgeaCare Systems Introduces ConversationPRO(TM) for Microsoft
       Dynamics CRM 4.0                                                 II-104
      NextUp.com Introduces Novel Acapela Voices                        II-104
      Active Voice Unveils VideoMail Version 1.1                        II-105
      Fonix Speech Unveils FonixTalkTM 6.1 TTS                          II-105
      Convergys Unveils Interaction Composer and Intervoice® Voice
       Portal 6.0                                                       II-106
      NSC Launches MSS to Provide Navigation and Search Capabilities
       for Enterprise Market Applications                               II-106
      NSC Introduces Video Search Service for EVTV1 Website             II-107
      Novauris Introduces NovaSearch® CompactTM to Embedded and
       Hand-Held Devices                                                II-107
      K-NFB Reading Technology Introduces Reader Mobile Product Line    II-107
      Intervoice Unveils Intervoice Voice Portal 5                      II-108
      Nuance Introduces SmartListenerTM Software  Technology            II-109
      Nuance Communications Unveils Nuance Mobile Speech Platform 2
       .5 for BREW Developers                                           II-109
      Nuance Communications Launches Novel version of Dictaphone
       PowerScribe 5.0 for Radiology Reporting Solution                 II-109
      Nuance Communications launches Enterprise Express® Speech
       SystemTM                                                         II-110
      Sensory Introduces BlueGenie LiteTM Speech Output Solution        II-110
      Telisma and Nusuara Launch teliSpeech in Malay  and Thai          II-111
      Voxify Develops Interactive Outbound Flight voice Check-in
       Solution with Continental Airlines                               II-111
      Wizzard Software Unveils AT&T Natural Voices Text to Speech
       Version 4.2                                                      II-111
      Telephonetics VIP Launches Beta Version of Remind+                II-112

