The content recommendation engine market is projected to grow from USD 1.16 billion in 2017 to USD 4.95 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 33.7%
NEW YORK, March 27, 2018 /PRNewswire/ -- Increasing focus on enhancing customer experience and rapid digitalization are factors that are expected to drive the content recommendation engine market.
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The content recommendation engine market is projected to grow from USD 1.16 billion in 2017 to USD 4.95 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 33.7% during the forecast period. Factors, such as increased focus on enhancing customer experience, rapid digitalization, and need for analyzing large volumes of customer data are expected to drive the content recommendation engine market. Protecting sensitive information of customers is a key factor restraining the growth of the market.
Based on component, the solution segment is estimated to lead the content recommendation engine market in 2017.
Based on component, the solution segment is estimated to lead the content recommendation engine market in 2017, as enterprises use it as a targeted marketing tool in their email campaigns and on their websites to enhance the ROI through effective customer engagement. Enterprises are increasingly deploying content recommendation system due to various benefits, such as enhanced customer satisfaction through the personalized online shopping experience.
Based on vertical, the E-commerce segment is estimated to lead the content recommendation engine market in 2017.
Based on vertical, the E-commerce segment is estimated to lead the content recommendation engine market in 2017. Increasing Internet penetration, the rise in the number of smartphones users, and the explosion of digital data have enabled organizations in E-commerce vertical to adopt content recommendation engine and enhance user experience.
The Asia Pacific content recommendation engine market is expected to grow at the highest CAGR during the forecast period.
The content recommendation engine market has been studied for North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.The content recommendation engine is being adopted in the Asia Pacific region.
Factors such as the rise of Over the Top (OTT) players and rapid digitization are expected to lead to the increasing deployment of content recommendation engine platforms in the Asia Pacific region. The demand for content recommendation engine solution in small and medium enterprises in the Asia Pacific region is high.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the content recommendation engine marketplace.
• By Company Type: Tier 1: 14%, Tier 2: 43%, and Tier 3: 43%
• By Designation: C-Level: 37%, Director Level: 13%, and Others: 50%
• By Region: North America: 37%, Europe: 25%, Asia Pacific: 25%, and Rest of the World: 13%
Key vendors profiled in the report are:
1. Amazon Web Services (US)
2. Boomtrain (US)
3. Certona (US)
4. Curata (US)
5. Cxense (Norway)
6. Dynamic Yield (US)
7. IBM (US)
8. Kibo Commerce (US)
9. Outbrain (US)
10. Revcontent (US)
11. Taboola (US)
12. ThinkAnalytics (UK)
Research Coverage
The content recommendation engine market has been segmented on the basis of component, filtering approach, organization size, vertical, and region.Based on component, the content recommendation engine market has been segmented into solution and service.
Based on filtering approach, the market has been segmented into collaborative filtering, content-based filtering, and hybrid filtering.The content recommendation engine market has been segmented based on organization size into large enterprises and small and medium enterprises.
Based on vertical, the market has been segmented into E-commerce, media, entertainment & gaming, retail & consumer goods, hospitality, IT & telecommunication, BFSI, education & training, healthcare & pharmaceutical, and others (which includes manufacturing, automotive, and supply chain management). The content recommendation engine market has been studied for North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Key Benefits of Buying the Report:
The report will help market leaders and new entrants in the content recommendation engine market in the following ways:
The report will help market leaders/new entrants in this market by providing them the closest approximations of revenues of the content recommendation engine market and its subsegments.This report will also help stakeholders better understand the competitor landscape, gain more insights to position their businesses better, and implement suitable go-to-market strategies.
The report will help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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