Nuance Named Speech Recognition Market Share Leader by Frost & Sullivan
MENLO PARK, CA - Nuance (Nasdaq:NUAN) announced that the Company was named the leader in two markets -- the North American speech technologies license market and the North American telephony-based automatic speech recognition technology market -- by industry analyst firm, Frost & Sullivan. The recently released Frost & Sullivan "North American Telephony-Based Speech Technologies Software Markets" report also highlighted the selection of Nuance as the winner of the 2003 Market Engineering Growth Strategy Award. This award highlights Nuance's product direction, sales approach and license revenue growth. Nuance's license revenues grew by 29% in 2002. In addition, the Company announced a range of new products that enable complete speech solutions, and expanded its channel sales model to enable enterprise and telecommunications companies to get to market more quickly with speech. "Since the dawn of the speech technologies market, Nuance has been at the forefront of technology innovation and market leadership," said Elka Popova, Frost & Sullivan industry analyst. "In spite of the tough economic climate over the past couple of years, Nuance has managed to grow and to evolve its business strategy to meet industry challenges. As customers become increasingly aware of the benefits of speech technologies, Nuance is likely to benefit from its tremendous expertise and brand name recognition in this market." "We are excited that Frost & Sullivan has recognized Nuance as a speech technologies market share leader. Nuance's speech solutions deliver real business value to enterprises and telecommunications carriers worldwide," said Chuck Berger, president and CEO of Nuance. "Frost & Sullivan's report provides clear validation of Nuance's strength and success in the market." Frost & Sullivan's Market Engineering Awards are presented to companies that demonstrate the diligence, perseverance and dedication required to develop a successful business plan and excel in the increasingly competitive global marketplace. Frost & Sullivan analyzes specific criteria to determine Market Engineering Award recipients in a variety of regional and global market landscapes.