  4. RECENT INDUSTRY ACTIVITY                                           II-113
      24/7 Inc Acquires Voxify, Inc                                     II-113
      24/7 Enters Into Partnership Deal with Microsoft                  II-113
      Intermec Acquires Vocollect                                       II-113
      Fonix Corporation to Spin-off SpeechFX                            II-113
      Netcall Acquires Telephonetics PLC                                II-114
      Aumtech Enters into Partnership with Digium                       II-114
      ROK Enters into Partnership with Spoken  Communications           II-114
      SpinVox Acquired by Nuance                                        II-115
      West Interactive Snaps Up TuVox                                   II-115
      AudioCodes to Acquire NSC                                         II-116
      AVST Takes Over Active Voice                                      II-116
      Nuance Communications Snaps up MacSpeech                          II-116
      AVST Inks Letter of Intent with Voice Mobility International      II-116
      Warburg Pincus Plans to Purchase a Stake in Nuance Communications II-117
      Telephonetics Enters into Agreement with Freedom                  II-117
      MedQuist and HealthTrust Purchasing Sign Medical Transcription
       Agreement                                                        II-117
      Raytheon Acquires BBN Technologies                                II-118
      Nuance Purchases Portions of Speech Recognition Technology
       Code of IBM                                                      II-118
      TDI Integrates RealSpeakTM into Liberation® Platform Version
       7.0.6                                                            II-118
      MModal's AnyModal CDS Selected by Scribe                          II-119
      cPAQ Taxi Despatch System Incorporates Loquendo Speech Technology II-119
      Air France Expands Use of Speech Recognition Technology           II-119
      Supercanal and TDN Deploy WinCAPS Subtitling Technology           II-119
      Cincinnati Bell's Voice2Text Service to be Powered by Yap         II-119
      BMW 2010 Models to Feature Nuance's Solutions                     II-120
      Becker and Mercedes-Benz Deploy Nuance Speech Technology          II-120
      SVOX Takes Over Siemens' Professional Speech Processing Group     II-120
      Nuance Communications and IBM Sign Agreement                      II-120
      ASC to Form New Subsidiary                                        II-121
      Textic Acquired by ROK                                            II-121
      IVO, RNIB Release Text-to-Speech Technology for Visually Impaired II-121
      Nuance, IBM in Joint Initiative Agreement                         II-122
      Nuance Acquires Jott Networks                                     II-122
      Dial Directions Acquired by Sakhr Software                        II-122
      Spoken Communications Acquires Voicemail Services from GotVoice   II-123
      Nuance Communications to Establish R&D Center                     II-123
      Digium(R) Enters into Partnership with Vestec                     II-123
      AT&T to Partner with Vlingo                                       II-124
      Loquendo and Avaya Expand Partnership                             II-124
      O2 UK Inks Agreement with Telmap                                  II-124
      Neurostar Solutions to Enter into Partnership  with M*Modal       II-125
      ConvoCast and blinkx to Enter into Alliance                       II-125
      YES Bank, Cisco to Enter into Partnership                         II-125
      MediVoice and VisionTree Enter into Partnership                   II-125
      SVOX to Enter into Alliance with Microsoft                        II-126
      Safari Telecom Enters into Alliance with Dr. Reddy's Laboratories II-126
      GE Healthcare IT signs Agreement with M*Modal                     II-126
      Transolutions and M*Modal Sign Agreement                          II-126
      Innovectra Enters into Partnership with Audiopoint                II-127
      Message Technologies Signs Agreement  with USA 800                II-127
      Telesoft Technologies Enters into Partnership  with Telisma       II-127
      Call Genie and Spoken Communications  Sign Agreement              II-127
      IGEL Technology Enters into Partnership with Philips Speech
       Recognition Systems                                              II-128
      Digium® and Cepstral Enter into Alliance                          II-128
      Wavelink® Enters into Partnership with Vangard Voice Systems      II-128
      Voxpilot and Cepstral Enter into Partnership                      II-128
      Gale Signs Agreement with VoiceCorp                               II-128
      Caplay Invests in Textic                                          II-128
      LXE Inks Agreement with MCL Technologies                          II-129
      TravellingWave and Zi Sign Non-Exclusive Integration Agreement    II-129
      eServGlobal Enters into Partnership with SpinVox®                 II-129
      Lion Share Capital to Purchase stake in Advanced Voice
       Recognition Systems                                              II-129
      Royal Philips Electronics Inks Global Licensing Agreement with
       Microsoft                                                        II-130
      Gold Systems Collaborates with Tellme                             II-130
      PSL Management and Software Technology and Bilingual Software
       Jointly Develop Easy Document Management System                  II-130
      SVOX Collaborates with Microsoft                                  II-130
      West Interactive Partners PerSay                                  II-131
      SunGard Selects IBM's Websphere Voice Server and Speaker
       Verification                                                     II-131
      China Merchant Bank Chooses PerSay's Freespeech                   II-131
      Tata Sky and Ubona Technologies Enter into  a Partnership         II-131
      VoxMedia Consulting and Tellme Enter into an Alliance             II-131
      MedQuist Selects Clario's zVision Software                        II-132
      Intermec Technologies Selects CTG Logistic Solutions' CTGTALKTM   II-132
      Alelo and Voice of America Sign Contract                          II-132
      InteGreat and Nuance Communications Announce Partnership
       Extension                                                        II-132
      Nokia Signs a Deal with Nuance                                    II-132
      Yap Selects Caringo's Content Storage Software                    II-133
      Wipro and Harman International Industries Jointly Set Up a
       Technology Centre                                                II-133
      General Motors Selects In-Car Voice Dialing System of LumenVox
       and Redmond Software                                             II-133
      Telephonetics VIP Partners ONI                                    II-133
      Eckoh and Ideal Shopping Direct Enter into a Contract             II-134
      Digium Partners Metaphor Solutions                                II-134
      Active Voice Collaborates with Digium and LumenVox to
       Introduce Active Voice SPEAK                                     II-134
      Nuance Communication Inks Reseller Agreement with Amirsys to
       Address Requirements of Radiologists                             II-134
      Nuance Acquires eScription                                        II-135
      Avaya Selects Nuance Communications to Improve Collaboration
       and Productivity Options of its Unified Communications           II-135
      MacSpeech Inks Agreement with Nuance Communications to Provide
       Mac Users with State-of-the-Art Speech Recognition Solution      II-135
      Severn Trent Water Selects Syntellect to Supply Automated
       Telephone Services                                               II-136
      Telisma Enters into Collaboration with NuSuara to Co-Develop
       Speech Recognition Solutions                                     II-136
      Holly Connects Enters into Partnership with telisma               II-136
      Telisma Enters into Partnership with PerSay to Supply
       Comprehensive Voice Solutions                                    II-137
      Voxify Assists Genesys to Provide Critical Speech Applications
       for the ‘Intelligent Customer Front Door' Solution               II-137
      Telephonetics VIP Signs Multi-Year Deal with Kingston
       Communications to Supply Co-location and Network
        Infrastructure                                                  II-137
      Siemens Enterprise Communications Extends Partnership with
       Telephonetics VIP to Introduce Voice Automation Solution         II-138
      Telephonetics VIP Bags Contract for Contact Center Solution
       with NHS Lothian                                                 II-138
      Enghouse Systems Takes Over Envox Worldwide                       II-139
      Nuance Communications Buys Philips Speech Recognition Systems     II-139
      Convergys Buys Intervoice                                         II-140
      OnMobile Takes Over Telisma                                       II-140
      Syntellect Buys Fluency Voice Technology                          II-141
      CatchWord Enters into Alliance with Telisma                       II-141
      Nuance Communications and Nokia Sign Agreement                    II-142
      Digium® Enters into Partnership with I6NET Solutions and
       Technologies                                                     II-142
      Acapela Group and ScanDis Enter into Agreement                    II-142
      Samoyed Energy Signs LoI with Advanced Voice Recognition Systems  II-143

