Audience Measurement to Drive Automatic Content Recognition (ACR) Market 2023
Automatic Content Recognition (ACR) Market
Automatic content recognition (ACR) is a method used in identifying songs or other media types via their unique fingerprint. The method is in-built in applications such as Shazam which provides users with substantial information on the artist without any text-based inputs. This can influence users purchase decision and be lucrative for the music industry. The global automatic content recognition market report by Market Research Future (MRFR) contains the latest insights and opportunities covering five major regions.
Market Scope
The global automatic content recognition market size can exceed USD 4,507.2 million by 2023, according to MRFR. This can be attributed to the deluge of consumer electronic devices integrated with the capacity to recognize content. Technological advances in digital fingerprinting and watermarking which facilitates seamless linking between devices, content, and viewers are projected to bode well for the market from 2017 to 2023 (forecast period).
Companies specializing in TVs and smart displays can capitalize on the technology to gain a higher consumer base. The lineup of content viewing experiences of consumers can be used to obtain considerable insights on likes and dislikes. It could be a platform for such software providers to place targeted Ads in order to gain consumer interest.
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.
Detailed Regional Analysis
The market for automatic content recognition includes Europe, North America, Asia Pacific and Rest of the World. It has been witnessed that North American region is responsible for the main share of the market. The Middle East and Asia-Pacific region is estimated to display the main development chances in the segment due to an increase population, rising mobile users, mounting popularity of BYOD technology and prosperous IT & telecommunication are the key causes powering the market expansion. The North American area holds the main market portion in the industry across the globe followed by Asia Pacific and European regions. The Canada and US markets are governing the market in North America due to increasing technological improvements and a reputable media and entertainment industry. The Asia-Pacific region is anticipated to grow with highest CAGR.
Global Competitive Analysis
The goods that are on offer presently vary greatly owing to the reason of the strong pace of technological discoveries. This has raised the opportunities for the approaching growth period. The companies in this industry space are connecting their resources to achieve their vision for achieving considerable portion of the business as early as possible. This consequence is productive for firms so that they may maintain fiscal liquidity to take the best conclusions in terms of strategy execution and planning. The profitable prospects available in this market are being utilized by contenders who are trying to spread their market coverage by centered development which will prove to be perfect for the evolution of this business sector.
More Information@
Automatic Content Recognition Market Worth, Industry Trends, Growth -Global Forecast to 2023 | MRFR
Automatic Content Recognition Market expected to reach more than 27% CAGR growth forecast period…
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