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Automatic Content Recognition Market Growth Accelerates: Strategic Forecast Predicts $20.89 Billion by 2029
Automatic Content Recognition
What Will the Automatic Content Recognition Industry Market Size Be by 2025?
The market size of automatic content recognition has witnessed significant expansion recently. It is anticipated to expand from $5.45 billion in 2024 to $6.97 billion in 2025, with a compound annual growth rate of 27.9%. The past growth of the market can be traced back to rising demand for tailored content, a surge in the usage of digital platforms, the spread of digital content over different platforms, increased use of second-screen apps, and a higher uptake of smart TVs and connected devices.
What's the Long-Term Growth Forecast for the Automatic Content Recognition Market Size Through 2029?
The market size of automatic content recognition is projected to experience considerable growth in the coming years, potentially reaching $20.89 billion by 2029 with a CAGR of 31.6%. The growth during the prediction period could be credited to the boom of the streaming services market, heightened concentration on content monetization and targeted adverts, greater use of ACR in the automotive sector, an escalating need for instantaneous content acknowledgement, and a surge in the use of smart devices. Key trends that might be observed during this forecast period include the emergence of cross-platform ACR solutions, application of deep learning and neural networks in ACR technology, deployment of ACR for live and real-time content recognition, incorporation of ACR into social media platforms, and a focus on data privacy and protection in ACR applications.
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What Are the Key Growth Drivers Fueling the Automatic Content Recognition Market Expansion?
The expanding utilization of intelligent gadgets and content streaming services is anticipated to fuel the expansion of the automatic content recognition market. Traditional TVs have been superseded by Smart TVs, which come equipped with streaming apps and the ability to stream content, including videos, music, films, and sports by linking the TV or home theater to the internet. The transformation brought by smart devices in our interaction and consumption of content streaming services has made it more convenient and pleasurable, enabling users to enjoy their preferred films, TV series, and music at home. For instance, in June 2022, the American tech research firm Counterpoint declared in the Economic Times that the smart TV market in India surged by 33% in the first quarter of 2022. Currently, smart TVs account for 89% of the total TV market in India. Furthermore, Amazon reported that the global monthly active Fire TV user base had exceeded 50 million. Therefore, the upswing in smart device usage and content streaming services may drive a surge in demand for automatic content recognition.
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What Are the Key Trends Driving Automatic Content Recognition Market Growth?
Leading corporations in the automatic content recognition market are centering their efforts on unveiling innovative solutions like TV intelligence suites to bolster user interactions and experiences. The phrase "TV intelligence suite" refers to an assemblage of technologies and tools designed to amplify the understanding and investigation of TV viewing practices and audience involvement. For instance, Nexxen International Ltd., a prominent advertising firm from Israel, inaugurated TV viewership audiences in Australia. It enhanced its TV intelligence suite using exclusive automatic content recognition (ACR) data procured from VIDAA, the smart TV operating system used by brands such as Hisense and Toshiba. This novel solution permits advertisers to formulate targeted audience sections built on viewing behaviors, revamp reach using the Nexxen TV Planner, and ascertain campaign effectiveness via Nexxen TV Measurement.
How Is the Automatic Content Recognition Market Segmented?
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
Subsegments:
1) By Audio, Video, And Image Recognition: Audio Fingerprinting, Video Content Recognition, Image And Object Recognition
2) By Voice And Speech Recognition: Voice Command Recognition, Speech-To-Text Technology, Voice Biometrics
3) By Real-Time Content Analytics: Audience Engagement Analysis, Content Performance Metrics, Sentiment Analysis
4) By Security And Copyright Management: Digital Rights Management (DRM), Content Identification Systems, Anti-Piracy Measures
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Which Companies Are Leading the Charge in Automatic Content Recognition Market Innovation?
Major companies operating in the automatic content recognition market include 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
Which Regions Are Leading the Global Automatic Content Recognition Market in Revenue?
Asia-Pacific was the largest region in the automatic content recognition market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the automatic content recognition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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