According to The Business Research Company’s Automatic Content Recognition , The automatic content recognition market size has grown exponentially in recent years. It will grow from <b>$4.3 billion in 2023 to $5.55 billion in 2024 at a compound annual growth rate (CAGR) of 29.1%. </b> 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.
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The automatic content recognition market size is expected to see exponential growth in the next few years. It will grow to <b>$15.75 billion in 2028 at a compound annual growth rate (CAGR) of 29.8%. </b> 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.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
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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, AutomotiveTechnological 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 report table of contents includes:
- Executive Summary
- Automatic Content Recognition Market Characteristics
- Automatic Content Recognition Market Trends And Strategies
- Automatic Content Recognition Market – Macro Economic Scenario
- Global Automatic Content Recognition Market Size and Growth
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- Global Automatic Content Recognition Market Competitive Benchmarking
- Global Automatic Content Recognition Market Competitive Dashboard
- Key Mergers And Acquisitions In The Automatic Content Recognition Market
- Automatic Content Recognition Market Future Outlook and Potential Analysis
- Appendix
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