Initially made popular by its use in well-known sound recognition applications, automatic content recognition (ACR) has gained considerable traction in the advertising industry and other applications in the entertainment industry. Market Research Future has recently found that the global ACR market is expected to grow at a healthy CAGR of 27.2% over the period of 2017 to 2023. Rising adoption of emerging technologies and several other factors are expected to contribute to the increasing value of the market which is anticipated to reach USD 4507.2 Mn by the end 2023.
Smart devices are growing exponentially due to increased sales, and the adoption of Smart TVs have led to the demand for ACR. ACR enhances the customer’s entertainment experience by offering information regarding the media being broadcast. Moreover, ACR enables interactive features and offers suggestions for other content based on the consumers recognized preferences. Growing demand for ACR technology in the media industry has resulted in an increase in deployments of the technology, particularly for audience measurement, broadcast monitoring, content identification & enhancement. The ACR market’s growth is negatively impacted by security concerns with regards to data and privacy. However, due to the emergence of IoT, big data analytics, and artificial intelligence, the ACR technology is expected to witness advancements that create room for market expansion in the coming years.
Market Segmentation
MRFR’s analysis of the market includes detailed segmentation on the basis of technology, end-user applications, and region. By technology, the market is segmented into passive fingerprinting, speech recognition, and digital watermarks. The speech recognition segment accounts for the largest segment with the highest CAGR during the forecast period. The growing use of speech recognition in virtual assistants, smart home devices, and others is a key contributor to the segments lead position. Moreover, various businesses and institution have implemented speech recognition technology for automates identification purposes; this is driving substantial growth for the segment.
The global division of the market for analysis includes North America, Latin America, Europe, Asia-Pacific, and The Middle East & Africa.
Recognition of the Regions Potential to Slingshot Growth for APAC
The Asia-Pacific (APAC) automatic content recognition market is growing swiftly and is expected to experience the fastest CAGR over the assessment period. The growing development of smart city initiatives in countries such as India and China has boosted the demand for smart products. Several key players are present in the region, and other international market players have recognized the potential for growth available in the region. As a result, investments in technological advances have grown considerably. These investments move the region forward in terms of market growth and increase the emphasis on technological advancement. Moreover, India and China among others have established the region as an industrial hub, and due to the growing integration of ACR technology in smart devices such as Smart TVs, this represents the availability of a wide scope of opportunity in the future.
Key Players
Market players whose competitive strategies have been recorded in MRFR’s report include Digimarc Corporation, Arcsoft Inc., ACR Cloud, Audible Magic Corporation, Clarifai Inc, Enswers Inc, Beatgrid Media B.V., Shazam Entertainment and Microsoft Corporation.
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Automatic Content Recognition Market: By Solution (Audio, Video and Image Recognition, Voice, Real Time Content Analytics), By Service (Professional, Managed), End User (IT & Telecommunication, Healthcare) – Global Forecast till 2027Market OverviewThe 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.
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 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.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/1208Segmental AnalysisThe automatic content market globally is segmented into end-user application, technology, and region.
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.
