DUBLIN, March 28, 2022--(BUSINESS WIRE)--The "Search Engine Optimization Services Global Market Report 2022, By Type, Organisation, End-User Industry" report has been added to ResearchAndMarkets.com's offering.
The global search engine optimization services market is expected to grow from $51.74 billion in 2021 to $63.19 billion in 2022 at a compound annual growth rate (CAGR) of 22.1%.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $134.26 billion in 2026 at a CAGR of 20.7%.
Axel Springer SE
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The search engine optimization services market consists of the revenues generated from sales of SEO advisory services by entities (organizations, sole traders, or partnerships) that provide advisory services for businesses to optimize their websites. Search engine optimization companies advise their clients in optimizing their websites and their content to enhance the websites' visibility in search results.
The main types of search engine optimization services are agency SEO services and freelancer SEO services. An SEO agency is a business that specializes in search engine optimization. It benefits companies by increasing their web visibility. The different organizations include small and medium enterprises (SMEs), large enterprises and are used by various sectors such as professional services, IT services, e-commerce, hospitality, recreation, real estate, others.
Asia Pacific was the largest region in the search engine optimization services market in 2021. Africa is expected to be the fastest growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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.
Government regulations may restrain the search engine optimization market's growth. For instance, the concept of net neutrality means internet service providers (ISPs) cannot block content based on its source or destination discriminate against certain applications (such as BitTorrent), or impose special access fees that would make it harder for small websites to reach their users. Regulations such as net neutrality arguably stop the market from acting freely and give preferential treatment to websites that pay internet service providers.
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.
For more information about this report visit https://www.researchandmarkets.com/r/unelxc
View source version on businesswire.com: https://www.businesswire.com/news/home/20220328005369/en/
Laura Wood, Senior Press Manager
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