Recommendation Engine Market 2020-2024 | Use of Hybrid Recommendation System to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Mar 5, 2020--
Technavio has been monitoring the recommendation engine market and it is poised to grow by USD 3.57 bn during 2020-2024, progressing at a CAGR of almost 30% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Recommendation Engine Market 2020-2024 (Graphic: Business Wire)
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. International Business Machines Corp., Kibo Software Inc., Qubit Digital Ltd., Salesforce.com Inc. and SAP SE are some of the major market participants. Although the use of hybrid recommendation system will offer immense growth opportunities, issues related to accuracy in data prediction will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Use of hybrid recommendation system has been instrumental in driving the growth of the market. However, issues related to accuracy in data prediction might hamper market growth. Request a free sample report
Recommendation Engine Market 2020-2024: Segmentation
Recommendation Engine Market is segmented as below:
- Media and Entertainment
- Travel and Tourism
- North America
- South America
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40770
Recommendation Engine Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our recommendation engine market report covers the following areas:
- Recommendation Engine Market Size
- Recommendation Engine Market Trends
- Recommendation Engine Market Industry Analysis
This study identifies implementation of AI in recommendation engines as one of the prime reasons driving the recommendation engine market growth during the next few years.
Recommendation Engine Market 2020-2024: Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the recommendation engine market, including some of the vendors such as International Business Machines Corp., Kibo Software Inc., Qubit Digital Ltd., Salesforce.com Inc. and SAP SE. Backed with competitive intelligence and benchmarking, our research reports on the recommendation engine market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Recommendation Engine Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist recommendation engine market growth during the next five years
- Estimation of the recommendation engine market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behaviour
- The growth of the recommendation engine market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of recommendation engine market vendors
Table of Content
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- 2.1 Preface
- 2.2 Preface
- 2.3 Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market size
- Market Outlook
- Market sizing 2019
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY END-USER
- Market segmentation by end-user
- Comparison by end-user
- Media and entertainment - Market size and forecast 2019-2024
- Retail - Market size and forecast 2019-2024
- Travel and tourism - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by end-user
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Growing demand for personalized recommendations
- Raising funds through crowdfunding platforms by recommendation engine start-ups
- Implementation of AI in recommendation engines
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Adobe Inc.
- Amazon Web Services, Inc.
- Dynamic Yield, Inc.
- Evergage Inc.
- Google LLC
- International Business Machines Corp.
- Kibo Software Inc.
- Qubit Digital Ltd.
- Salesforce.com Inc.
- SAP SE
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE: Technavio Research
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