Research Nester has released a report titled “Automatic Content Recognition (ACR) Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the automatic content recognition market in terms of market segmentation by services, by solution, by technology, by vertical and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global automatic content recognition (ACR) market is segmented by vertical into media & entertainment, IT & telecommunication, healthcare, defense & public safety, consumer electronics, e-commerce, education, automotive, avionics and others, out of which, media & entertainment sub-segment is anticipated to hold the largest market share on account of growing demand for streaming of DVRs, Video on Demand and over-the-top media channels across all screens. Furthermore, increasing time spent by people for leisure activities is also a factor anticipated to drive the growth of the segment in the global ACR market.
The global ACR market is anticipated to record a CAGR of around 30.12% during the forecast period, i.e. 2019-2027. Increasing integration of ACR technology in smart phones and smart TVs, along with the increasing deployment of ACR technologies by media companies for applications, such as, broadcast monitoring, audience measurement and others, coupled with the need to address the struggling brands and advertisers, so as to align their broadcast and digital media strategies with a cohesive, consistent message, all of these factors are anticipated to promote significantly towards the growth of the global ACR market over the forecast period.
Regionally, the global ACR market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, Asia Pacific is expected to hold the largest market share on account of rise in technological advancements in the regions across nations, such as, Australia, China, Japan, India and others, coupled with rapid adoption of technology enabled smart devices in the region, increasing population, rising mobile users, mounting popularity of BYOD technology and prosperous IT & telecommunication, all of these factors are anticipated to contribute significantly towards the growth of the global ACR market in the region. In the statistics by the International Trade Administration of the Department of Commerce, United Stated of America, India is known to have 161 million TV households. India is known to be the world’s third largest TV market after China and the USA. Moreover, OTT movie-streaming services is anticipated to generate the greatest growth in the filmed entertainment industry.
Rise in the Integration of ACR in Smart TVs and Second Screen Devices
In the statistics by Pew Research Center, smartphone ownership in the U.S. peaked to 81% from 35% in-between May 2011 and February 2019. Moreover, in a publication by the Bureau of Labor Statistics of the United States Department of Labor, around 2.8 hours per day was occupied for watching TV as a leisure activity in the year 2018.
Users around the globe are increasing their leisure time activity on watching TV. Moreover, with the growing ownership of smartphones, and TV viewers worldwide, there is also a rising demand for personalized content. Owing to such a factor, electronics manufacturing companies are increasingly embedding automatic content recognition technology in smart devices such as TVs and mobile handsets so as to engage with television viewers on their second screens and thereby measure a specific show’s audience viewership in real time. The rise in such integration of ACRs across electronic devices is anticipated as a key growth driver for the global ACR market throughout the forecast period.
However, concerns regarding data privacy and security of data in the age of growing cybercrimes is considered to operate as key a restraint to the growth of the global ACR market.
This report also provides the existing competitive scenario of some of the key players of the global ACR market, which includes company profiling of Apple Inc. (NASDAQ: AAPL), Audible Magic Corporation, Kantar Media, Digimarc Corporation (NASDAQ: DMRC), Signalogic Inc., Vobile Group Limited (HKG: 3738), VoiceInteraction SA, ACRCloud Limited, Nuance Communications Inc. (NASDAQ: NUAN), and Beatgrid Media B.V. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global ACR market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.