  5. FOCUS ON SELECT GLOBAL PLAYERS                                     II-144
      Acapela Group (France)                                            II-144
      Applied Voice & Speech Technologies, Inc. (USA)                   II-144
      Convergys Corp. (USA)                                             II-144
      Genesta Partnership (USA)                                         II-145
      Genesys Telecommunications Laboratories, Inc. (USA)               II-145
      HomeSeer Technologies, LLC (USA)                                  II-145
      IBM Voice Systems (USA)                                           II-145
      Intel Corporation (USA)                                           II-146
      Microsoft Speech Technologies (USA)                               II-146
      Novauris, LLC (USA)                                               II-146
      Nuance Communications, Inc. (USA)                                 II-146
      Sensory, Inc. (USA)                                               II-147
      Speech + Mobility (USA)                                           II-147
      SpeechFX, Inc. (USA)                                              II-147
      Syntellect, Inc (USA)                                             II-148
      Telephonetics VIP Ltd. (The United Kingdom)                       II-148
      Telisma (France)                                                  II-148
      Vocollect, Inc. (USA)                                             II-148
      24/7, Inc. (USA)                                                  II-149
      Voxware, Inc. (USA)                                               II-149
      Wizzard Software Corporation (USA)                                II-149

  6. GLOBAL MARKET PERSPECTIVE                                          II-150

      Table 7: World Recent Past, Current & Future Analysis for
       Speech Technology by Geographic Region - US, Canada, Japan,
        Europe, and Rest of World Markets Independently Analyzed
         with Annual Sales Figures in US$ Million for Years 2009
          through 2017 (includes corresponding Graph/Chart)             II-150

      Table 8: World Historic Review for Speech Technology by
       Geographic Region - US, Canada, Japan, Europe, and Rest of
        World Markets Independently Analyzed with  Annual Sales
         Figures in US$ Million for Years 2003 through 2008 (
          includes corresponding Graph/Chart)                           II-151

      Table 9: World 15-Year Perspective for Speech Technology by
       Geographic Region - Percentage Breakdown of Dollar Sales for
        US, Canada, Japan, Europe and Rest of World Markets for
         Years 2003, 2011 & 2017 (includes corresponding Graph/
          Chart)                                                        II-152

      Speech Technology Market by Product Segment                       II-153
      Table 10: World Recent Past, Current & Future Analysis for
      Automatic Speech Recognition by Geographic Region - US,
      Canada, Japan, Europe, and Rest of World Markets Independently
      Analyzed with Annual Sales Figures in US$ Million for Years
      2009 through 2017 (includes corresponding Graph/Chart)            II-153

      Table 11: World Historic Review for Automatic Speech
      Recognition by Geographic Region - US, Canada, Japan, Europe,
      and Rest of World Markets Independently Analyzed with Annual
      Sales Figures in US$ Million for Years 2003 through 2008
      (includes corresponding Graph/Chart)                              II-154

      Table 12: World 15-Year Perspective for Automatic Speech
      Recognition by Geographic Region - Percentage Breakdown of
      Dollar Sales for US,  Canada, Japan, Europe and Rest of World
      Markets  for Years 2003, 2011 & 2017 (includes  corresponding
      Graph/Chart)                                                      II-155

      Table 13: World Recent Past, Current & Future Analysis for
      Text-to-Speech by Geographic Region - US,  Canada, Japan,
      Europe, and Rest of World Markets Independently Analyzed with
      Annual Sales Figures in US$ Million for Years 2009 through
      2017  (includes corresponding Graph/Chart)                        II-156

