Newly-released Automatic Content Recognition Market analysis report by Future Market Insights shows that global sales of the Automatic Content Recognition Market in 2021 were held at USD 2 Billion. With 13.1% projected growth from 2022 to 2032, the market is expected to reach a valuation of USD 7.9 Billion by 2032. Media & Entertainment is expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 12.9% from 2022 to 2032.
Attributes | Details |
---|---|
Automatic Content Recognition Market CAGR (2022 to 2032) | 13.1% |
Automatic Content Recognition Market Size (2022) | USD 2.3 Billion |
Automatic Content Recognition Market Size (2032) | USD 7.9 Billion |
USA Market CAGR (2022 to 2032) | 11.9% |
Key Companies Covered |
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As per the Global Automatic Content Recognition Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Automatic Content Recognition Market increased at around 16.6% CAGR. Global demand for automatic content identification solutions has increased as a result of the advent of automatic content recognition technologies in smart TVs and smartphones.
The increasing use of automatic content identification by media companies for audience assessment and broadcast monitoring is also expected to fuel the growth of the global market for autonomous content recognition. Due to the rise of smart devices such as smartphones, televisions, and wearables, there is a growing demand for content identification, recognition, and augmentation among enterprises and end users.
The usage of automatic content recognition systems and services by businesses led to a range of ways in which life hacking has become simpler. By launching music recognition software that combined digital fingerprinting technology, Shazam established the trend. Many companies adopted this strategy and released second-screen apps for smart TVs and smartphones that were based on automatic content identification. The popularity of on-demand video platforms like Netflix, Hotstar, YouTube, and Amazon Prime has increased the need for automatic content detection tools and services.
Smart TVs provide a wide range of increased processing and networking capabilities. Advanced functions on smart TVs include searching, talking, browsing, sharing, upgrading, and downloading. TV viewership in India climbed by 12% in 2018, according to the Broadcast Audience Research Council (BARC). Smartphones account for 70% of total online traffic; hence, content reorganization is critical for material synchronization and preserving uniformity and consistency of data.
The rising popularity of social media on smartphones is increasing demand for the Automatic Content Recognition market. The growing usage of second-screen devices, such as smartphones and wearables, for tracking unlawful users is propelling the market growth. According to a Netflix poll, more than 70% of its programs are viewed on smartphones and tablets rather than TVs.
The expanding number of viewers on YouTube and other social media sites necessitates a review of the overall number of viewers captured, resulting in a necessity for automatic content identification technologies. For example, in 2018, 2.32 Billion people utilized Facebook on a daily basis. The market is also projected to be driven by several manufacturers delivering innovative technologies for Automatic Content Recognition. Zeitera, a pioneer in digital audio and video fingerprinting technology, has developed a patented audio-video content identification and search system for smart TVs, smartphones, and tablets.
Data is a critical aspect that most businesses struggle to manage. It serves as the foundation of automatic content recognition technologies. Due to the inability to manage exabytes and petabytes of data, the risk of security breaches and data loss has increased. In order to avert breaches, businesses will need more comprehensive security and privacy protection as IoT becomes more ubiquitous.
The issue of security jeopardizes the advancement of digitalization. In today's competitive sector, marketing teams require real-time and secure data to create an amazing customer experience. Data is collected and virtually measured by organizations through a variety of touchpoints. The data types include public information, huge data, and customer-supplied microdata.
Watermarking and digital fingerprinting, two of the most often utilized automatic content identification technologies, have a few drawbacks that cause serious financial issues. The usage of digital fingerprinting has drawbacks in that users can change the data. However, there are even more fundamental issues with digital watermarking that provide significant difficulties for businesses using it for automatic content recognition. Including the watermark in the material adds a diversion to the media file in addition to altering the properties of the original file. As opposed to fingerprinting, watermarking offers a more secure method of identification.
During the projection period, North America is expected to be the largest Automatic Content Recognition Market. Every day, around 3.5 billion individuals use search engines to find information. As a result, Automatic Content Recognition is required for content identification and augmentation.
The improved healthcare infrastructure influences the demand for audio and visual identification technology. Furthermore, the expanding automobile sector in the USA and Canada is influencing the demand for speech recognition to improve communication systems integrated into automobiles, such as phone calls, audio devices, and navigation. In 2016, Canada's automotive industry, for example, featured 1,085 car manufacturers and 1,275 manufacturing facilities. As a result, the demand for voice recognition to do several automated tasks in a vehicle has increased.
The USA is expected to account for the highest market of USD 2.5 Billion by the end of 2032. Also, the market in the country is projected to account for an absolute dollar growth of USD 1.7 Billion. In the USA, face, and speech recognition is utilized to collect and store data in electronic health records. As a result, various manufacturers developing software for the healthcare sector are expected to support market growth. For example, DrChrono released an Electronic Health Record in November 2017 that uses Apple's facial recognition to preserve electronic records. Drchrono contains around 10 Million patient medical records, which represents approximately 3% of the US population.
Market revenue through media and entertainment is forecasted to grow at a CAGR of over 12.9% from 2022 to 2032. The highest market share is served by media and entertainment. Automatic Content Recognition technology captures a few pixels of whatever the user is currently watching on TV. The data is subsequently transferred to the TV manufacturer's Automatic Content Recognition tracking program, which analyzes a variety of parameters. Automatic Content Recognition technology is available on websites where audiovisual content has already been verified. This can positively affect the development of applications targeting this market. Cell phones are becoming increasingly popular. For example, about 2.7 Billion& smartphone users globally increased demand for the automatic content recognition market in 2018.
Various suppliers offer music-listening programs that synchronize the content using Automatic Content Recognition. Mufin GmbH, for example, is a prominent provider of automatic content recognition for Android apps when listening to music. Second-screen devices such as smartphones, tablets, and laptops are used by consumers to view TV shows and listen to music. Automatic Content Recognition synchronizes data and sends real-time information to the second screen user, paving the way for an automated content recognition market. According to Netflix survey data, more than 24% of the population watches television on a second screen.
Players in the market are constantly developing improved analytical solutions as well as extending their product offerings. The companies in the Automatic Content Recognition Market are focused on their alliances, technology collaborations, and product launch strategies.
Some of the recent developments of key Automatic Content Recognition providers are as follows:
Similarly, recent developments related to companies in Automatic Content Recognition Market have been tracked by the team at Future Market Insights, which are available in the full report.
The global Automatic Content Recognition Market is worth more than USD 2.3 Billion at present.
The value of the Automatic Content Recognition Market is projected to increase at a CAGR of around 13.1% from 2022 to 2032.
The value of the Automatic Content Recognition Market increased at a CAGR of around 16.6% from 2017 to 2021.
The global demand for Automatic Content Recognition is being shaped by a considerable increase in the use of on-demand video platforms.
Automatic Content Recognition market growth in the USA is projected to expand at a CAGR of around 11.9% from 2022 to 2032.
Automatic Content Recognition market growth in China is projected to expand at a CAGR of around 14.1% from 2022 to 2032.
While the market in South Korea is expected to grow at nearly 13.6%, the market in Japan is projected to register a CAGR of nearly 12.5% from 2022 to 2032.
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