Growing usage of AI in recommendation engines is expected to drive global market revenue growth

PUNE, MAHARASHTRA, INDIA, September 1, 2022 /EINPresswire.com/ -- The global content recommendation engine market size is expected to reach USD xx billion in 2028 and register a revenue CAGR of XX% during the forecast period. Key factors such as increasing e-commerce adoption, rapid digitalization, and growing awareness about importance of content recommendation engines are expected to drive global market growth during the forecast period.

A content recommendation engine is a software solution that uses artificial intelligence and machine learning for analyzing data to provide more personalized user experiences on-site or app. It decides which content to recommend to individual users. The engine looks through past online behavior of the user, including their likes, dislikes, and other key information to generate personalized content. Content recommendation engine involves four steps: data collection, data storage, data analysis, and data filtering. Some content recommendation engines feed content to the webpages the user visits and automatically generates personalized content as the user scroll through the page.

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Factors such as rising demand for cutting-edge technology, rising need for deploying development services, implementation services, and support services, and rising investments in research and development activities are expected to boost global market growth.

However, factors such as shortage of trained professionals, lack of infrastructure, and high possibility of data breaching are expected to hamper overall market growth over the forecast period.

Retail and Consumer Goods Segment to Account for Significant Revenue Share:
The retail and consumer goods segment is expected to account for significant revenue share during the forecast period owing to rapidly growing retail and consumer goods, increasing demand for customized content recommendation engines, and rising penetration of internet and smartphones.

Services Segment To Register Robust Revenue CAGR:
The services segment is expected to register robust revenue CAGR over the forecast period. Factors such as increasing need for deploying development services, implementation services, training services, and consulting services, growing awareness about content recommendation engines, and high focus on improving user experience are expected to drive segment revenue growth.

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Asia Pacific Market to Register Rapid Revenue Growth:
Asia Pacific market is expected to register rapid revenue growth during the forecast period owing to rising adoption of content recommendation engines across various sectors, increasing e-commerce penetration and online shopping activities, presence of key players, and growing digitalization.

Content Recommendation Engine Market By Company:
• Amazon Web Services
• Boomtrain
• Certona
• Curata
• Cxense
• Dynamic Yield
• IBM
• Kibo Commerce
• Outbrain
• Revcontent
• Taboola
• ThinkAnalytics

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The global content recommendation engine market is segmented based on type, application, and region:
Content Recommendation Engine Market Segment by Type:
• Solutions
• Services

Content Recommendation Engine Market Segment by Application:
• Media
• Entertainment and Gaming
• Retail and Consumer Goods
• Hospitality
• Others

Content Recommendation Engine Market Segment by Region:
• North America
o United States
o Canada
• Europe
o Germany
o France
o UK
o Italy
o Russia
o Nordic Countries
• Asia Pacific
o China
o Japan
o South Korea
o Southeast Asia
o India
o Australia
o Rest of Asia
• Latin America
o Mexico
o Brazil
o Rest of Latin America
• Middle East & Africa
o Turkey
o Saudi Arabia
o UAE
o Rest of MEA

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Susan W
Xcellent Insights LLP
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