LONDON–(BUSINESS WIRE)–Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Automatic Content Recognition Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the information technology industry. This report breaks down the data and analysis behind the procurement of automatic content recognition solutions and acts as an all-inclusive guide for making smart purchasing decisions.
“The global ACR market is characterized by an increase in demand for media monitoring and second screen synchronization solutions, which are matched by suppliers' technological innovations in their ACR-related products and service portfolio,” says SpendEdge procurement research analyst Bhuvaneshwari Udayakumar. “TV manufacturers prefer strategic partnerships with ACR suppliers to imbibe the technology in TV sets as it would allow them to incorporate better product features such as second screen synchronization,” added Bhuvaneshwari.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Automatic Content Recognition Market:
- Development of offline content recognition capabilities.
- The rise in adoption of AI for mood analysis.
- Development of ACR-enabled TV loyalty programs.
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Development of offline content recognition capabilities:
There is a high demand for the development of offline content recognition capabilities since most of the ACR solutions cannot work without an internet connection. In case of unavailability of appropriate internet connection, the ability of ACR solutions is restricted. Suppliers in this industry have started developing ACRCloud which aims at offering ACR solutions with offline content recognition capabilities. This eliminates the need for the end consumers' device to be connected to the internet.
The rise in adoption of AI for mood analysis:
The suppliers in this market space are increasingly adopting AI, as it will help in identification and categorization of songs as per the mood and emotion. This is because content recognition in the music segment lacks expertise regarding the selection of appropriate songs as per the mood and emotion of the audience. Moreover, the adoption of AI results in the better classification of the content and further enhances audience engagement capabilities of ACR solutions.
Development of ACR-enabled TV loyalty programs:
Developing TV loyalty programs based on ACR technology help in increasing the TV program viewership. The loyalty programs also include points and rewards such as gift coupons that are attained by the users by synchronizing their screen with a program that is broadcasted. These reward points and vouchers can be redeemed to avail various offers. Also, developing such ACR enabled TV loyalty programs help in increasing the customer's engagement due to the rewards.
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