Automatic Content Recognition Market Highlights:
The capabilities of client applications are being developed significantly in the recent times, due to an increased need of end users to find relevant content online. As a result, automatic content recognition has emerged as an identification technology to recognize content present in a media file or played on media devices. The concept of ACR enables rapid collection of detailed information about the content without any text-based input or search efforts. Thus, helping users deal with multimedia more effectively while making applications more intelligent. The market is anticipated to develop at a CAGR of 27 percent while achieving USD 4,507 million in revenue through the forecast period.
Rapid advances in automation and artificial intelligence have created a substantial impact on the automatic content recognition market. The market for automatic content recognition is motivated by a few main factors such as its improved application in smart TVs, wearables, mobile screens, as well as by entertainment and media companies for broadcast monitoring and audience measurement. Moreover, the increased use of technologies such as fingerprinting or watermarking is backing the market’s growth. The smart TV manufacturers are also using ACR technology to can create adapted watching experiences by providing audiences with content recommendations based on the viewer’s history, this feature is expected to expand the market share significantly over the forecast period.
Moreover, Automatic Content Recognition Market also offers several benefits such as second screen synchronization, content verification, and content identification which are instrumental for escalating the demand in the market in the forecast period. With second screen synchronization, can gain more information and targeted advertising while allowing them to enhance their television viewing with the help of ACR. As automatic content recognition aids in recognizing the content based on sound or images without additional research by users, the market is responding positively to these changes. However, the automatic content recognition market is still considered to be in the nascent stage of expansion. The rapidly growing adoption rates of this technology through several industry verticals is irrefutably creating a plethora of prospects for developers and vendors to develop applications to their maximum potential, thus increasing the potential for development of the market.
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The automatic content recognition market globally is defined by the incidence of many regional, global, and local vendors. The market is extremely competitive with all the players contending to capture market share. Advances in technology, intense competition, and changes in government policies are important factors that are motivating the market’s growth. The vendors compete based on quality, cost, reliability, and aftermarket service. Digimarc Corporation (US), Arcsoft, Inc. (US), Microsoft Corporation (US), Beatgrid Media B.V. (The Netherlands), Audible Magic Corporation (US), Clarifai Inc. (US), Enswers, Inc. (South Korea), ACR Cloud (US) and Shazam
The automatic content recognition market globally is segmented into end-user application, technology, and region. By Technology, the market is segmented into speech recognition, passive fingerprinting, and digital watermarks. The speech recognition segment is dominating the automatic content recognition market in this segment and is also projected to develop at the highest rate during the forecast period. By end-use application, the market is segmented into advertising, industrial, consumer electronics, media & entertainment, gaming, education, broadcasting industry, and others.
The media, advertising, & entertainment segment is controlling the market as reported in 2017 and is also anticipated to develop at the highest rate during the forecast period. By region, the market is segmented into regions such as North America, Europe, Asia-Pacific, and the Rest of the World.
Detailed Regional Analysis:
The regional analysis of the market consists of regions such as North America, Europe, Asia Pacific, and the Rest of the World. The North American region is leading the automatic content recognition market trailed by the European, and Asia Pacific region. The North American region is presently controlling the market for automatic content recognition.
The primary growth in automatic content recognition market in the North American region is accredited to developments in technology and growing adoption of cloud technology and the Internet of Things in the region. The US is the principal country in automatic content recognition market in the region and has produced a revenue worth USD 248.1 million in 2017.
Table of Content
2.1 Definition 14
2.2 Scope of The Study 14
2.3 List of Assumptions 15
2.4 Market Structure 15
List of Table
Table 1 Market Synopsis 12
Table 2 List of Assumptions 15
Table 3 Global Automatic Content Recognition Market, By End-Use Application, 2018–2023 (Usd Million) 36
Table 4 Global Automatic Content Recognition Market, By Region, 2018–2023 (Usd Million) 40
Table 5 North America: Automatic Content Recognition Market, By Country, 2018–2023 (Usd Million) 41
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List of Figures
Figure 1 Global Automatic Content Recognition Market: Market Structure 15
Figure 2 North America Market Size & Market Share By Country (2017 Vs 2023) 17
Figure 3 Europe Market Size & Market Share By Country (2017 Vs 2023) 17
Figure 4 Asia-Pacific & Market Share By Country (2017 Vs 2023) 18
Figure 5 Rest of The World Market Size & Market Share By Country (2017 Vs 2023) 18
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