Automatic Content Recognition Market Expected to Reach $11.4 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Automatic Content Recognition Market," The automatic content recognition market was valued at $2.2 billion in 2021, and is estimated to reach $11.4 billion by 2031, growing at a CAGR of 18.2% from 2022 to 2031.

Automatic content recognition (ACR) helps audiences retrieve information about the content they watched or listened by identifying the video or music content. In addition, ACR can link to internet content providers for on-demand viewing and contact third parties for additional background information, or complementary media. In addition, ACR solutions find significant application in media & entertainment, defense & public safety, e-commerce, consumer electronics, education, IT & telecommunication, automotive, healthcare, and avionics industries. Among these, the media and entertainment sector has surfaced as the leading end user of these solutions. Furthermore, rising use of smart devices and content streaming services and growing Integration of ACR in smartphones and wearable devices drive the growth of the automatic content recognition market. In addition, growing number of hosted automatic content recognition solution providers fuels the growth of the automatic content recognition market. However, increasing security concerns is expected to impede the automatic content recognition market growth. Furthermore, increase in adoption of AI, ML and NLP technologies is expected to offer remunerative opportunities for expansion during the automatic content recognition market forecast.

By enterprise size, the large enterprise segment holds the largest automatic content recognition market share as large enterprises are adopting ACR technology to protect all their infrastructure. However, the SMEs segment is expected to grow at the highest rate during the forecast period, owing to increase in adoption of new technologies and scaling of digital initiatives in the past few years.

By region, the automatic content recognition market size was dominated by North America in 2021 and is expected to retain its position during the forecast period owing to rise in technological advancements and a well-established media & entertainment industry. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to surge in adoption of automatic content recognition software by prominent companies in this region.

With the rapid spread of COVID-19, majority of people faced sudden surges in demand for financial resources, owing to sudden increase in panic among public, which, in turn, increased the workload performed at a time. This, in turn, augmented the demand for automatic content recognition to smoothly regulate the delay. Furthermore, various institutes are collaborating with Fintech institutes to improve the AI and ML capabilities. For instance, in March 2022, IBM collaborated with Flexera to launch new solutions with IT management software. In addition, the new solutions are aimed at helping businesses lower costs and automate the increasingly complex tasks of software license compliance and optimization. Thus, these are the factors are driving the growth of the automatic content recognition market during COVID-19 pandemic.

The integration of advanced technologies such as AI and big data is helping the industries to improve various aspects of a company such as perception, reasoning, learning, and problem solving of the human mind for detecting and predicting risks, which, in turn, is driving the growth of the market. In addition, the media enterprises widely adopt automatic content recognition technology for applications such as audience measurement and broadcasting monitoring. Moreover, various public and private entities are expected to come together to create ecosystems to share data for multiple use cases under a common regulatory and security framework, which, in turn, is expected to provide lucrative opportunity for the growth of the global automatic content recognition industry.

KEY FINDINGS OF THE STUDY

• By offering, the solution segment accounted for the largest automatic content recognition market share in 2021.

• By region, North America generated highest revenue in 2021.

• By enterprise size, the large enterprises segment generated the highest revenue in 2021.

The key players profiled in the automatic content recognition market analysis are ACRCloud, ArcSoft, Audible Magic, Apple, Digimarc Corporation, Google, Gracenote, IBM Corporation, KT Corporation, Kudelski Group, Microsoft Corporation, Nuance Communication, Inc., VoiceBase, Vobile, VoiceInteraction, Beatgrid Media B.V., Clarifai. These players have adopted various strategies to increase their market penetration and strengthen their position in the automatic content recognition industry.