      Table 14: World Historic Review for Text-to-Speech by
      Geographic Region - US, Canada, Japan, Europe, and Rest of
      World Markets Independently Analyzed  with Annual Sales
      Figures in US$ Million for  Years 2003 through 2008 (includes
      corresponding  Graph/Chart)                                       II-157

      Table 15: World 15-Year Perspective for Text-to-Speech by
      Geographic Region - Percentage Breakdown of Dollar Sales for
      US, Canada, Japan, Europe and Rest of World Markets for Years
      2003, 2011 & 2017 (includes corresponding Graph/Chart)            II-158

      Table 16: World Recent Past, Current & Future Analysis for
      Speaker Verification by Geographic Region - US, Canada, Japan,
      Europe, and Rest of World Markets Independently Analyzed with
      Annual Sales Figures in US$ Million for Years 2009 through
      2017 (includes corresponding Graph/Chart)                         II-159

      Table 17: World Historic Review for Speaker Verification  by
      Geographic Region - US, Canada, Japan, Europe, and Rest of
      World Markets Independently Analyzed with Annual Sales Figures
      in US$ Million for Years 2003 through 2008 (includes
      corresponding Graph/Chart)                                        II-160

      Table 18: World 15-Year Perspective for Speaker Verification
      by Geographic Region - Percentage Breakdown of Dollar Sales
      for US, Canada, Japan, Europe and Rest of World Markets for
      Years 2003, 2011 & 2017 (includes corresponding Graph/Chart)      II-161


 III. MARKET

  1. THE UNITED STATES                                                  III-1
      A.Market Analysis                                                 III-1
        Speech Technology Market                                        III-1
         Table 19: US Speech Technology Market (2007): Percentage
         Breakdown by Application-Call Centers, Directory,
         Communications, Business Process, Transactions, and Others
         (includes  corresponding Graph/Chart)                          III-1
        Growing Adoption of Speech Recognition Systems Among
         American Doctors                                               III-2
        Speech Recognition Technology Making Way into Air Traffic
         Control                                                        III-2
        Other Statistical Findings:                                     III-3
         Table 20: US Market for Interactive Voice Response  (IVR)
         Systems by End-Use Sector (2010) - Percentage Breakdown of
         Revenues for Banking/ Finance, Telecom, Insurance,
         Travel/Hospitality, Healthcare and Other Markets (includes
         corresponding Graph/Chart)                                     III-3

         Table 21: US Market for Interactive Voice Response (IVR)
         Systems (2010): Percentage Share Breakdown  of Revenues by
         Product Segment (includes corresponding Graph/Chart)           III-3
      B.Market Analytics                                                III-4
        Table 22: US Recent Past, Current & Future Analysis for
        Speech Technology by Product Segment - Automatic Speech
        Recognition, Text-to-Speech, and Speaker Verification
        Markets Independently Analyzed with Annual Sales Figures in
        US$ Million for  Years 2009 through 2017 (includes
        corresponding Graph/Chart)                                      III-4

        Table 23: US Historic Review for Speech Technology by
        Product Segment - Automatic Speech Recognition,
        Text-to-Speech, and Speaker Verification Markets
        Independently Analyzed with Annual Sales  Figures in US$
        Million for Years 2003 through 2008 (includes corresponding
        Graph/Chart)                                                    III-5
        Table 24: US 15-Year Perspective for Speech Technology by
         Product Segment - Percentage Breakdown of Dollar Sales for
          Automatic Speech Recognition, Text-to-Speech, and Speaker
           Verification Markets for Years 2003, 2011 & 2017 (
            includes corresponding Graph/Chart)                         III-6

  2. CANADA                                                             III-7
      A.Market Analysis                                                 III-7
        Speech Technology Market                                        III-7
        Consumer Trends                                                 III-7
        Emergence of VoiceTIMES                                         III-8
      B.Market Analytics                                                III-9
        Table 25: Canadian Recent Past, Current & Future Analysis
        for Speech Technology by Product Segment - Automatic Speech
        Recognition, Text-to-Speech, and Speaker Verification
        Markets Independently Analyzed with Annual Sales Figures in
        US$ Million for Years 2009 through 2017 (includes
        corresponding Graph/Chart)                                      III-9

