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Recommendation Engine Market Analysis Highlights the Impact of COVID-19 (2020-2024) | Growing Demand for Personalized Recommendations to Boost the Market Growth | Technavio

LONDON--(BUSINESS WIRE)--Jul 27, 2020--

Technavio has been monitoring the recommendation engine market and it is poised to grow by USD 3.57 billion 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.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200727005364/en/

Technavio has announced its latest market research report titled Global Recommendation Engine Market 2020-2024 (Graphic: Business Wire)

Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts

Frequently Asked Questions-

  • Based on segmentation by end-user, which is the leading segment in the market?
  • The media and entertainment segment are expected to be the leading segment in the global market during the forecast period.
  • What is a major trend in the market?
  • The implementation of AI in recommendation engines is a major growth factor for the market.
  • At what rate is the market projected to grow?
  • The market will grow at a CAGR of almost 30%.
  • Who are the top players in the market?
  • 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., and SAP SE are some of the major market participants.
  • What is the key market driver?
  • Growing demand for personalized recommendations is the major factor driving the market.
  • How big is the North American market?
  • The North America region will contribute 38% of the market share.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 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., and SAP SE are some of the major 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.

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Growing demand for personalized recommendations has been instrumental in driving the growth of the market.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Recommendation Engine Market 2020-2024: Segmentation

Recommendation Engine Market is segmented as below:

  • End-user
    • Media and Entertainment
    • Retail
    • Travel and Tourism
    • Others
  • Geographic Landscape
    • APAC
    • Europe
    • MEA
    • 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. The recommendation engine market report covers the following areas:

  • Recommendation Engine Market Size
  • Recommendation Engine Market Trends
  • Recommendation Engine Market Analysis

This study identifies the implementation of AI in recommendation engines as one of the prime reasons driving the recommendation engine market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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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 behavior
  • 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 Contents:

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 startups
  • Implementation of AI in recommendation engines

PART 12: VENDOR LANDSCAPE

  • Overview
  • 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

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200727005364/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:[email protected]

Website:www.technavio.com/

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INDUSTRY KEYWORD: RETAIL OTHER RETAIL

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 07/27/2020 01:00 PM/DISC: 07/27/2020 01:00 PM

http://www.businesswire.com/news/home/20200727005364/en

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