Increasing demand for broadcast monitoring and audience monitoring to drive global automatic content recognition (ACR) market through 2024.
According to TechSci Research report, “Global Automatic Content Recognition (ACR) Market By Component, By Technology, By End User, By Region, Competition, Forecast & Opportunities, 2014 – 2024”, global automatic content recognition market is projected to grow at a CAGR of over 29% during the forecast period, owing to growing ACR application for understanding the audience behavior. Automatic Content Recognition is used for verifying the content played on a media device or present in a media device. ACR is gaining popularity across various verticals including education, automotive, e-commerce and consumer electronics. Electronic goods, such as smartphones and tablets, are being integrated with automatic content recognition features and the trend is expected to continue through 2024, as the technology is efficient and allows seamless interlinking of applications and devices.
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Solution segment is anticipated to dominate global automatic content recognition market through 2024. Automatic content recognition offers solutions including audio, video & image recognition, voice & image recognition and real time content analytics, security and copyright management, data management & metadata and others. The leading segment in the ACR market is audio, video & image recognition, as it can identify all sorts of media content. Companies are increasingly focusing on the consumer behavior, owing to which adoption of real time analytics is growing at a robust pace, thus, the segment is expected to grow at the highest rate during the forecast period.
Google Inc., Microsoft Corporation, Nuance Communications, Grace Note Inc, Arcsoft, Inc., are some of the leading players operating in global automatic content recognition market. North America has developed media & entertainment industry, contributing to its dominant position in the global automatic content recognition market. Asia-Pacific region is witnessing significant growth, on account of increasing penetration of ACR enabled smartphones in economies such as India and China.
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“Need for audience measurement is a major driver fueling the adoption of automatic content recognition across the globe. Moreover, devices compatible with ACR provide additional information about the content without any input, thereby further boosting demand for automatic content recognition. As more and more companies are integrating technologies in devices to enhance the customer experience, global automatic content recognition market is expected to register strong growth over the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Automatic Content Recognition (ACR) Market By Component, By Technology, By Vertical, By Region, By Company, Competition, Forecast & Opportunities, 2014 – 2024” has evaluated the future growth potential of ACR market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global automatic content recognition market.
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