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Automatic Content Recognition (ACR) Market To Increase Valuation With Surging Investments By 2023
Automatic Content Recognition (ACR) Market
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A good example of automatic content recognition is YouTube, where user preferences are recorded, and videos are then recommended based off these preferences to help consumers find other videos they might enjoy. Many services like Netflix and Spotify also use automatic content recognition to recommend content that a specific consumer may like, thus tailoring the entertainment experience to them. A significant increase in the application of automatic content recognition has been recorded in smart TVs which recommend shows and display interactive ads relevant to the viewer based on viewing history. Targetted advertisements in this regard are growing incredibly popular and are a significant driver for the growth of the global automatic content recognition market. ACR also has uses in measuring audience in real time and allows media houses to understand viewing patterns which are then used to tailor shows and other content for a specific audience in mind.
On the downside, automatic content recognition has made consumers wary due to privacy concerns as their data is being used by large companies and may not be fully secure. However, with the advent of artificial intelligence, IoT and big data analytics, the market is on its way toward substantial growth.
Market Segmentation
MRFR's analysis of the entire automatic content recognition market has been segmented on the basis of technology, end-user application, and region. Technology employed in the global ACR market include speech recognition, digital watermarks, and passive fingerprinting. Speech recognition has been recognized as the largest and fastest growing segment in the global market. The cause of its popularity has been identified as being due to the widespread use of voice-controlled interfaces in a number of mobile devices.
End-user applications of ACR have been segmented to include advertising, media & entertainment, gaming, industrial, consumer electronics, education, broadcasting industry, and others. The advertising, media & entertainment segment has the lion's share of the market and is growing at the most significant pace due to high ad expenditure, and the use of the technology toward the same.
Key Players
Audible Magic Corporation, Clarifai Inc., Digimarc Corporation, Enswers, Inc., ACRCloud, Shazam Entertainment Ltd., Arcsoft, Inc., Microsoft Corporation, and Beatgrid Media BV are among the top-level participants in the global automatic content recognition market. Their various growth strategies have been recorded in MRFR's market report.
Latest Industry News
Nielsen has revealed plans to use automatic content recognition to provide advertisers and media houses data regarding cross-platform audiences for video entertainment.
Alphonso has recently introduced Alphonso Local, a TV audience extension and ad analytics software for local broadcast networks.
Viant's newest TV platform with automatic content recognition allows multidevice campaigns based on data collected via third-party software in TVs from leading TV manufacturers
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