Automatic Content Recognition Market Analysis by Key Manufacturers, Regions to 2023
Added: (Wed Jan 31 2018)
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The global automatic content recognition market is projected to witness a rapid growth during the forecast period. High growth opportunities in emerging economies and rising adoption of portable device are the major factor driving the growth of the market. Moreover, increasing demand for automatic content recognition across various industry verticals such consumer electronics, IT & telecommunication, retail, e-commerce is fueling the growth of the global market.
The global automatic content recognition market, by geography, is segmented into North America, Europe, Asia Pacific, and Rest of the World. As compared to other regions, the automatic content recognition market in North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the North American automatic content recognition market owing to the presence of large number of established key players such as ACRCloud (China), Audible Magic Corporation (U.S.), Civolution (U.S.), Enswers, Inc. (South Korea), Gracenote, Inc. (U.S.) in this region. Due to the high adoption of portable device and rising technological advancement in the region, the market is likely to show immense growth in the coming future. Additionally, North America also has a well-established infrastructure, which allows higher penetration of devices and ultimately provides better connectivity. Increasing need for innovations and advancements in the technology are other major factors responsible for the growth of the Automatic Content Recognition Market.
In the global automatic content recognition market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to the growing adoption of portable device, emerging economies and technological advancement in automatic content recognition in the region.
The global Automatic Content Recognition market is projected to reach USD 3.62 billion at a CAGR of over 32.4% by the end of the forecast period 2017-2023.
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Automatic Content Recognition Market Research Report-Forecast to 2023”.
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Automatic Content Recognition Market Segmentation:
The global automatic content recognition market is segmented on the basis of service, technology and end user. The end user segment is classified into consumer electronics, IT & telecommunication, automotive, retail, ecommerce and others. However, consumer electronics segment is expected to hold the largest share of the automatic content recognition market. This is owing to the increased adoption of ACR technology in TV, smartphones and electronic gadgets, expansion of markets across globe, increased expenditure on mobile devices and advanced communications channels to connect with employees, customers, and clients has led to demand of automatic content recognition solution in the industry.
Some of the prominent players in the global automatic content recognition market: Arcsoft, Inc. (U.S.), Digimarc Corporation (U.S.), Google, Inc. (U.S.), Microsoft Corporation (U.S.), Nuance communications (U.S.), ACRCloud (China), Audible Magic Corporation (U.S.), Civolution (U.S.), Enswers, Inc. (South Korea), Gracenote, Inc. (U.S.), Mufin Gmbh (Germany), Shazam Entertainment Ltd. (U.K.), Vobile, Inc. (U.S.), Voiceinteraction SA (Portugal), Beatgrid Media BV (The Netherlands), Clarifai Inc. (U.S.), DataScouting (Greece), iPharro Media GmbH (Germany), Viscovery Pte Ltd. (Taiwan), and VoiceBace, Inc. (U.S.).
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Market Research Analysis:
North America is estimated to account for the largest share of the market, whereas Asia-Pacific market is projected to grow at the fastest rate during the forecast period. The North American market is witnessing rapid growth due to technological advancements and increasing demand for mobile application development platforms across different industry verticals in this region. U.S. holds majority of the market share both in terms of revenue as well as adoption of mobile applications.
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