In this paper, major speech features used in state-of-the-art technology in speech recognition research are reviewed. Also a brief review of major technological advancements during last few decades and a trend towards development of robust speech recognition system in terms of feature and model adaptation techniques is given. It has been the dream of researchers to develop a machine that recognizes speech and understands natural language like human but the reality is that the performance of the speech recognition system drastically degrades due to various adverse conditions like noise, variability in speaker, channel, device and mismatches in training and testing. This paper may be useful as a tutorial and review on state-of-the-art techniques for feature selection, feature normalization and model adaptation techniques for development of robust speech recognition system.

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