DUBLIN--(BUSINESS WIRE)--The "Recommendation Engine Market by Type (Collaborative Filtering, Content-Based Filtering, and Hybrid Recommendation), Deployment Mode (Cloud and On-Premises), Technology, Application, End-User, and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The market for recommendation engine based on AI, is expected to grow from USD 801.1 million in 2017 to USD 4414.8 million by 2022, at a Compound Annual Growth Rate (CAGR) of 40.7% during the forecast period.
The growth in focus toward enhancing the customer experience is a major factor driving the growth of the recommendation engine market. Moreover, enhancing customer experience is important to achieve customer engagement and retention, thereby achieving higher sales and Return on Investment (RoI). However, designing of targeted campings, as well as relevant product and content recommendations, could help organizations engage more customers.
Hence, analysis of customer data here plays a vital role to understand the customer behavior and preferences. Furthermore, to analyze a large volume of data and automate the manual and tedious process of designing recommendations, enterprises need to design and lay out a plan of action. This could be accomplished by appropriate implementation of AI recommendation engine solutions into their operations.
Further, concerns related to infrastructure compatibility is expected to be a major restraint for the growth of recommendation engine market. As technological compatibility is linked to proper implementation of AI-based recommendation engines, improper implementation could lead to damages in the working mechanism of AI recommendation engine software and solutions.
The major vendors in the global recommendation engine market based on AI, are IBM (US), SAP (Germany), Salesforce (US), HPE (US), Oracle (US), Google (US), Microsoft (US), Intel (US), AWS (US), and Sentient Technologies (US).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 AI Recommendation Engine Market, By Type
7 Market, By Technology
8 AI Recommendation Engine Market, By Application
9 AI Recommendation Engine Market, By Deployment Mode
10 AI Recommendation Engine Market, By End-User
11 AI Recommendation Engine Market, By Region
12 Competitive Landscape
13 Company Profiles
- Infinite Analytics
- Sentient Technologies
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