Enjoy complimentary customisation on priority with our Enterprise License!
The recommendation engine market share is expected to increase by USD 402.9 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 25.8%.
The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (media and entertainment, travel and tourism, and others) and geography (North America, Europe, APAC, South America, and Middle East and Africa).
The recommendation engine market report also offers information on several market vendors, including Adobe Inc., Alphabet Inc., Amazon.com Inc., Cloudera Inc., Curata Inc., Hewlett Packard Enterprise Co., Intel Corp., International Business Machines Corp., Kibo Software Inc., McDonald Corp., Microsoft Corp., Muvi LLC, Nosto Solutions Oy, Oracle Corp., Outbrain Inc., Piano Software Inc., Qubit Digital Ltd., Recombee sro, Salesforce.com Inc., and SAP SE among others.
Adobe Inc. - The company is publicly held and headquartered in the US. It is a global company generating USD 15,785 million in revenues and has around 25,988 employees. Its revenue from the global market contributes to its overall revenues and other offerings, but it is not a key revenue stream for the company. The company offers a recommendation engine that uses data filtering algorithms to suggest content, offers and products based on individual or audience profiles.
Get the Machine Tool Market Size Forecast by Download the Free Report Sample
Technavio categorizes the global market as a part of the global application software market. Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the recommendation engine market during the forecast period.
The rise of digitalization is notably driving market growth, although factors such as issues related to accuracy in data prediction may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Recommendation Engine Market Driver
The rise of digitalization is one of the key drivers supporting market growth. Digitalization provides users with improved access to resources. Companies are utilizing recommendation engines to provide relevant content to users. At present, most customers are using online portals to get information, as well as purchase products. For example, people are utilizing the amazon.com website to purchase products such as clothes, books, and electronic devices. To enhance the capabilities of the web search engine, AWS, a subsidiary of Amazon, launched Amazon Personalize, a content recommendation engine software, which allows users to create private and customized personalization recommendations for products. Through this solution, the company aims to increase its customer base and enhance user experience. Such instances will drive market growth during the forecast period.
Key Recommendation Engine Market Trend
The growing demand for personalized recommendations is one of the key market trends that is contributing to the market growth. A recommendation engine is an analytical tool used by companies to generate and provide specific recommendations to users. For this, it utilizes user interactions with the engine. It plays a crucial role in generating revenue and increasing the customer base. At present, most customers increasingly prefer online portals for purchasing products. To provide an enhanced user experience, many companies in the e-commerce, retail, media and entertainment, and other sectors are implementing personalized recommendation engines. Thus, the growing demand for personalized recommendations will have a positive impact on the growth of the global market during the forecast period.
Key Recommendation Engine Market Challenge
Issues related to accuracy in data prediction is one of the factors hindering the market growth. For instance, in the media and entertainment sector, it is difficult to predict user behaviour for content such as movies and music as users may have different tastes and preferences for such content. Their judgments cannot be used to recommend a movie to other users. Similarly, providing music suggestions through a recommendation engine is difficult as users listen to a particular genre of music depending on their mood. Significantly, the cold start is one of the major problems adversely affecting the accurate prediction of content and products through recommendation engines. The entry of new items or users can be responsible for the cold start. These factors will limit the market growth during the forecast period.
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Our In-house experts produce extensive information on the value chain and parent market of the recommendation engine market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.
Get a glance at the market share of various regions Request a PDF sample now!
31% of the market's growth will originate from North America during the forecast period. The US is the key market for recommendation engines in North America. Market growth in this region will be slower than the growth of the market in APAC.
The increasing adoption of OTT services will facilitate market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 positively impacted the market in North America because of the high use of the OTT platform. However, in 2021, after the onset of the large-scale vaccination drives, governments in North America lifted the lockdown and travel restrictions from the region, which increased the demand for tourism and travel. Due to the resumption of operations at all retail stores, there will be an increase in the demand for recommendation engines in this region during the forecast period leading to market growth.
