The Search Engine Optimization Services by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Search Engine Optimization Services, The search engine optimization services market size has grown rapidly in recent years. It will grow from $75.13 billion in 2023 to $88.91 billion in 2024 at a compound annual growth rate (CAGR) of 18.3%. The growth in the historic period can be attributed to growth in digital media consumption, rise in penetration of smartphones and internet services, digital empowerment of older generations, and favorable government initiatives.
The search engine optimization services market size is expected to see rapid growth in the next few years. It will grow to $170 billion in 2028 at a compound annual growth rate (CAGR) of 17.6%. The growth in the forecast period can be attributed to increase in digital advertising revenues, emergence of affordable internet in developing countries, growing digital native population, and increase in social media usage. Major trends in the forecast period include rich snippets, focus on visual content, video content optimization, mobile optimization, page experience signal, voice search, extensive keywords research, and use of featured snippet.
Rising penetration of mobile, tablet and other electronics and rising data consumption will drive the web content, search portals, and social media market. Rising sales of electronics lead to an increased number of people that own internet-accessible devices and increasing access to digital platforms. For example, the average time spent on the internet by each person in the US is increased to 282 minutes per day in 2021, giving companies the opportunity to generate more revenue per user. This rising average internet use is expected to drive the search engine optimization services market.
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The search engine optimization services market covered in this report is segmented –
1) By Type: Agencies SEO Services, Freelancer SEO Services
2) By Organisation: Small and Medium Enterprises (SMES), Large Enterprises
3) By End-User Industry: Professional Services, IT Services, Ecommerce, Hospitality, Recreation, Real Estate, Other End-User Industries
The competition for search traffic is significant amongst major players like Google, Yahoo, and Bing. Strategic partnerships are seen amongst the major competitors, contributing a large share to their revenues. For instance, Apple uses Google as its default search engine which has contributed as much as $8.8 billion to the annual revenues of Google, and Yahoo switched to Microsoft Bing.
The search engine optimization services market report table of contents includes:
1. Executive Summary
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