Recommendation Engine Market Size – Industry Analysis, Share, Growth, Trends, Top Key Players and Regional Forecast 2021-2027

Market Study Report recently added a new title on 2021-2027 Global Recommendation Engine Market Report from its database. The report provides study with in-depth overview, describing about the Product, Size, Share, Industry Scope and elaborates market outlook and status to 2027.

Worldwide Recommendation Engine Market Size is projected to expand at 33% CAGR over the analysis timeframe from 2021 to 2027, taking the industry valuation of USD 1.77 Billion in 2020 to USD 13.03 Billion by the year 2027.

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A recommendation engine is data filtering tool which uses machine learning algorithms for recommending the relevant items to user. The global Recommendation Engine market is being driven by growing adoption of digital technologies among organizations and increase in need to enhance the customer experience.

Furthermore, rise in technological advancement in data analytics, and rise in sales from e-commerce platforms will provide new opportunities for the global Recommendation Engine industry. For instance, according to statista, there has been rise in spending on digital transformation technologies and services year on year as in year 2019, the spending reaches to USD 1.18 trillion which increases to USD 1.31 trillion in year 2020 and it is projected to increase to USD 2.3 by year 2030. As a result, rise in spending on digital transformation, which will serve as a catalyst for the Recommendation Engine industry in the future. However, increase in concerns over the customers personal information, may impede market growth over the forecast period of 2021-2027.

Major Recommendation Engine market player included in this report are:             

  • IBM
  • Google
  • AWS
  • Microsoft
  • Salesforce
  • Sentient Technologies
  • HPE
  • Oracle
  • Intel
  • SAP

Asia Pacific, North America, Europe, Latin America, and Rest of the World are the key regions considered for the regional analysis of global recommendation engine market. The rapid adoption of advanced technologies and rise in government support for emerging technologies in makes the North America the leading region across the world in terms of market share. Whereas Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to rising penetration of e-commerce, an upsurge in online shopping transactions, and an increase in the number of Over the Top (OTT) in the region.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Product Type:

  • Collaborative Filtering
  • Content-based Filtering
  • Hybrid Recommendation

By Deployment:

  • On-premise
  • Cloud

By Application:

  • Personalized Campaigns and Customer Delivery
  • Strategy Operations and Planning
  • Product Planning and Proactive Asset Management

By organization:

  • SMEs
  • Large enterprises

By End Use:

  • Information Technology
  • Healthcare
  • Retail
  • BFSI
  • Media & Entertainment

Global Recommendation Engine Market: regional analysis

Geographically, this report is segmented into several key countries, with market size, growth rate, import and export of Recommendation Engine market in these countries, which covering North America, U.S., Canada, Europe, UK, Germany, France, Spain, Italy, ROE, Asia Pacific, China, India, Japan, Australia, South Korea, RoAPAC, Latin America, Brazil, Mexico and Rest of the World.

Furthermore, years considered for the study are as follows:

  • Historical year – 2018, 2019
  • Base year – 2020
  • Forecast period – 2021 to 2027.

Some of the major questions addressed in the report are:

  • What are the crucial factors driving the market?
  • What shall be the expected growth acceleration and rate of the market during the forecasted timeframe?
  • What was the market size value of the Recommendation Engine in 2020?
  • What shall be the Recommendation Engine Market size by 2027?
  • Which region shall account for the largest market share of the Recommendation Engine Industry?
  • What are the market threats and opportunities considered by the vendors in the Recommendation Engine Market?

Questions? Get them answered via https://www.marketstudyreport.com/enquiry-before-buying/4219757/?utm_source=Marketwatch.com/&utm_medium=SP before taking a buying decision on Recommendation Engine Market Report

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