Automatic Content Recognition Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)
The automatic content recognition market is expected to register a CAGR of 30% over the forecast period. The market for automatic content recognition is increasing with significant momentum due to the constant advancements in content recognition technology platforms.
Key HighlightsThe COVID-19 outbreak showed weaknesses in business models across industries. It also gave people the chance to digitize and grow their businesses across regions by using and adding technologies like blockchain, IoT, analytics, cloud, and AI during the lockdown period. The pandemic was combated in part because of machine learning and data analytics. Practically all nations used automatic content recognition supported by machine learning and AI analysis in some capacity to determine the pandemic's death toll and the growth rate of the curve of afflicted people.
Automatic Content Recognition Market TrendsMedia & Entertainment Sector is Expected to Grow at a Significant RateThe automatic content recognition market is moderately competitive and consists of a few major players. In terms of market share, some of the players currently dominate the market. However, with the advancement in content recognition across managed services, new players are increasing their market presence, thereby expanding their business footprint across emerging economies.
In September 2022, the linked TV and cross-screen advertising service LG Ads Solutions announced the global introduction of its exclusive automated content recognition (ACR) technology across LG TVs. Millions of smart TVs in Europe, Africa, Asia-Pacific, Latin America, and Australia will get the new ACR solution as part of the deployment, which will replace older technology.
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