To gain insights on the market contribution of various segments Request PDF sample
The market share growth by the media and entertainment segment will be significant during the forecast period. Recommendation engines play a crucial role in the media and entertainment segment in providing accurate and relevant recommendations about music and video content to users. Some companies are also integrating advanced technologies, such as AL and ML, to enhance the capabilities of recommendation engines. One of the major reasons for the increasing demand for recommendation engines is the growing number of online platforms for content such as articles, news, and others. Online platforms enable companies to provide the most demanding and relevant content to users. Thus, media and entertainment companies are continuously launching online platforms to enhance user experience and increase their customer base. These factors will drive segment growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.
|
Recommendation Engine Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
120 |
|
Base year |
2021 |
|
Forecast period |
2022-2026 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 25.8% |
|
Market growth 2022-2026 |
USD 402.9 million |
|
Market structure |
Fragmented |
|
YoY growth (%) |
25.62 |
|
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
|
Performing market contribution |
North America at 31% |
|
Key consumer countries |
US, China, India, Japan, and Germany |
|
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
|
Key companies profiled |
Adobe Inc., Alphabet Inc., Amazon.com Inc., Cloudera Inc., Curata Inc., Hewlett Packard Enterprise Co., Intel Corp., International Business Machines Corp., Kibo Software Inc., McDonald Corp., Microsoft Corp., Muvi LLC, Nosto Solutions Oy, Oracle Corp., Outbrain Inc., Piano Software Inc., Qubit Digital Ltd., Recombee sro, Salesforce.com Inc., and SAP SE |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
***1. Executive Summary
**1.1 Market overview
*Exhibit 01: Executive Summary – Chart on Market Overview
*Exhibit 02: Executive Summary – Data Table on Market Overview
*Exhibit 03: Executive Summary – Chart on Global Market Characteristics
*Exhibit 04: Executive Summary – Chart on Market by Geography
*Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
*Exhibit 06: Executive Summary – Chart on Incremental Growth
*Exhibit 07: Executive Summary – Data Table on Incremental Growth
*Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
***2. Market Landscape
**2.1 Market ecosystem
*Exhibit 09: Parent market
*Exhibit 10: Market Characteristics
***3. Market Sizing
**3.1 Market definition
*Exhibit 11: Offerings of vendors included in the market definition
**3.2 Market segment analysis
*Exhibit 12: Market segments
**3.3 Market size 2021
**3.4 Market outlook: Forecast for 2021-2026
*Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
*Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
*Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
*Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
***4. Five Forces Analysis
**4.1 Five Forces Summary
*Exhibit 17: Five forces analysis - Comparison between2021 and 2026
**4.2 Bargaining power of buyers
*Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
**4.3 Bargaining power of suppliers
*Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
**4.4 Threat of new entrants
*Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
**4.5 Threat of substitutes
*Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
**4.6 Threat of rivalry
*Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
**4.7 Market condition
*Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
***5. Market Segmentation by End-user
**5.1 Market segments
*Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
*Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)
**5.2 Comparison by End-user
*Exhibit 26: Chart on Comparison by End-user
*Exhibit 27: Data Table on Comparison by End-user
