The Automatic Content Recognition revenues were estimated at US$ 2 Bn in 2021 and is anticipated to grow at a CAGR of 13.1% from 2022-2032, according to a recently published Future Market Insights report.
By the end of 2032, the market is expected to reach a valuation of US$ 7.9 Bn. Revenue through real-time content analytics is projected to grow at a CAGR of 13% during 2022 – 2032.
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.
Competitive Landscape
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:
• In February 2022, IBM acquired Neudesic, a US cloud services provider that specializes in the Microsoft Azure platform and has multi-cloud expertise. This acquisition significantly expands IBM's provision of hybrid multi-cloud services and strengthens the company's hybrid cloud and artificial intelligence initiatives.
• In August 2021, Google and TCS collaborated to establish Google Garages within its innovation hubs in New York, Amsterdam, and Tokyo to launch businesses that analyze cloud technologies, prototype and develop applications, and employ analytics and AI to meet commercial possibilities.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Automatic Content Recognition Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Automatic Content Recognition in terms of Solution (Real-time Content Analytics, Voice Speech Recognition, Security Copyright Management, Data Management Metadata, Other), and End-user Industry (IT Telecommunication, Consumer Electronics, Media Entertainment, Healthcare, Other) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East Africa).
For More Info - https://www.futuremarketinsights.com/reports/automatic-content-recognition-market
