Global Automatic Content Recognition (ACR) Market to Grow at 29% CAGR till 2024
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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