Recommendation Engine Market Trend Report & Custom Market Research Report 2022-2027

in recommendation •  3 years ago 

According to the latest report by IMARC Group, titled “Recommendation Engine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027. The global recommendation engine market reached a value of US$ 2.7 Billion in 2021. A recommendation engine is a software that uses machine learning (ML) algorithms to recommend products or pertinent information to customers based on data analysis. It works by finding changes in consumer behavior and collecting them to analyze and recommend products or services. Apart from this, these services are widely utilized by numerous enterprises for web content recommendation. Since their deployment aids sellers in significantly boosting their sales, these services are gaining widespread prominence among the masses across multiple industrial verticals.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Request for a PDF sample of this report: https://www.imarcgroup.com/recommendation-engine-market/requestsample

The global market is primarily driven by rapid digitization across numerous industries. Moreover, the increasing preference for hybrid recommendation engines is creating a positive outlook for the market. For instance, Netflix, Inc., an American over-the-top (OTT) media service and original programming production company, uses a hybrid recommendation engine to gather insights regarding their viewers’ preferences and recommends related content for improved customer experience. Additionally, continual technological advancements in the market and significant expansion in the e-commerce sector are also acting as major growth-inducing factors Looking forward, IMARC Group expects the market to reach US$ 16.3 Billion by 2027, exhibiting a CAGR of 35.61% during 2022-2027.

Competitive Landscape:

  • Adobe Inc.
  • com Inc.
  • Dynamic Yield (McDonald's)
  • Google LLC (Alphabet Inc.)
  • Hewlett Packard Enterprise Development LP
  • Intel Corporation
  • International Business Machines Corporation
  • Kibo Software Inc.
  • Microsoft Corporation
  • Oracle Corporation
  • Recolize GmbH
  • com Inc.
  • SAP SE.

Key Market Segmentation:

Breakup by Type:
  • Collaborative Filtering
  • Content-based Filtering
  • Hybrid Recommendation Systems
  • Others
Breakup by Technology:
  • Context Aware
  • Geospatial Aware
Breakup by Deployment Mode:
  • On-premises
  • Cloud-based
Breakup by Application:
  • Strategy and Operations Planning
  • Product Planning and Proactive Asset Management
  • Personalized Campaigns and Customer Discovery
Breakup by End User:
  • IT and Telecommunication
  • BFSI
  • Retail
  • Media and Entertainment
  • Healthcare
  • Others
Breakup by Region:
  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
Explore full report with TOC & List of Figures: https://bit.ly/3qfySRs

We are updating our reports, If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.

Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • The Impact of COVID-19 on the Global Market
  • Value Chain Analysis
  • Structure of the Global Market
  • Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us

IMARC Group

30 N Gould St Ste R

Sheridan, WY 82801 USA - Wyoming

Email: [email protected]

Tel No:(D) +91 120 433 0800

Americas: - +1 631 791 1145 | Africa and Europe: - +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!