Frost & Sullivan Names SpeechWorks Market Share Leader in Automated Speech Recognition Software.Business/Technology Editors BOSTON--(BUSINESS WIRE)--March 7, 2002 Industry Research Firm Names SpeechWorks as Winner of Frost & Sullivan Business Development Strategy Award SpeechWorks International, Inc. (Nasdaq: SPWX SPWX Speechworks (stock symbol) ), the global leader in speech recognition and text-to-speech (TTS (1) See text-to-speech. (2) (Transaction Tracking System) Software that monitors a transaction until completion. In the event of a hardware or software failure, it ensures that the database is brought back to its former state before the attempt to ) technologies and services, today announced industry research firm Frost & Sullivan singled out the company as the clear market share leader in automated speech recognition software in a newly issued study. Frost & Sullivan also selected SpeechWorks for its Market Engineering Award for Business Development Strategy. In a comprehensive study of the speech technology market, Frost & Sullivan designated SpeechWorks the leader in automated speech recognition with a 36.4 percent share in 2001, as compared to Nuance at 29.8 percent and IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) at 15.2 percent. Overall, the report projects a significant increase in total market revenue over the next five years. "While 2001 could be characterized as a year that did not deliver as promised for most speech vendors, SpeechWorks was a clear exception," said Ronald Gruia, program leader for enterprise communications solutions at Frost & Sullivan. "SpeechWorks had a great year in 2001, increasing its overall revenue by 49 percent - an amazing result in a down market." In selecting SpeechWorks for its Business Development Strategy award, Frost & Sullivan attributed several factors to SpeechWorks' success, including registering a number of important, new customer wins over the last year, such as Amtrak Amtrak, the National Railroad Passenger Corp., authorized to operate virtually all intercity passenger railroad routes in the United States. Amtrak was created by Congress in 1970 in response to more than two decades of continuous operating deficits by privately run , GMAC GMAC General Motors Acceptance Corporation GMAC Graduate Management Admission Council GMAC Give Me A Call GMAC Genetic Manipulation Advisory Committee GMAC Genetic Modification Advisory Committee (Singapore) GMAC Give Me A Chance Commercial Mortgage, National Weather Service and Union Pacific Railroad Union Pacific Railroad, transportation company chartered (1862) by Congress to build part of the nation's first transcontinental railroad line. Under terms of the Pacific Railroads Act, the Union Pacific was authorized to build a line westward from Omaha, Nebr. . Frost & Sullivan also noted the strength of the company's deep speech product portfolio and business partnerships. Additionally, SpeechWorks was recognized for its leadership in advancing technology standards through the VXML See VoiceXML. Forum and the SALT Forum. "This award recognizes that through a combination of vision, technology and successful marketing, SpeechWorks has demonstrated superior market growth skills. SpeechWorks has consistently shown its ability to anticipate market needs, develop innovative new products and identify new market segments to expand its customer base," said Gruia. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Steve Chambers, vice president of worldwide marketing at SpeechWorks, "This recognition from Frost & Sullivan is clear-cut validation of SpeechWorks' market leadership. We are focused on building on this strong position by keeping our customer in mind to provide continuous technology innovation and maximum return on investment across global markets." About SpeechWorks International, Inc. Through the power of SpeechWorks technologies, the human voice is all a person needs to access instant information and conduct transactions from a phone or device. Around the world, customer service innovators such as America Online See AOL. , E-Plus and United Airlines are realizing returns on SpeechWorks applications that consistently delight and serve customers 24 hours a day. With over 160 partners, SpeechWorks (Nasdaq: SPWX) delivers natural language speech recognition, speaker verification and text-to-speech (TTS) solutions to leading corporations, telecommunications providers, device manufacturers and government organizations worldwide. For a description of our products, services and unique customer programs such as SpeechWorks Here(TM) S.T.E.P. (Speech Technology Evaluation Process) call 617.428.4444 or visit www.speechworks.com. SpeechWorks and SpeechWorks Here are trademarks or registered trademarks of SpeechWorks International, Inc. in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and other countries. All other trademarks are the property of their respective owners. |
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