Global Recommendation Engine Market report Overview
Each and every insight presented in the report was published by an expert group of Maximize Market Research, which is derived from primary interviews with top officials from leading companies in the domain concerned. The report’s secondary data research methodology includes deep online and offline research and discussion with expert professionals and analysts in the Recommendation Engine industry. In the report, Recommendation Engine Market reports, industry trends have been explained on the macro level, which is expected to help to find an outline market landscape and probable future issues.
Market Projection:
Recommendation Engine market is expected to be worth US$ 4.10 billion in 2022. Recommendation Engine Market is estimated to grow at a CAGR of 39.2% over the forecast period.
Recommendation Engine Market Report Scope and Research Methodology
The goal of the Recommendation Engine market report is to help consumers to gain more information and a clearer understanding of the industry. The global Recommendation Engine market growth analysis includes development trends, competitive landscape analysis, investment plan, business strategy, opportunity, and key regions development status for international markets.
- The global Recommendation Engine market overview and the analysis of several affecting elements such as drivers, restraints, and opportunities.
- Porter's Five Force Analysis and SWOT analysis are used to define, characterize, and analyze the Recommendation Engine market competition landscape, with a focus on global key players.
- Extensive analysis of the global Recommendation Engine competitive landscape
- Identification and analysis of micro and macro elements that influence and is expected to influence the Recommendation Engine market growth.
- A comprehensive list of major market players in the global Recommendation Engine industry.
- In the global Recommendation Engine market, it provides a descriptive study of demand-supply chaining.
- Statistical study of certain key economic statistics
- Figures, charts, graphs, and illustrations are used to clearly describe the Recommendation Engine market.
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Recommendation Engine Market Segmentation:
by Type
Hybrid Recommendation
Collaborative Filtering
Content-Based Filtering
The market is divided into three categories based on type: content-based filtering, collaborative filtering, and hybrid recommendation. Over the course of the projection period, the Hybrid Recommendation category is anticipated to rise at a CAGR of 6.3%. Compared to material methods and pure cooperation, hybrid approaches can yield more accurate approximations. They also address issues that are typical to recommendation systems, such as data scarcity and cold start. Hybrid recommender systems use two or more recommendation techniques to improve performance. Collaborative purification is often combined with another performance to overcome the ramp-up issue.
by End-User
BFSI
Healthcare
Retail
Transportation
Media & Entertainment
The market is divided into BFSI, Healthcare, Retail, Transportation, Media & Entertainment, and End User categories. In 2022, the Retail category accounted for 42% of the market share, the biggest share. This market uses AI-powered recommendation engines to increase revenue and client retention. They also use AI-powered reference engines. The National Retail Federation predicts that despite threats from the ongoing trade war, a volatile stock market, and the implications of the government shutdown, retail sales in the United States will increase by 3.7% to 4.6% in 2022 to exceed $3.75 trillion. Recommendation engines are heavily utilized in the retail industry, hence this growth will help the recommendation engine market.
by Deployment Mode
On-Premises
Cloud
by Application
Proactive Asset Management
Personalized Campaigns & Customer Discovery
Strategy & Operation Planning
Product Planning
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Recommendation Engine Market Key players:
1.Salesforce
2.HPE
3.AWS
4.Oracle Corporation
5.Intel
6.Google
7.IBM
8.Microsoft
9.Sentient Technologies
10.SAP
11.Fuzzy.AI
12.Infinite Analytics
13.Adobe Inc.
14.Amazon Web Services, Inc.
15.Dynamic Yield, Inc.
16.Evergage Inc.
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Key questions answered in the Recommendation Engine Market are:
- What are Recommendation Engine?
- What was the Recommendation Engine Market size in 2022?
- What is the expected Recommendation Engine Market size by the end of the forecast period?
- What are the global trends in the Recommendation Engine Market?
- What are the upcoming industry End-Use Industry and trends for the Recommendation Engine Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Recommendation Engine Market?
- How is the intervention from regulatory authority shaping the Recommendation Engine Market?
- What growth strategies are the players considering to increase their presence in Recommendation Engine?
- Who are the leading companies and what are their portfolios in Recommendation Engine Market?
- What are the major challenges that the Recommendation Engine Market could face in the future?
- Who held the largest market share in Recommendation Engine Market?
Key Offerings:
- Past Market Size and Competitive Landscape
- Past Pricing and price curve by region
- Market Size, Share, Size & Forecast by different segment
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segments with their sub-segments and region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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