DUBLIN--(BUSINESS WIRE)--The "Automatic Content Recognition Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
Automatic content recognition market is expected to grow at a CAGR of over 30% during the forecast period 2019 - 2024
The market for automatic content recognition is increasing at significant momentum due to the constant advancements in the content recognition technology platform.
Due to the rise of automatic content recognition technology in smartphones and smart TVs, the demand for automatic content recognition solutions has grown globally. Additionally, increasing deployment of Automatic Content Recognition by the media companies for applications such as audience measurement and broadcast monitoring is anticipated to raise the global automatic content recognition market growth.
With the growth of the consumer electronics segment, the electronics manufacturing companies are increasingly embedding automatic content recognition technology in smart devices such as TVs and mobile handsets. Moreover, the emergence of new technologies and increased consumer demand for more customized content have boosted the growing pace of the automatic content recognition market across industries to a great extent. Increased levels of adoption of portable devices have been instrumental in maximizing the growth potential of the market.
Scope of the Report
Automatic content recognition (ACR) is an identification technology which is used to verify the content played on a media device or present in a media file. The devices containing ACR support enable users to quickly obtain additional information about the content they have just experienced without any user based input or search efforts.
It provides a solution for various brands to engage with television viewers on their second screens. Technology present viewers with second-screen content that's synced with the TV program and enables networks to measure a specific show's audience viewership in real time. It works by making a digital mark from content on the television screen. This information can be used to identify the on-screen content, and to sync with other automatic content recognition enabled devices, such as tablets and phones.
Key Market Trends
Media & Entertainment Sector is Expected to Grow at a Significant Rate
- With DVRs, Video on Demand and over-the-top streaming across all screens has made the viewer's life significantly better by allowing them to deliver what, when and where they watch, things got more difficult for advertisers and content owners. This is because over the past few years, live audiences decreased and overall viewer engagement declined. Due to the rise of automatic content recognition technology in smartphones and smart TVs, has led to the high demand for automatic content recognition solutions globally.
- During the forecast period the audio, video, and image recognition solution are expected to dominate the solution segment in the automatic content recognition market as it is the most demanding solution, which helps in identifying all types of media content in the smart devices.
Asia-Pacific Region is Registered as the Fastest Growing Market
- APAC is expected to attribute the higher growth in the next few years due to technological advancement, across economically developing countries such as Australia, India, China, and Japan, thereby rapidly adopting technology-enabled smart devices, which is anticipated to foster the global market.
- The Asia-Pacific region is estimated to display major development chances across the segment due to an increasing population, rising mobile users, mounting popularity of BYOD technology and prosperous IT & telecommunication as the key causes powering the market expansion.
- According, to International Trade Administration Chinas markets grew from USD 209 billion by 10% during 2016 - 2017. Although the market size and potential are unmatched due to stringent barriers to entry persist due to censorship rules on cultural content sectors, including internet, TV, film, music, radio.
Competitive Landscape
The automatic content recognition market is moderately competitive and consists of a few major players. In terms of market share, some of the players currently dominate the market. However, with the advancement in the content recognition across the managed services, new players are increasing their market presence thereby expanding their business footprint across the emerging economies.
- May 2019 - Nuance Communications, Inc. announced that it powers features of the BMW Intelligent Personal Assistant. Available first in the new BMW 3 Series, It is an AI-powered digital companion that enables drivers to operate their car and access its functions and information simply by speaking.
- Nov 2018 - Anghami, the leading Music company in the MENA region & ACRCloud teamed up to bring Radar feature, where the user won't miss a song and will be able to recognize all the songs playing around them. Anghami provides a seamless music experience and allows to play unlimited music on-the-go through mobile.
Market Dynamics
Market Drivers
- Rising Deployment of ACR in Media & Entertainment Industry
- Growing Integration of ACR in Smartphones and Wearable Devices
Market Restraints
- Rising Privacy and Security Constraints
Industry Value Chain Analysis
Industry Attractiveness - Porter's Five Forces Analysis
Companies Mentioned
- Shazam Entertainment Ltd.
- Audible Magic Corporation
- Kantar Media SAS
- Digimark Corporation
- Signalogic Inc.
- Vobile Group Limited
- VoiceInteraction SA
- ACRCloud
- Nuance Communications Inc.
- Audible Magic Corporation
- Beatgrid Media B.V
For more information about this report visit https://www.researchandmarkets.com/r/845p9u
