Recommendation search engines examine available data in order to make suggestions for something that a website user might be interested in, such as a video or a book. It uses various technologies and techniques, which allows them to filter huge amounts of data and offer a smaller, focused body of suggestions for the user. The market is likely to witness growth during the forecast period owing to swift growth in digitalization and the need to optimize the customer experience.
MARKET SCOPE
The "Global Recommendation Search Engine Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the recommendation search engine market with detailed market segmentation by type, technology, end user, and geography. The report provides key statistics on the market status of the leading recommendation search engine market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global recommendation search engine market is segmented into collaborative filtering, content-based filtering, and hybrid recommendation.
- On the basis of technology, the market is segmented into context-aware and geospatial aware.
- Based on end user, the market is segmented into BFSI, healthcare, IT and telecom, retail, and others.
MARKET DYNAMICS
Drivers:
- The growing focus on enhancing customer experience is driving the growth of the recommendation search engine market.
- The rising use of deep learning technology in AI recommendation engine solutions is anticipated to witness massive demand during the forecast period.
Restraints:
- The high initial cost may restrain the growth of the recommendation search engine market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The recommendation search engine market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the recommendation search engine market in these regions.
IMPACT OF COVID-19 ON RECOMMENDATION SEARCH ENGINE MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the recommendation search engine market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from recommendation search engine market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the recommendation search engine market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Amazon Web Services, Inc.
- IBM
- Microsoft
- Muvi LLC
- Oracle
- Quadratic Insights Pvt. Ltd.
- Recombee
- Salesforce.com, inc.
- SAP