January 18, 2011 11:08 ET

Voice Recognition Market to Grow 8.8% Annually Through 2015

ROCKVILLE, MD--(Marketwire - January 18, 2011) - has announced the addition of BCC Research's new report "2010 Information Technology Research Review" to their collection of E-Commerce & IT Outsourcing market reports. For more information, visit

The term "Information Technology" covers such a wide-ranging spectrum of activity it is perhaps misleading to over generalize. Yet we can say that in 2010 the importance of key technologies became ever more vital -- in particular those of search, and voice recognition. They form the backbone for several emerging industries, many of which are touched upon in our report coverage, directly or indirectly.

Noteworthy is the connection to our industrial categories, including advanced materials and semiconductor manufacturing. Their alliance with information technology adds value well in excess of the sum of the parts.

Voice recognition technologies are becoming integral parts of products and services that span a much broader array of industries. This global market will grow at a compound annual growth rate (CAGR) of 8.8% between 2010 and 2015. The total market is valued at an estimated $38.4 billion in 2010 and is expected to reach $58.4 in 2015.

The total global market for retail technologies at the storefront, including point-of-sale terminals, electronic fund transfer point-of-sale terminals, self-checkout terminals, and mobile self-scanners, is estimated at nearly $7 billion in 2010 and is expected to reach $9.5 billion in 2015, a compound annual growth rate (CAGR) of 6.3%.

The market for AFIS and fingerprint biometric technologies account for the greatest share of the global biometrics market and is forecast to continue to be the main source of overall market revenues from 2010 to 2015 and beyond. This sector is valued at $2.7 billion in 2010 and is expected to increase at a 19.6% compound annual growth rate (CAGR) to reach nearly $6.6 billion in 2015.

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