The global recommendation engine market is estimated to grow at a significant CAGR during the forecast period. The recommendation engine is a data filtering tool that uses machine learning algorithms to recommend the most relevant items to a user or customer. It functions on the principle of finding patterns in consumer behaviour data that can be obtained implicitly or explicitly. For instance, Netflix uses a recommendation engine to offer viewers with movie and show suggestions. On the other hand, Amazon uses a recommendation engine to present customers with product recommendations. Though each uses one for slightly different purposes, both have the same goal to drive sales, boost engagement and retention, and deliver more personalized customer experiences.
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Furthermore, in May 2021, IBM Watson Advertising Accelerator for OTT and video has been expanded, allowing marketers to go beyond contextual relevance alone. Accelerator promises to use AI to dynamically adjust OTT ad creative for better campaign outcomes at scale, without relying on traditional advertising IDs. While Accelerator is compatible with numerous streaming systems, IBM is collaborating closely with Xandr, a market leader in programmatic and convergent video solutions, to assist scale its usage.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Recommendation Engine Market by Segments,
By Deployment Mode,
- On-Premise
- Cloud
By Types,
- Collaborative Filtering
- Content-Based Filtering
- Hybrid Recommendation Systems
- Other Types
Global Recommendation Engine Market by region,
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
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