        Table 26: Canadian Historic Review for Speech Technology by
        Product Segment - Automatic Speech Recognition,
        Text-to-Speech, and Speaker Verification Markets
        Independently Analyzed with Annual Sales Figures in US$
        Million for Years 2003 through 2008 (includes corresponding
        Graph/Chart)                                                    III-10
        Table 27: Canadian 15-Year Perspective for Speech Technology
         by Product Segment - Percentage Breakdown of Dollar Sales
          for Automatic Speech Recognition, Text-to-Speech, and
           Speaker Verification Markets for Years 2003, 2011 & 2017
            (includes corresponding Graph/Chart)                        III-11

  3. JAPAN                                                              III-12
       Market Analysis                                                  III-12
        Table 28: Japanese Recent Past, Current & Future Analysis
        for Speech Technology by Product Segment - Automatic Speech
        Recognition, Text-to-Speech and Speaker Verification Markets
        Independently Analyzed with Annual Sales Figures in US$
        Million for Years 2009 through 2017 (includes corresponding
        Graph/Chart)                                                    III-12

        Table 29: Japanese Historic Review for Speech Technology by
        Product Segment - Automatic Speech Recognition,
        Text-to-Speech, and Speaker Verification Markets
        Independently Analyzed with Annual Sales Figures in US$
        Million for Years 2003 through 2008 (includes corresponding
        Graph/Chart)                                                    III-13
        Table 30: Japanese 15-Year Perspective for Speech Technology
         by Product Segment - Percentage Breakdown of Dollar Sales
          for Automatic Speech Recognition, Text-to-Speech and
           Speaker Verification Markets for Years 2003, 2011 & 2017
            (includes corresponding Graph/Chart)                        III-14

  4. EUROPE                                                             III-15
      A.Market Analysis                                                 III-15
        Speech Technology Market                                        III-15
      B.Market Analytics                                                III-15
        Table 31: European Recent Past, Current & Future  Analysis
        for Speech Technology by Product Segment - Automatic Speech
        Recognition, Text-to-Speech, and  Speaker Verification
        Markets Independently Analyzed  with Annual Sales Figures in
        US$ Million for  Years 2009 through 2017 (includes
        corresponding Graph/Chart)                                      III-15

        Table 32: European Historic Review for Speech  Technology by
        Product Segment - Automatic Speech Recognition,
        Text-to-Speech, and Speaker Verification Markets
        Independently Analyzed with Annual Sales  Figures in US$
        Million for Years 2003 through 2008 (includes corresponding
        Graph/Chart)                                                    III-16

        Table 33: European 15-Year Perspective for Speech Technology
        by Product Segment - Percentage Breakdown of Dollar Sales
        for Automatic Speech Recognition, Text-to-Speech, and
        Speaker Verification Markets for Years 2003, 2011 & 2017
        (includes corresponding Graph/Chart)                            III-17

  5. REST OF WORLD                                                      III-18
      A.Market Analysis                                                 III-18
        Asia-Pacific Speech Technology Market                           III-18
         India                                                          III-18
         Singapore                                                      III-18
         Korea                                                          III-19
        Key player                                                      III-19
         AudioCodes Ltd (Israel)                                        III-19
      B.Market Analytics                                                III-20
        Table 34: Rest of World Recent Past, Current & Future
        Analysis Market for Speech Technology by Product Segment -
        Automatic Speech Recognition, Text-to-Speech, and Speaker
        Verification Markets Independently Analyzed with Annual
        Sales Figures in US$ Million for Years 2009 through 2017
        (includes corresponding Graph/Chart)                            III-20

        Table 35: Rest of World Historic Review for Speech
        Technology by Product Segment - Automatic Speech
        Recognition, Text-to-Speech, and Speaker Verification
        Markets Independently Analyzed with Annual Sales Figures in
        US$ Million for Years 2003 through 2008 (includes
        corresponding Graph/Chart)                                      III-21

        Table 36: Rest of World 15-Year Perspective for  Speech
        Technology by Product Segment - Percentage Breakdown of
        Dollar Sales for Automatic Speech Recognition,
        Text-to-Speech, and Speaker Verification Markets for Years
        2003, 2011 & 2017 (includes corresponding Graph/Chart)          III-22


 IV. COMPETITIVE LANDSCAPE

     Total Companies Profiled: 212 (including Divisions/Subsidiaries - 225)

     ------------------------------------------
     Region/Country                     Players
     ------------------------------------------
     The United States                    140
     Canada                                13
     Japan                                  2
     Europe                                50
      France                                3
      Germany                              12
      The United Kingdom                   16
      Italy                                 1
      Spain                                 1
      Rest of Europe                       17
     Asia-Pacific (Excluding Japan)        15
     Middle-East                            5
     ------------------------------------------