**5.3 Media and entertainment - Market size and forecast 2021-2026
*Exhibit 28: Chart on Media and entertainment - Market size and forecast 2021-2026 ($ million)
*Exhibit 29: Data Table on Media and entertainment - Market size and forecast 2021-2026 ($ million)
*Exhibit 30: Chart on Media and entertainment - Year-over-year growth 2021-2026 (%)
*Exhibit 31: Data Table on Media and entertainment - Year-over-year growth 2021-2026 (%)
**5.4 Retail - Market size and forecast 2021-2026
*Exhibit 32: Chart on Retail - Market size and forecast 2021-2026 ($ million)
*Exhibit 33: Data Table on Retail - Market size and forecast 2021-2026 ($ million)
*Exhibit 34: Chart on Retail - Year-over-year growth 2021-2026 (%)
*Exhibit 35: Data Table on Retail - Year-over-year growth 2021-2026 (%)
**5.5 Travel and tourism - Market size and forecast 2021-2026
*Exhibit 36: Chart on Travel and tourism - Market size and forecast 2021-2026 ($ million)
*Exhibit 37: Data Table on Travel and tourism - Market size and forecast 2021-2026 ($ million)
*Exhibit 38: Chart on Travel and tourism - Year-over-year growth 2021-2026 (%)
*Exhibit 39: Data Table on Travel and tourism - Year-over-year growth 2021-2026 (%)
**5.6 Others - Market size and forecast 2021-2026
*Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ million)
*Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ million)
*Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
*Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)
**5.7 Market opportunity by End-user
*Exhibit 44: Market opportunity by End-user ($ million)
***6. Customer landscape
*Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
**6.1 Customer landscape overview
*Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
*** 7. Geographic Landscape
**7.1 Geographic segmentation
*Exhibit 46: Chart on Market share by geography 2021-2026 (%)
*Exhibit 47: Data Table on Market share by geography 2021-2026 (%)
**7.2 Geographic comparison
*Exhibit 48: Chart on Geographic comparison
*Exhibit 49: Data Table on Geographic comparison
**7.3 North America - Market size and forecast 2021-2026
*Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
*Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
*Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
*Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
**7.4 Europe- Market size and forecast 2021-2026
*Exhibit 54: Chart on Europe- Market size and forecast 2021-2026 ($ million)
*Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
*Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
*Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)
**7.5 APAC - Market size and forecast 2021-2026
*Exhibit 58: Chart on APAC - Market size and forecast 2021-2026 ($ million)
*Exhibit 59: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
*Exhibit 60: Chart on APAC - Year-over-year growth 2021-2026 (%)
*Exhibit 61: Data Table on APAC - Year-over-year growth 2021-2026 (%)
**7.6 South America - Market size and forecast 2021-2026
*Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
*Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
*Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
*Exhibit 64: Data Table on South America - Year-over-year growth 2021-2026 (%)
**7.7 Middle East and Africa - Market size and forecast 2021-2026
*Exhibit 65: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
*Exhibit 66: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
*Exhibit 67: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
*Exhibit 68: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
**7.8 US - Market size and forecast 2021-2026
*Exhibit 69: Chart on US- Market size and forecast 2021-2026 ($ million)
*Exhibit 70: Data Table on US- Market size and forecast 2021-2026 ($ million)
*Exhibit 71: Chart on US- Year-over-year growth 2021-2026 (%)
*Exhibit 72: Data Table on US- Year-over-year growth 2021-2026 (%)
**7.9 China - Market size and forecast 2021-2026
*Exhibit 73: Chart on China - Market size and forecast 2021-2026 ($ million)
*Exhibit 74: Data Table on China - Market size and forecast 2021-2026 ($ million)
