Audience Measurement to Drive Automatic Content Market Growth 2023
Increased usage of smart devices like smart TVs and smartphones has spurred the growth of the automatic content recognition industry. Market Research Future which focuses on market reports connected to Information and Communications Technology sector amongst others recently made available a report on this sector. The industry is anticipated to develop at a CAGR of approximately 32.4 per cent in the forecast period.
Emerging new technologies and increased consumer demand for more customized content has boosted the growth pace of the industry to a great extent. Increased levels of adoption of portable devices have been instrumental in maximizing the growth potential of the market. Large user base for the industry has increased the growth potential of the industry. With TV manufacturers significantly focusing on production of smart TVs as the consumer demand for such products has risen significantly, has provided more avenues for growth of the ACR market in the forecast period.
Industry Segments
The market for global automatic content recognition is divided on the criteria of technology, service and end-user. On the criteria based on technology, the market is divided into acoustic & digital video fingerprinting, optical character recognition, video & image watermarking and speech recognition. In service, the market is segmented into professional service, managed service and valued added service. On the basis of end-user the market is segmented into defense & public safety, consumer electronics, e-commerce, education, automotive, media & entertainment, IT & telecommunication, healthcare, avionics and others.
Industry News
Audience measurement metrics are key to discerning the success of campaigns. To this regard, PlaceIQ and Alphonso have partnered in 2019 to gain consumer location with respect to his/her viewing patterns. This can be used to link store visits with TV Ads and provide companies with data for placing targeted Ads. It relies on ACR for providing data which can give way to smarter media planning strategies.
Smart TVs have gained prominence owing to their high-quality display of content coupled with their collaboration with over-the-top (OTT) platforms. The inclination of consumers towards premium content has led to companies investing in gaining their viewing patterns. In 2018, Tubi TV, a U.S. streaming TV series provider teamed with Samba TV, a content recommendation engine, to gain insights through new measurement methods. The data can be used to transform viewing technologies of set-top boxes and furnish new data to OTT platforms.
Segmentation
The global automatic content recognition market is segmented by end-user and technology.
By end-user, the market caters to consumer electronics, advertising, media, and entertainment, broadcasting industry, gaming, industrial, education, and others. Among them, the advertising, media, and entertainment segment held the top position in the market and will dominate over the forecast period. This can be credited to rise in consumerism and advertising spends by companies attempting to enhance their brand.
By technology, the market is segmented into passive fingerprinting, digital watermarks, and speech recognition. Speech recognition is the fastest growing segment due to the popularity gained by intelligent personal assistants. Its integration in laptops, smartphones, and other consumer electronic devices is purported to boost the revenues of the segment.
Regional Outlook
Asia Pacific is expected to showcase the fastest growth over the assessment period due to numerous opportunities in China and India. This can be attributed to the large demographic in these countries which respond to Ads as well as adopt the latest technology rapidly. Disposable income levels of consumers is an additional bonus. In addition, investments in latest technologies can boost the regional automatic content recognition market growth.
North America is projected to reign supreme in the automatic content recognition market owing to attaining first advantage in adopting latest technologies. Its high generation of revenue can be credited to the U.S. which had a valuation of USD 248.1 million in 2017.
Europe is touted to generate high earnings due to the tie-up between smart TV manufacturers and advertisers by incorporating ACR to earn revenue based on promotions and sponsors.
More Information@ https://www.marketresearchfuture.com/reports/automatic-content-recognition-market-1208
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