Automatic Content Recognition Market worth $4.9 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, May 10, 2022 /PRNewswire/ -- According to a research report "Automatic Content Recognition Market with Covid-19 Impact Analysis, By Component, Content, Technology, Applications (Broadcast Monitoring and AD Targeting & Pricing), Deployment Mode, Organization Size, Vertical and Region - Global Forecast to 2027", published by MarketsandMarkets™, the Automatic Content Recognition Market is estimated to grow from USD 2.3 billion in 2022 to USD 4.9 billion by 2027, at a CAGR of 16.8% during the forecast period. The Automatic Content Recognition Market is expected to grow at a rapid pace due to the evolution of new technologies, and adoption and scaling of digital initiatives.
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Automatic content recognition (ACR) is a system that uses a content database to recognize and identify video and audio content that a user is actively engaged with. It's a technology found in cable television (CTV) and over-the-top (OTT) video streaming services. It refers to the ability to recognize and identify streaming content, down to individual objects in a video, by sampling its components and comparing them to database records. ACR-enabled devices (mostly smartphones and smart TVs) assist marketers in analyzing content consumption patterns by comparing digital fingerprints contained in video to provide viewing insights. For instance, ACR technology can determine whether a given ad was played on a specific device during a specific time period.
The evolution of digital technologies, such as cloud computing, big data and analytics, mobility/social media, blockchain, artificial intelligence (AI), Internet of Things (IoT), robotics, and cybersecurity, has created the need for digitalization across several industries. These technologies are used by enterprises to improve or add more features to their traditional business processes while also helping enhance customer relationships.
The audio & video fingerprinting technology to hold the largest market share during the forecast period
Among technologies, the audio & video fingerprinting is estimated to hold the largest market size during the forecast period. Automatic content recognition with machine learning aids in the transformation of knowledge into expertise and the extraction of relevant patterns from massive amounts of data. The audio & video fingerprinting technology is the more preferred automatic content recognition technology over watermarking in the current scenario due to its various advantages, such as ease of application, better security and accuracy, and cost-effectiveness.
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Consumer electronics vertical to have the largest market size during the forecast period
Based on vertical, the Consumer electronics segment is expected to have the largest market size during the forecast period, Automatic content recognition are gaining acceptance among all verticals to improve profitability and reduceoverall costs. Automatic content recognition technology enables clients to identify and monetarize user TV viewing behavior of consumers. According to Consumer Electronics Association, it is observed that eight in ten-second screen (smartphones, laptops) consumers use an alternate device while watching TV programming. Automatic content recognition-enabled TVs are synched with smartphones and tablets, it gathers data about users and the show they are watching.
Large Enterprises segment to have larger market size during the forecast period
Among the organization size, the large enterprises are projected to dominate the market, while the SMEs segment is projected to record a higher growth rate during the forecast period. The adoption of Automatic content recognition and services among large enterprises is high as large enterprises use automatic content recognition solutions for specific use cases. Increased competition among large-scale content providers to track digital experiences for a large audience is driving the adoption of automatic content recognition in large enterprises. As all the departments are generating a significant amount of data, automatic content recognition solutions help large enterprises combine the data and create useful insights using advanced data analytics. Large enterprises are leveraging automatic content recognition platforms coming from various sources; for instance, in social media feeds or sensors and cameras, each record needs to be processed in a way that preserves its relation to other data and sequence in time.
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Asia Pacific to hold higher CAGR during the forecast period
The Automatic Content Recognition Market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to grow at a good pace during the forecast period. The region is advancing, as it is having a lot of new entrepreneur setups, which would be looking forward to grab new customers and gaining customer trust by involving new paradigms of advanced analytics to have a competitive advantage over the established players. China, Japan, and India have displayed better growth opportunities in the Automatic Content Recognition Market.
The major vendors in the global Automatic Content Recognition Market include IBM (US), Microsoft (US), Google (US), Digimarc (US), Apple (US), Nuance Communications (US), ArcSoft (US), ACRCloud (China), Audible Magic (US), KT Corporation (South Korea), Kudelski Group (Switzerland), Gracenote (US), VoiceInteraction (Portugal), VoiceBase (US), Vobile (US), mufin GMBH (Germany), Beatgrid Media BV (Netherlands), Clarifai (US), DataScouting (Greece), ivitec (Germany), Viscovery Pte Ltd (Taiwan), Zapr Media Labs (India), Valossa (Finland), SenseTime (China), Verbit (US), Megvii (China), and SambaTV (US).
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