Speech Recognition (Technology, Market)

Market in Russia

2020: The volume of the conversational AI market in Russia is $44 million ($76 million, including government orders )

The company Just AI, specializing in technologies of spoken artificial intelligence, machine learning and understanding of the natural language, on August 16, 2021 presented its forecasts for the development of the spoken AI market until 2025, compiled based on the results of the study^[1].

Analytics covers the tools and platforms of conversational AI - technologies for speech synthesis and recognition, voice cloning, speech biometrics, voice activation, platforms for understanding and generating natural language, means of visual development of dialogue scripts in voice or text channels, speech analytics platforms, and outbound and casual voice assistant solutions for business, smart device skills, and meta-assistants (Alice, Maroussia, etc.), incoming telephony and smart IVR, the development of custom chat bots.

Source: Just AI

The volume of the Russian market in 2020 amounted to $44 million or $76 million, taking into account government orders. The industry adds 46-93% from year to year, the total growth since 2015 year amounted to 1288%. According to Just AI forecasts, by the end of 2021, the market volume will reach $80 million or $120 million, taking into account government orders. In the next five years, the industry will maintain growth dynamics from 38% to 81% and in 2025 it will reach $561 million (excluding government orders).

Source: Just AI

"More than 100 companies operate in the conversational AI market in Russia, many of them grow by 200-400% per year. They do not always compete with each other: a significant part of the players specialize in individual industries, types of customers and technologies and can dominate their segments, even having a small share in the market as a whole, "said Kirill Petrov, Managing Director of Just AI.

In the revenue structure of the CST group of companies of 1 billion + rubles per year, more than 80% is occupied by income from government contracts. Just AI with a revenue of 500 million + rubles. focuses on the segments NLP (Natural Language Processing )/NLU (Natural Language Understanding )/DM (Dialog Management) -platform, No-code/Low-code voice assistant designers and cash. In the group of companies with revenues of 200 million + rubles. Yandex.Cloud (speech technologies), 3iTech (public sector solutions, speech technologies and speech analytics platforms) and Aero Exchange (public sector solutions, outgoing telephone communications) are presented per year.

The largest segments on the market in 2020 were speech technologies (speech synthesis and recognition, voice cloning, speech biometrics, voice activation) and NLP platforms (natural language processing). Business and NLP platform solutions grew fastest in 2020.

According to Just AI forecasts, in five years half of the entire Russian market will be occupied by conversational AI solutions targeted at certain business tasks and industries, such as voice catalog searches for retail, virtual assistants for housing and communal services, chat bots for hotels. They will add 100-120% annually, medicine, HoReCa, e-commerce, tourism, the beauty industry, etc. are already showing interest in them.

According to analysts, requests for NLP platforms from large businesses will continue to grow for several more years. This will be due to the inclusion of new industries and the expansion of the scope of natural language processing. Visual designers for the development of bots with increasing interest from SMB companies will begin to actively grow and specialize in narrow tasks and the provision of ready-made templates and tools. The growth of the casual assistant segment, customer support solutions, skills for assistants, incoming IVR, recruiting and HR solutions will accelerate along with the advent of new developers and the involvement of new categories of SMB customers, and an additional incentive will be an increase in the assistant and smart column market.

Outgoing telephone communications will continue to grow rapidly until 2022. Further, legal regulation aimed at combating spam and the widespread dissemination of anti-spam technologies should be expected, which will lead to a drop in the market. After adapting to the new restrictions, it will be possible to grow the segment, possibly in new areas and industries, Just AI believes. Speech analytics in the coming years will face moderate growth, which may slow down with the development of NLP technologies and the rejection of contact centers from the staff. Speech technologies are experiencing an increase in consumption, but with the increased availability of models and datasets and the advent of new players and inhouse developments, they will face significant price pressures.

See also

• Physician Speech Recognition
• Speech technology: from recognition to understanding
• Speech synthesis

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• National Biometric Platform (NBP)
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• Biometric identification (global market)
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• A brief history of biometrics
• Biometrics and border control
• Biometric time recording systems

Notes