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Automatic Content Recognition Global Market Report 2024 - By Share, Size, Trends, Industry Growth, Forecast To 2033
Automatic Content Recognition Market
As per the report, the automatic content recognition market size has grown exponentially in recent years. It will grow from $4.3 billion in 2023 to $5.55 billion in 2024 at a compound annual growth rate (CAGR) of 29.1%. The automatic content recognition market size is expected to see exponential growth in the next few years. It will grow to $15.75 billion in 2028 at a compound annual growth rate (CAGR) of 29.8%.
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Driving Forces Of Automatic Content Recognition Market Surging Smart Device Use And Content Streaming Services
The rising use of smart devices and content streaming services is expected to propel the growth of the automatic content recognition market. Smart TVs are essentially televisions with built-in streaming apps, that can stream content (video, music, movies, and sports) using a streaming device or app by connecting the TV or home theatre to the internet. Smart devices have transformed the way we consume and interact with content streaming services, making it easier and more enjoyable for users to access their favorite movies, TV shows, and music from the comfort of their homes. For instance, in June 2022, counterpoint a US-based technology research company published an article in the economic times stating that the Indian smart tv market raised to 33% in Q1 2022. Currently, 89% of India's TV market is made up of smart TVs. Moreover, Amazon stated that the number of monthly active fire TV users worldwide surpassed 50 million users. Therefore, demand for automatic content recognition will rise as the prevalence of the increasing use of smart devices and content streaming services rises.
Advancements In Automatic Content Recognition Technology With Cutting-Edge Speech Recognition System
Technological advancement is a key trend gaining popularity in automatic content recognition. Major companies in the automatic content recognition market are advancing in their new technologies and research and developing the automatic content recognition market. For instance, in August 2021, LumenVox a US-based speech recognition software company launched a new generation of automatic speech recognition (ASR). The unique features of ASR are a transcription engine built with deep machine learning and artificial intelligence (AI), DNN's (Deep Neural Network) end-to-end architecture, and processing skills for speech recognition. The system is more accessible to users since it can grow the language model more quickly and provide new toolsets for adding additional languages and dialects. The development of this innovative technology is another step forward in automatic content recognition.
The automatic content recognition market covered in this report is segmented -
1) By Type: Audio, Video And Image Recognition, Voice And Speech Recognition, Real-Time Content Analytics, Security And Copyright Management
2) By Component: Hardware, Software
3) By Deployment: Cloud, On-Premises
4) By Application: Audience Segmentation And Measurement, Broadcast Monitoring, Advertisement Targeting And Pricing, Content Filtering, Other Applications
5) By Vertical: Media And entertainment, Consumer Electronics, Retail And E-commerce, Education, Automotive
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Major companies operating in the automatic content recognition market report are International Business Machines Corporation, Microsoft Corporation, Google LLC, Digimarc Corporation, Apple Inc., ArcSoft Inc., Nuance Communications Inc., Shazam Entertainment Ltd., Vobile Group Limited, VoiceInteraction SA, Audible Magic Corporation, Civolution, Enswers Inc., Gracenote Inc., Mufin GmbH, Beatgrid Media BV, Clarifai Inc., DataScouting, iPharro Media GmbH, Kantar Media SA, MediaMelon Inc., Nexidia Inc., Nuxeo SA, OpenText Corporation, Veritone Inc., Viscovery Pte Ltd., VoiceBase Inc., Vualto Ltd., Yospace Technologies Ltd., Zappware NV, ZEFR Inc., ZOO Digital Group plc
Contents of the report:
1. Executive Summary
2. Automatic Content Recognition Market Report Structure
3. Automatic Content Recognition Market Trends And Strategies
4. Automatic Content Recognition Market - Macro Economic Scenario
5. Automatic Content Recognition Market Size And Growth
…..
27. Automatic Content Recognition Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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