Selbyville, Delaware, April 23, 2024 (GLOBE NEWSWIRE) --
The automatic content recognition market valuation is projected to be worth over USD 13 billion by 2032, as reported in a research study by Global Market In sights Inc.
The increasing demand for personalized content delivery and advertisement targeting will drive the industry growth. The rising popularity of streaming services and smart devices is escalating the reliance on automatic content recognition (ACR) technology to enhance user experience. As consumers continue to embrace streaming platforms for entertainment, automatic content recognition solutions enable accurate content identification and recommendation algorithms for improving user engagement and retention.
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The proliferation of smart TVs, smartphones, and other connected devices will further propel the adoption of ACR technology. According to Hub Entertainment Research, American homes own an estimated 204 million smart TV sets. These devices leverage capabilities that enable seamless content synchronization across multiple screens for providing users with a cohesive and immersive media experience. The growing importance of data-driven insights in advertising and media industries will also drive the industry demand.
The over-the-top (OTT) platform segment in the automatic content recognition market is projected to expand between 2023 and 2032, driven by its disruptive impact on traditional media consumption patterns. OTT platforms, which deliver video content over the internet, have witnessed exponential growth due to increased internet penetration, widespread adoption of smart devices, and changing viewer preferences. Unlike traditional broadcast and cable TV, OTT services offer on-demand access to a vast array of content, including movies, TV shows, and live events for catering to diverse age groups.
The automatic content recognition market from the IT & telecommunication end-use segment will generate sustainable growth between 2023 and 2032, favored by the robust infrastructure and increasing emphasis on enhancing user experiences. With the proliferation of smart devices and the advent of high-speed internet connectivity, the demand for seamless content delivery and personalized experiences has surged within the IT & telecommunication sector. Telecom operators are leveraging ACR solutions to differentiate their services and retain subscribers. IT companies are also incorporating also ACR technology into their software solutions to optimize content management, metadata tagging, and media monitoring processes.
Asia Pacific automatic content recognition market size is set to exhibit robust CAGR from 2023-2032. The growth is attributed to the rapid adoption of smart devices and internet-enabled technologies. With a burgeoning middle class and increasing disposable incomes, consumers in the region are embracing digital content consumption through a variety of platforms, including streaming services, social media, and mobile applications. ACR technology offers precise content identification and audience segmentation capabilities, enabling advertisers to deliver personalized advertisements across multiple channels, further stimulating the regional industry expansion.
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Some of the top firms engaged in the automatic content recognition market include Apple Inc. (Shazam Entertainment Ltd.), Nuance Communications Inc., Audible Magic Corporation, IBM Corporation, Clarifai Inc., Google LLC (Alphabet Inc.) and Digimark Corporation. These market players are working on new product developments, collaborations, acquisitions, and mergers to widen their product portfolio. For instance, in October 2023, Shazam, a well-known music recognition app owned by Apple, introduced Concerts, a feature that allowed users to discover upcoming concerts based on their preferences.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data Sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Automatic content recognition market 360º synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023-2032
2.3 Regional trends
2.4 Component trends
2.5 Technology trends
2.6 Enterprise size trends
2.7 Deployment model trends
2.8 Platform trends
2.9 Application trends
2.10 End-use industry trends
Chapter 3 Automatic Content Recognition Market Industry Insights
3.1 Impact on COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Rising second screen engagement
3.10.1.2 Demand for personalized content and recommendations
3.10.1.3 Growing demand for Over-the-Top (OTT) services
3.10.1.4 Rising number of social media users
3.10.1.5 Increasing adoption of AI and ML
3.10.2 Industry pitfalls & challenges
3.10.2.1 Interoperability issues
3.10.2.2 Increasing privacy and data security concerns
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
