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Seconds The business research firm’s research report on the content recommendation engine market, rapid digitization is expected to drive the growth of the content recommendation engine market. Digitization is the use of various digital technologies and increased digital access to change a business model and value production opportunities to generate high revenue. According to Oberlo statistics, the number of internet users worldwide increased from 4.02 billion in 2018 to almost 4.95 billion in 2022. Content recommendation engines are widely used in many companies to optimize operations commercial and attract maximum customers, improve customer engagement and increase their involvement. income According to the article published by Barilliance Ltd, an Israel-based company that provides customized solutions for e-commerce and email marketing platforms, in September 2021, approximately 31% of e-commerce revenue is generated from product recommendations. Hence, the rapid digitization of businesses is driving the growth of the content recommendation engine market.
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The global content recommendation engine market size expected to grow from $3.24 billion in 2021 to $4.47 billion in 2022 at a compound annual growth rate (CAGR) of 38.10%. The war between Russia and Ukraine disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions in several countries, increased commodity prices and supply chain disruptions, affecting many markets around the world. The content recommendation engine market is expected to grow $15.4 billion by 2026 at a compound annual growth rate (CAGR) of 36.21%.
New product innovation is the key trend gaining popularity in the content recommendation engine market. Major companies operating in the content recommendation engine market are focusing on product innovations that can provide better recommendation solutions to the online business platforms used and strengthen their market position. For example, in June 2022, Algolia, a US-based company that provides customized solutions for e-commerce platforms, introduced its advanced recommendation platform based on hybrid filtering combined with artificial intelligence known as Algolia recommends spring. Hybrid filtering technology uses both filtering methods to fill the gaps in prediction processes, such as content-based filtering for current user interests and collaborative filtering for user preferences and behaviors, this combination can provide an accurate prediction. The platform is an AI-based recommendation engine integrated with a search and discovery platform to connect with users to deliver relevant and actionable recommendations to improve customer engagement.
Top Players in the Content Recommendation Engine Market are International Business Machines Corporation, Amazon Web Services Inc, RevContent, Taboola, Outbrain Inc, Cxense, Dynamic Yield Ltd, Curata Inc, boomtrain Inc, ThinkAnalytics, Kibo Software Inc, Certona Corporation, Uberflip, Recombee and Newzmate Inc.
The global content recommendation engine market is segmented by component into solution, service; using the filtering approach in collaborative filtering, content-based filtering, hybrid filtering; by size of the organization in small and medium enterprises, large enterprises; by vertical in e-commerce, media, entertainment and gaming, retail and consumer goods, hospitality, IT and telecom, BFSI, education and training, healthcare and pharmaceutical, other verticals.
North America was the larger region in the content recommendation engine market in 2021. asia–peaceful is expected to be the fastest growing region in the content recommendation engine market during the forecast period. Regions covered in the Content Recommendation Engine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Global Content Recommendation Engine Market Report 2022: Market Size, Trends and Global Forecast 2022-2026 is one of a series of new reports from The business research company which provide Content Recommender Engine market size and growth, Content Recommender Engine market segments and geographies, Content Recommender Engine market trends, Content Recommender Engine market drivers and restraints, Content Recommendation Engine market leading competitors revenue, profiles and market shares in over 1,000 industries. reports, covering more than 2,500 market segments and 60 geographies.
The report also provides an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 datasets, extensive secondary research and exclusive insights from interviews with industry leaders.
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