*Exhibit 75: Chart on China - Year-over-year growth 2021-2026 (%)
*Exhibit 76: Data Table on China - Year-over-year growth 2021-2026 (%)
**7.10 Germany - Market size and forecast 2021-2026
*Exhibit 77: Chart on Germany - Market size and forecast 2021-2026 ($ million)
*Exhibit 78: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
*Exhibit 79: Chart on Germany - Year-over-year growth 2021-2026 (%)
*Exhibit 80: Data Table on Germany - Year-over-year growth 2021-2026 (%)
**7.11 India- Market size and forecast 2021-2026
*Exhibit 81: Chart on India- Market size and forecast 2021-2026 ($ million)
*Exhibit 82: Data Table on India- Market size and forecast 2021-2026 ($ million)
*Exhibit 83: Chart on India- Year-over-year growth 2021-2026 (%)
*Exhibit 84: Data Table on India- Year-over-year growth 2021-2026 (%)
**7.12 Japan - Market size and forecast 2021-2026
*Exhibit 85: Chart on Japan - Market size and forecast 2021-2026 ($ million)
*Exhibit 86: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
*Exhibit 87: Chart on Japan - Year-over-year growth 2021-2026 (%)
*Exhibit 88: Data Table on Japan - Year-over-year growth 2021-2026 (%)
**7.13 Market opportunity by geography
*Exhibit 89: Market opportunity by geography ($ million)
***8. Drivers, Challenges, and Trends
**8.1 Market drivers
*8.1.1 Rise of digitalization
*8.1.2 Rise in the use of hybrid recommendation system
*8.1.3 Focus on improving customer satisfaction
**8.2 Market challenges
*8.2.1 Issues related to accuracy in data prediction
*8.2.2 Lack of data
*8.2.3 Lack of technical expertise
**8.3 Impact of drivers and challenges
*Exhibit 90: Impact of drivers and challenges in 2021 and 2026
**8.4 Market trends
*8.4.1 Growing demand for personalized recommendations
*8.4.2 Raising funds through crowdfunding platforms by recommendation engine startups
*8.4.3 Implementation of AI in recommendation engines
***9. Vendor Landscape
**9.1 Overview
**9.2 Vendor landscape
*Exhibit 91: Overview on Criticality of inputs and Factors of differentiation
**9.3 Landscape disruption
*Exhibit 92: Overview on factors of disruption
**9.4 Industry risks
*Exhibit 93: Impact of key risks on business
***10. Vendor Analysis
**10.1 Vendors covered
*Exhibit 94: Vendors covered
**10.2 Market positioning of vendors
*Exhibit 95: Matrix on vendor position and classification
*10.3 Adobe Inc.
*Exhibit 96: Adobe Inc. - Overview
*Exhibit 97: Adobe Inc. - Business segments
*Exhibit 98: Adobe Inc. - Key news
*Exhibit 99: Adobe Inc. - Key offerings
*Exhibit 100: Adobe Inc. - Segment focus
**10.4 Alphabet Inc.
*Exhibit 101: Alphabet Inc. - Overview
*Exhibit 102: Alphabet Inc. - Business segments
*Exhibit 103: Alphabet Inc. - Key news
*Exhibit 104: Alphabet Inc. - Key offerings
*Exhibit 105: Alphabet Inc. - Segment focus
*10.5 Amazon.com Inc.
*Exhibit 106: Amazon.com Inc. - Overview
*Exhibit 107: Amazon.com Inc. - Business segments
*Exhibit 108: Amazon.com Inc. - Key news
*Exhibit 109: Amazon.com Inc. - Key offerings
*Exhibit 110: Amazon.com Inc. - Segment focus
**10.6 Cloudera Inc.
*Exhibit 111: Cloudera Inc. - Overview
*Exhibit 112: Cloudera Inc. - Business segments
*Exhibit 113: Cloudera Inc. - Key offerings
*Exhibit 114: Cloudera Inc. - Segment focus
**10.7 Curata Inc.
*Exhibit 115: Curata Inc. - Overview
*Exhibit 116: Curata Inc. - Product / Service
*Exhibit 117: Curata Inc. - Key offerings
**10.8 Hewlett Packard Enterprise Co.
*Exhibit 118: Hewlett Packard Enterprise Co. - Overview
*Exhibit 119: Hewlett Packard Enterprise Co. - Business segments
*Exhibit 120: Hewlett Packard Enterprise Co. - Key news
*Exhibit 121: Hewlett Packard Enterprise Co. - Key offerings
*Exhibit 122: Hewlett Packard Enterprise Co. - Segment focus
**10.9 Intel Corp.
*Exhibit 123: Intel Corp. - Overview
*Exhibit 124: Intel Corp. - Business segments
*Exhibit 125: Intel Corp. - Key news
*Exhibit 126: Intel Corp. - Key offerings
*Exhibit 127: Intel Corp. - Segment focus
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Get the report (PDF) sent to your email within minutes.
