Content Recommendation Engine Market Overview:
The global report on the Content Recommendation Engine Market predicts a 30%
CAGR during the forecast period of 2018 to 2023, where the market valuation
would touch a mark of around USD 6 billion. Market Research Future (MRFR)
identifies the growing demand for personalized content as one of the major
traction providers. Among others, rising competition in the market, demand from
major companies who wish to bolster their online presence, rapidly developing
e-commerce sites, and demand for search engine optimization are expected to
provide substantial support to the market.
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Segmentation:
The global market report on
the content recommendation engine market depends on a segmentation that
includes a proper study of component, organization size, filtering approach,
and vertical.
By component, the content
recommendation engine market includes segments like solution and service.
By organization size, the
study of the content recommendation engine market covers small & medium
enterprises and large enterprises. The large enterprises are investing much to
support their business deals, which is bolstering the content recommendation
engine market growth.
By filtering approach, the
report on the content recommendation engine market includes content-based
filtering, collaborative filtering, and hybrid filtering.
By vertical, the
understanding of the content recommendation engine market includes e-commerce,
media, industrial, education & training, retailer and consumer goods,
entertainment & gaming, BFSI, IT & telecommunication, and healthcare
& pharmaceuticals.
Regional Analysis:
Major players are from
North America, which would go in favor of the North American market and help it
retain its market presence during the forecast period. A growing need to
analyze user data is expected to take the European market forward.
Competitive Landscape:
Certona (US), Amazon Web
Services (US), Boomtrain (US), Dynamic Yield (US), Curata (US), Cxense
(Norway), Outbrain (US), IBM (US), Kibo Commerce (US), Taboola (US), Revcontent
(US), and ThinkAnalytics (UK) are some prominent names involved in furthering
prospects of the market. This global market for content recommendation engine
is banking on the strategic changes implemented by these companies. These
companies mainly focus on improving their market stand using measures like a
merger, acquisition, innovation, launching of product, research, and others.
But these also improve the global market results. MRFR analyzed the latest
moves made by these companies to understand how the market is getting backed by
various trends.
Industry News:
Recently, Bolo Indya, a
Gurugram-based user-generated content platform, announced its success in
raising $300,000 Pre-Series A1 round of funding that was getting helmed by
India Accelerator, Eagle10 Ventures, and HNIs. The company is planning to
invest the fund in enhancing the development of language evangelists,
personalization and recommendation engine and improve the team to expand the
portfolio and quicken the pace of product development.
In April 2020, CNN
announced the acquisition of Canopy, an all-purpose content personalization
structure that relies on on-device machine learning, human curation, and
differential privacy to assist its readers discover things they prefer all the
while putting a lid on their private information. This new acquisition is in
sync with the news agency’s endeavors to stay abreast in a market that is
primarily governed by Facebook and Apple. Experts believe that the startup will
emerge as an anchoring part of CNN’s new projects.
The COVID-19 crisis has impacted
several industries and the content management system is not any exception. A
huge amount of data on the disease is getting churned out each minute and
companies are trying to filter out the fake and hook the best to get more
audience. This might help the market register better growth.
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