The automatic content recognition market is estimated to grow from USD 2.3 billion in 2022 to USD 4.9 billion by 2027, at a CAGR of 16.8% during the forecast period. The automatic content recognition market is expected to grow at a rapid pace due to the evolution of new technologies, and adoption and scaling of digital initiatives.
The major vendors offering automatic content recognition solutions across the globe include IBM (US), Microsoft (US), Google (US), Digimarc (US), Apple (US), Nuance Communications (US), ArcSoft (US), ACRCloud (China), Audible Magic (US), KT Corporation (South Korea), Kudelski Group (Switzerland), Gracenote (US), VoiceInteraction (Portugal), VoiceBase (US), Vobile (US), mufin GMBH (Germany), Beatgrid Media BV (Netherlands), Clarifai (US), DataScouting (Greece), ivitec (Germany), Viscovery Pte Ltd (Taiwan), Zapr Media Labs (India), Valossa (Finland), SenseTime (China), Verbit (US), Megvii (China), and SambaTV (US). These vendors have adopted various growth strategies, such as partnerships, collaborations, and new product launches, to expand have been the most adopted strategies by major players from 2018 to 2022, which made companies innovate their products and services and widen their customer base.
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Nuance Communications is a document imaging and OCR provider. It was earlier named Visioneer Inc., which changed to ScanSoft in 1999. It was then named Nuance Communications in 2005. Nuance Communications is a leading provider of speech recognition solutions and language understanding. It has regional offices in 35 countries and a sales force in more than 70 countries. It has a presence around the world, mainly in the US, Canada, China, Japan, Germany, the UK, and other countries in Europe and the Asia Pacific. It has maintained the world’s largest voice data library.
Nuance Communications operates through various business divisions, such as healthcare, mobile and consumer, enterprise, and imaging. The company offers automated speech recognition solutions to its customers, focusing on automatic speech recognition, natural language understanding, information and dialog management, text-to-speech, OCR, biometric speaker authentication, and many more. It provides integrated solutions and services to various sectors, such as healthcare, automotive, BFSI, construction, education, utilities, journalism, retail, telco/ service providers, and travel & transportation. It has a small business division only dedicated to offering solutions and services to government agencies and the military sector. It uses advanced algorithms and analytics to change the way people interact with technology and information.
Digimarc is a US-based multinational firm and leading technology and innovative digital watermarking solution provider. Digimarc’s digital watermarking technology is used for various content types, such as audio, video, printed material, and imagery. Digimarc has a market presence in the US as well as internationally.
Digimarc has two key products: Digimarc Barcode for the retail sector and Digimarc Discover – a mobile app that can instantly connect users to a wide range of mobile web content. Digimarc Barcodes have applications, such as speedy scanning of product details at retailer payment counters and barcode-embedded smartphones to enhance customer engagement. The company also offers to license to intellectual property, develops various automatic content recognition solutions, and provides development services to diverse industries globally. It deals with business segments, such as mobile SDK, printing, marketing, photography, copyright, packaging, retail, publishing, and sound.
Automatic Content Recognition Market with Covid-19 Impact Analysis, By Component, Content, Technology, Applications (Broadcast Monitoring and AD Targeting & Pricing), Deployment Mode, Organization Size, Vertical and Region - Global Forecast to 2027
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