Automatic Content Recognition Market Analysis
The automatic content recognition market is set to witness a spend growth of more than USD 3 billion with spend momentum to accelerate at a CAGR of nearly 24% between 2019-2024. In the backdrop of the proliferation of the e-commerce industry, buyers from the retail sector in particular, are vying to boost their website traffic by churning engagement among their target customer groups. To achieve this, they are partnering with online marketing service providers who have integrated automatic content recognition techniques to improve the response rate of their online advertising campaigns and to improve buyers' ROI. This is acting as one of the primary growth drivers in the automatic content recognition market. To improve business process efficiency and strengthen relationships with customers, most of the organizations are creating application portfolios integrated with automatic content recognition. This is contributing to spend growth in the automatic content recognition market.
Top Spending Regions in the Automatic Content Recognition Market
The increase in demand from the BFSI, healthcare, and the gaming industries is driving spend momentum in the automatic content recognition market across the key geographies during the forecast period.
North America
The concentration of healthcare companies and their growing requirements to handle large amounts of real-time data is contributing to the demand growth in the automatic content recognition market in this region. The steady growth of the gaming industry in the US is driving the demand for automatic content recognition in North America as automatic content recognition enhances users' interactivity within video games.
APAC
APAC is home to the world's largest gaming market. The presence of a large number of media companies, advertisers, and gaming companies are creating an exponential demand for automatic recognition content in this region.
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What are the Key Price Trends in this Market?
- Automatic content recognition service providers are tackling a substantial increase in their technology expense as they are adopting technologies such as artificial intelligence and machine learning in the software. Hardware costs, software costs, Internet charges, server-related costs, and expenses related to storage devices and network equipment are some of the key components of service providers' technology expenditure.
- Service providers are investing heavily in the training and development of employees owing to a rapidly changing technology that is changing the dynamics of this market.
- Most of the service providers are based in APAC, while the demand for their services comes from North America and Europe. The high currency fluctuations of the dollar and the euro against the currencies in APAC are impacting their operating costs
Download the free sample of this report to know what the key automatic content recognition procurement best practices that you must adopt to address price dynamism in this market.
Insights Offered in this Automatic Content Recognition Market Report
- Global and regional spend potential for the automatic content recognition market for the period of 2019-2024
- Supplier relationship management practices in the automatic content recognition market
- Supplier margins and selection criteria in the automatic content recognition market
- Top automatic content recognition service providers and their cost structures
- Top automatic content recognition service providers in the US and their cost structures
- Automatic content recognition market spend analysis in the US
- Automatic content recognition price trends, and forecasts
- Cost drivers influencing the automatic content recognition prices
Insights into Automatic Content Recognition Supply Market
- APAC will have a high supply influence due to factors such as a stable IT infrastructure, low corporate taxes and interest rates, the availability of specialized skilled labor at low costs, and flexibility in terms of the availability of employees speaking global languages.
- Increasing fragmentation of the supply market owing to low entry barriers and a subsequent increase in the number of freelancers that offer automatic content recognition services will reduce the profit margins of automatic content recognition service providers
- It has been that service providers are adopting horizontal integration strategies by acquiring and collaborating with other specialized or full-service agencies to get access to the latest technologies, improve their operations, enhance their capabilities, and expand their automatic content recognition portfolio in various regions.
Insights into Some of the Leading Automatic Content Recognition Service Providers
The supply market dynamics hint at a substantial hike in service providers' OPEX which will drive buyer's procurement spend. Keeping such dynamics in mind, strategic selection of suppliers and maintaining an effective supplier relationship management are observed to facilitate buyers with optimized procurement expenditure and better category management in the automatic content recognition market. This automatic content recognition market procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies for the top automatic content recognition suppliers. The top automatic content recognition service providers highlighted in this report include:
- Nielsen Holdings Plc
- Kantar
- Audible Magic Corp.
- DIGIMARC Corp.
- Apple Inc.
- mufin GmbH
Criteria to select service providers in this dynamic automatic content recognition market is subject to change based on the day-to-day market outlook. Get a free demo of our procurement platform to gain immediate access into real-time insights to the changing service providers selection criteria.
