Recommendation Engine Market Report: Trends, Forecast and Competitive Analysis to 2030

Recommendation Engine Trends and Forecast

The future of the recommendation engine market looks promising with opportunities in the information technology, healthcare, retail, BFSI, and media & entertainment markets. The recommendation engine market is expected to reach an estimated $14.3 billion by 2030 with a CAGR of 22.3% from 2024 to 2030. The major drivers for this market are increasing emphasis on improving the customer experience, rising trend of digitalization, and growing demand for large volumes of data analysis.

A more than 150-page report is developed to help in your business decisions.

Recommendation Engine by Segment

The study includes a forecast for the global recommendation engine by type, organization, application, end use, and region.

Recommendation Engine Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Collaborative Filtering
• Content-Based Filtering
• Hybrid Recommendation

Recommendation Engine Market by Organization [Shipment Analysis by Value from 2018 to 2030]:

• SMEs
• Large Enterprise

Recommendation Engine Market by Application [Shipment Analysis by Value from 2018 to 2030]:

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

Recommendation Engine Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

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

Recommendation Engine Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Recommendation Engine Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies recommendation engine companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the recommendation engine companies profiled in this report include-

• Adobe
• Amazon Web Services
• Google
• Hewlett Packard Enterprise Development
• International Business Machines
• Intel
• Microsoft
• Oracle
• Salesforce.com
• SAP

Recommendation Engine Market Insights

Lucintel forecasts that personalized campaigns and customer delivery will remain the largest segment over the forecast period due to an increase in the need for improved customer service and experiences.

North America will remain the largest region over the forecast period due to the region's expanding acceptance of innovative technology and increased government backing for new technologies.

Features of the Recommendation Engine Market

Market Size Estimates: Recommendation engine market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Recommendation engine market size by type, organization, application, end use, and region in terms of value ($B).

Regional Analysis: Recommendation engine market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different type, organization, application, end use, and regions for the recommendation engine market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the recommendation engine market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the recommendation engine market size?

Answer: The global recommendation engine market is expected to reach an estimated $14.3 billion by 2030.

Q2. What is the growth forecast for recommendation engine market?

Answer: The global recommendation engine market is expected to grow with a CAGR of 22.3% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the recommendation engine market?

Answer: The major drivers for this market are increasing emphasis on improving the customer experience, rising trend of digitalization, and growing demand for large volumes of data analysis.

Q4. What are the major segments for recommendation engine market?

Answer: The future of the recommendation engine market looks promising with opportunities in the information technology, healthcare, retail, BFSI, and media & entertainment markets.

Q5. Who are the key recommendation engine market companies?

Answer: Some of the key recommendation engine companies are as follows.

• Adobe
• Amazon Web Services
• Google
• Hewlett Packard Enterprise Development
• International Business Machines
• Intel
• Microsoft
• Oracle
• Salesforce.com
• SAP

Q6. Which recommendation engine market segment will be the largest in future?

Answer: Lucintel forecasts that personalized campaigns and customer delivery will remain the largest segment over the forecast period due to an increase in the need for improved customer service and experiences.

Q7. In recommendation engine market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to the region's expanding acceptance of innovative technology and increased government backing for new technologies.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the recommendation engine market by type (collaborative filtering, content-based filtering, and hybrid recommendation), organization (SMEs and large enterprise), application (personalized campaigns and customer delivery, strategy operations and planning, and product planning and proactive asset management), end use (information technology, healthcare, retail, BFSI, media & entertainment, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?