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Automatic Content Recognition Global Market Report 2024 To 2033 | International Business Machines Corporation, Microsoft Corporation, Google LLC
Automatic Content Recognition Market
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According to The Business Research Company's, 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 growth in the historic period can be attributed to increased demand for personalized content, upsurge in the popularity of digital platforms, proliferation of digital content across various platforms, growth in the use of second-screen applications, rising adoption of smart tvs and connected devices.
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%. The growth in the forecast period can be attributed to expansion of the streaming services market, rising focus on content monetization and targeted advertising, increased adoption of acr in the automotive industry, increasing need for real-time content recognition, rising adoption of smart devices. Major trends in the forecast period include development of cross-platform acr solutions, use of deep learning and neural networks in acr technology, implementation of acr for live and real-time content recognition, integration of acr in social media platforms, emphasis on data privacy and security in acr applications.
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Market Drivers and Trends:
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.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
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
Automatic Content Recognition Market 2024 Key Insights:
• 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%.
• Driving Forces Of Automatic Content Recognition Market Surging Smart Device Use And Content Streaming Services
• Advancements In Automatic Content Recognition Technology With Cutting-Edge Speech Recognition System
• Asia-Pacific was the largest region in the automatic content recognition market in 2023 and is expected to be the fastest-growing region in the forecast period
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