Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSIntroduction to Automatic Content Recognition (ACR) Marekt Overview
Automatic content recognition (ACR) recognizes the content played on a media device by an identification technology. By the use of the technology, users can quickly obtain additional information about the content they see without any user-based search efforts. The process of content recognition starts with the selection of a short media clip, which is then compared to a database of reference fingerprints. If the details are matched, the software provides the data acquired during the matching process to the user.
Market Size and Forecast
The global ACR market is thriving on the back of 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. Additionally, to address the struggling brands and advertisers, so as to align their broadcast and digital media strategies with a cohesive, consistent message across a fragmented media landscape, there is a rising demand for real-time moment marketing and thereby deliver the right content to the user along with personalization and relevance in the content, benefitting consumers, broadcasters as well as advertisers. All of these factors are anticipated to contribute significantly towards the growth of the global ACR market.
The market is anticipated to record a CAGR of around 30.12% throughout the forecast period, i.e. 2019-2027. The global ACR market is segmented by vertical into media & entertainment, consumer electronics, e-commerce, education, automotive, IT & telecommunication, healthcare, defense & public safety, avionics and others, out of which, media & entertainment sub-segment is anticipated to hold the largest market share on the back of rise in the streaming of DVRs, Video on Demand and over-the-top media channels across all screens. With the rise in the streaming of these media channels, it has made the viewer’s life significantly better and has allowed them to deliver what, when and where they watch. The resulting action has also affected the advertisers and content owners by making things more difficult for them. Owing to all these factors there is a rising need for identifying all types of media content by the ACR technology which is anticipated to drive the growth of the segment in the global ACR market during the forecast period.CLICK TO DOWNLOAD SAMPLE REPORT
Growth Drivers
Growing Need Amongst Companies To Understand Consumer Behavior
Rise in the pressure to quantify the ROI of significant broadcast media investments in relation to digital media has led to the growing need amongst companies to understand the consumer behavior and thereby provide personalize contents and advertising experiences. Automatic content recognition offers a standard process for coordinating broadcast and digital messaging in real-time. Such a factor increases the success of brand engagement, purchase-lift and online conversions. With the help of ACR, broadcasters can have an accurate and efficient method for measuring the impact of their media campaigns and thereby optimize their marketing strategies to increase viewership. Such a factor is anticipated to contribute significantly towards the growth of the global automatic content recognition market.
Rise in the Integration of ACR in Smart TVs and Second Screen Devices
There is a significant increase in the number of users of smartphones along with the growth in the consumer electronics segment. According to the statistics by Pew Research Center, smartphone ownership in the U.S. grew from 35% in May 2011 to 81% in February 2019, with an increase in 46 percentage points during the period.
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. Moreover, increasing consumer demand for more customized content on the back of increasing time spent on leisure activities have also provided a platform for brands to provide customized advertising content based on the users viewing preference. According to a publication of the Bureau of Labor Statistics of the United States Department of Labor, watching TV was the leisure activity that occupied the most time of around 2.8 hours per day, which accounted for just over half of all leisure time on average during the year 2018. All of these factors are anticipated to contribute significantly towards the growth of the global ACR market.
Restraints
Privacy and Security Constraints
ACR acquires consumer data by recognizing activity from various devices which are inter-connected in a network. Increasing occurrences of data theft and concerns for data privacy along with rising cybercrimes, all of these factors are anticipated to act as a barrier to the growth of the global ACr market.
Market Segmentation
Our in-depth analysis of the global ACR market includes the following segments:
By Services
By Solution
By Technology
By Vertical
By Region
On the basis of regional analysis, the global ACR market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Asia Pacific is expected to hold the largest market share on the back of growing technological advancements in the regions across nations, such as, Australia, China, Japan, India and others. Rapid adoption of technology enabled smart devices in the region is also anticipated to promote towards the growth of the market in the region. Additionally, several other factors, such as, 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. According to the statistics by the International Trade Administration of the Department of Commerce, United Stated of America, India is known to have the world’s third largest TV market with 161 million TV households after China and the USA. Additionally, it also anticipated that the greatest growth in the filmed entertainment industry will come from OTT movie-streaming services.
The global ACR market is further classified on the basis of region as follows:
Top Featured Companies Dominating the Market
Disclaimer | Privacy Policy | Terms & Conditions
Copyright © 2020 Research Nester. All Rights Reserved
