Today, the vocabulary size for language models in large vocabulary speech recognition is typically several hundreds of thousands of words. While this is already sufficient in some applications, the out-of-vocabulary words are still limiting the usability in others. In agglutinative languages the vocabulary for conversational speech should include millions of word forms to cover the spelling variations due to colloquial pronunciations, in addition to the word compounding and inflections. Very large vocabularies are also needed, for example, when the recognition of rare proper names is important.Previously, very large vocabularies have been efficiently modeled in conventional n-gram language models either by splitting words into subword units or by clustering words into classes. While vocabulary size is not as critical anymore in modern speech recognition systems, training time and memory consumption become an issue when state-of-the-art neural network language models are used. In this paper we investigate techniques that address the vocabulary size issue by reducing the effective vocabulary size and by processing large vocabularies more efficiently.The experimental results in conversational Finnish and Estonian speech recognition indicate that properly defined word classes improve recognition accuracy. Subword n-gram models are not better on evaluation data than word n-gram models constructed from a vocabulary that includes all the words in the training corpus. However, when recurrent neural network (RNN) language models are used, their ability to utilize long contexts gives a larger gain to subword-based modeling. Our best results are from RNN language models that are based on statistical morphs. We show that the suitable size for a subword vocabulary depends on the language. Using time delay neural network (TDNN) acoustic models, we were able to achieve new state of the art in Finnish and Estonian conversational speech recognition, 27.1 % word error rate in the Finnish task and 21.9 % in the Estonian task.Index Terms-language modeling, word classes, subword units, artificial neural networks, automatic speech recognition 2329-9290