DUBLIN, Jan. 24, 2022 /PRNewswire/ — The “Global Recommendation Engine Market Size, Share & Trends Analysis Report by Type (Collaborative Filtering, Hybrid Recommendation), by Deployment, by Application, by Organization, by End-use, by Region, and Segment Forecasts, 2021-2028” report has been added to ResearchAndMarkets.com’s offering.

The global recommendation engine market size is expected to reach USD 17.30 billion by 2028. The market is expected to expand at a CAGR of 33.0% from 2021 to 2028.

  • In terms of application, the personalized campaigns and customer delivery segment accounted for the largest revenue share in 2020 and is expected to retain its lead over the forecast period. This can be attributed to the rising need to provide better customer experience and services to customers. The product planning and proactive asset management segment is anticipated to expand at the highest CAGR of 35.1% during the forecast period
  • By end use, the retail segment accounted for the largest revenue share in 2020 and is expected to dominate the market throughout the forecast period. The BFSI segment is likely to expand at the highest CAGR over the forecast period
  • North America dominated the market in 2020 and is expected to retain its lead over the forecast period. This can be attributed to factors such as growing technological advancements, a high rate of adoption, and the existence of a large number of market players in the region

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SOURCE Research and Markets

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