SpeechWorks Named Market Share Leader in ASR Software by Frost & Sullivan
BOSTON, MA - SpeechWorks International, Inc. (Nasdaq: SPWX), a global provider of speech recognition and text-to-speech (TTS) technologies and services, announced industry research firm Frost & Sullivan singled out the company as the 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. "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 F. 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, GMAC Commercial Mortgage, National Weather Service and Union Pacific Railroad. 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 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 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." Information for this story was gathered from SpeechWorks.