Market Analysis
The global automatic content recognition market is predicted to touch USD 4,507 million at a whopping 27% CAGR between 2018- 2023, states the recent Market Research Future (MRFR) analysis. Automatic content recognition is an identification technology that is used for identifying and verifying media content elements played on media devices or present in media files. It is extensively used in smart TVs, tablets, and smartphones. Some of the benefits of using this technology include content identification, content verification, and second screen synchronization. Its different technology includes digital watermarks, passive fingerprinting, and speech recognition. Owing to its alluring features and plentiful benefits, automatic content recognition has wide applications in the broadcasting industry, education, gaming, media and entertainment, consumer electronics, industrial, advertising, and others.
Various factors are propelling the global ACR Market share. According to the recent MRFR report, such factors include rapid advancements in artificial intelligence and automation, increasing integration in smart TVs & second screen devices like wearables and smartphones, and growing deployment by media companies for audience measurement and broadcast monitoring, and increased use of technologies like watermarking or fingerprinting.
On the contrary, security and privacy constraints, the need for larger server infrastructure, & additional bandwidth, and the on-going COVID-19 impact are factors that may limit the global automatic content recognition market growth over the forecast period.
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Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global automatic content recognition market based on technology and application.
By technology, the global automatic content recognition market is segmented into digital watermarks, passive fingerprinting, and speech recognition. Of these, the speech recognition segment will lead the market over the forecast period and at a high CAGR.
By application, the global automatic content recognition market is segmented into the broadcasting industry, education, gaming, media and entertainment, consumer electronics, industrial, advertising, and others. Of these, the media and entertainment & advertising segments will dominate the market over the forecast period.
Regional Analysis
Based on the region, the automatic content recognition market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, North America will spearhead the market over the forecast period. Technological developments, increasing adoption of IoT and cloud technology, and developed media and entertainment industry are adding to the global automatic content market growth in the region. The United States holds the utmost share in the market over the forecast period.
The global automatic content recognition market in Europe is predicted to hold the second-largest share over the forecast period. Rising investment in R&D activities, an increasing number of ACR technology-enabled smart devices, and rising technological adoption is adding to the global automatic content recognition market growth in the region.
The global automatic content recognition market in the APAC region is predicted to grow at a fast pace over the forecast period. The growing integration of ACR in media and entertainment, constant technological advances, the presence of economically developing countries like Japan, China, India, and Australia, and the developing media and entertainment industry are adding to the global automatic content recognition market growth in the region.
The global automatic content recognition market in the RoW is predicted to have sound growth over the forecast period.
Key Players
Key contenders profiled in the global automatic content recognition market report include Shazam Entertainment Ltd. (US), Beatgrid Media B.V. (The Netherlands), Enswers, Inc. (South Korea), Clarifai Inc. (US), Audible Magic Corporation (US), ACR Cloud (US), Microsoft Corporation (US), Digimarc Corporation (US), and Arcsoft, Inc. (US). Industry players have incorporated strategies such as mergers, acquisitions, geographic expansions, among others to stay at the forefront.
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Automatic Content Recognition Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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