Automatic Content Recognition Market Size is Projected To Reach USD 4879.5 Million By 2028, at a CAGR of 17.4% - Valuates Reports
BANGALORE, India, July 27, 2022 /PRNewswire/ -- Automatic Content Recognition Market is Segmented by Type - Acoustic & Digital Video Fingerprinting, Digital Audio, Video & Image Watermarking, Optical Character Recognition, Speech Recognition, by Application - Consumer Electronics, E-Commerce, Education, Automotive, IT & Telecommunication, Healthcare, Defense & Public Safety, Avionics, Others. Global Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Business Services Category.
The global Automatic Content Recognition market size is projected to reach USD 4879.5 million by 2028, from USD 1543.8 million in 2021, at a CAGR of 17.4% during 2022-2028.
Major Factors Driving The Growth of The Automatic Content Recognition Market
The rising integration of ACR in smart TVs, mobile phones, and wearables along with increasing deployment by media firms for broadcast monitoring and audience measurement will fuel the growth of the market.
Artificial intelligence, NLP, and machine learning technologies will boost market expansion during the forecast period.
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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL AUTOMATIC CONTENT RECOGNITION MARKET
The demand for customized content is booming. Electronic manufacturing corporations are embedding ACR technology in smart TVs and mobile handsets. It presents viewers with content that is synced with the TV program thereby enabling networks to measure a specific show's audience viewership in real-time. As a result, the Automatic Content Recognition Market is expected to rise in the coming years. It operates by leaving a digital mark on the television screen. The given information can then be used to identify the on-screen content and to sync with other ACR-enabled devices such as tablets, laptops, etc.
Streaming service providers are using ACR technology to track what people watch within their services. This is crucial for measuring viewership, and ad performance, providing targeted ads and personalizing content recommendations. The tracking takes place across any programming and ads played on connected TV platforms including set-up boxes and Blu-ray players. The stored data is used by an advertiser to gauge the overlap of people who saw an ad on traditional TV versus streaming. The amount of time a particular viewer sees a particular campaign in a single week. This aids in building profiles of audiences who are inclined towards watching a specific show. The need for audience data will drive the growth prospects of the Automatic Content Recognition Market. Connecting ACR data determines how many end users purchased the advertised product or visited the advertiser's website.
AI, ML, and NLP technologies are being deployed to analyze an ample amount of data in real-time. Physical segments in the content do not appear at standard time intervals in all programming. This entails a lot of manual effort for broadcasters and content owners. AI-built software sets up content recognition models for identifying physical segments with exact frame accuracy. This will present lucrative opportunities for the Automatic Content Recognition Market. In addition to it, computer vision and convolutional neural networks use automated techniques to recognize color bars, black slates, precaps, recaps, credits, disclaimers, promos, and commercials. Automation eliminates the chance of human errors, shortens turnaround time, and lowers the total cost of operation.
The covid 19 pandemic negatively impacted industries such as media, entertainment, and electronics. Temporary shutdowns hampered the overall production capability. However, the rapid use of consumer goods during the impending lockdown resulted in the positive growth of the market.
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AUTOMATIC CONTENT RECOGNITION MARKET SHARE ANALYSIS
Based on type, the acoustic and digital video fingerprinting segment is expected to dominate in the automatic content recognition market share owing to large scale adoption of ML technologies for faster extraction of data. It is easy to use, accurate, and decreases the cost of operations.
Based on application, the consumer electronics segment will be the most lucrative during the forecast period as electronic companies are increasingly embedding ACR solutions into smart TVs and mobile handsets.
Based on region, North America is expected to account for the largest market share due to rising technological advancements and a well-established media and entertainment industry. Europe is the second largest in terms of market share. While Asia-pacific will grow the fastest due to the expansion of ACR-enabled devices in countries like China, Japan, Australia, and India.
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Market By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Key players
- Arcsoft
- Digimarc
- Microsoft
- Nuance Communications
- ACR Cloud
- Audible Magic
- Civolution (Kantar Media)
- Enswers
- Gracenote
- Mufin
- Shazam Entertainment
- Vobile
- Voiceinteraction
- Beatgrid Media
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