OTT services to propel automatic content recognition market growth

According to The Business Research Company’s research on the automatic content recognition market, the rising use of smart devices and content streaming services is expected to propel the growth of the automatic content recognition market. Smart TVs are essentially televisions with built-in streaming apps, that can stream content (video, music, movies, and sports) using a streaming device or app by connecting the TV or home theatre to the internet. Due to the pandemic (COVID 19), many people will be confined at home starting in 2020, and smart devices and content streaming devices are skyrocketed and increased the subscribers for content streaming platforms. For instance, in June 2022, counterpoint a US-based technology research company published an article in the economic times stating that the Indian smart tv market raised to 33% in Q1 2022. Currently, 89% of India's TV market is made up of smart TVs. In February 2021, the business standard published an article stating that amazon fire tv users are been doubled in 2020 in India. Amazon did not provide sales figures for India but stated that the number of monthly active fire TV users worldwide surpassed 50 million users. Therefore, demand for automatic content recognition will rise as the prevalence of the increasing use of smart devices and content streaming services rises.

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The global automatic content recognition market size is expected to grow from $2.65 billion in 2021 to $3.41 billion in 2022 at a compound annual growth rate (CAGR) of 28.35%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The automatic content recognition market is expected to reach $9.61 billion in 2026 at a compound annual growth rate (CAGR) of 29.59%.

Technological advancement is a key trend gaining popularity in automatic content recognition. Major companies in the automatic content recognition market are advancing in their new technologies and research and developing the automatic content recognition market. For instance, in August 2021, LumenVox a US-based speech recognition software company launched a new generation of automatic speech recognition (ASR). The unique features of ASR are a transcription engine built with deep machine learning and artificial intelligence (AI), DNN's (Deep Neural Network) end-to-end architecture, and processing skills for speech recognition. The system is more accessible to users since it can grow the language model more quickly and provide new toolsets for adding additional languages and dialects. The development of this innovative technology is another step forward in automatic content recognition.

Major players in the automatic content recognition market are IBM Corporation, Microsoft Corporation, Google LLC, Digimarc Corporation, Apple Inc, Nuance Communications, Inc, ArcSoft Corporation Limited., ACRCloud, Audible Magic Corporation, Vobile, Inc., Kantar Media, Ivitec, VoiceInteraction, Gracenote, VoiceBase, Inc., and Beatgrid Media B.V.

The global automatic content recognition  market is segmented by type into audio, video and image recognition, voice and speech recognition, real-time content analytics, security and copyright management; by component into hardware, software; by deployment into cloud, on-premises; by application into audience segmentation and measurement, broadcast monitoring, advertisement targeting and pricing, content filtering, other applications; by vertical into media and entertainment, consumer electronics, retail and e-commerce, education, automotive.

Asia Pacific was the largest region in the automatic content recognition market in 2021 and is expected to be the fastest-growing region in the forecast period. The regions covered in automatic content recognition market research are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Automatic Content Recognition Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is

one of a series of new reports from The Business Research Company that provide automatic content recognition market forecast size and growth, automatic content recognition market segments, automatic content recognition market trends, drivers and restraints, leading competitors’ revenues, profiles and market shares in its competitive landscape section for over 3,000 industry reports, covering more than 2,500 market segments and 60 geographies.

The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

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