Reports and data
SEO (Search Engine Optimization) Market Size – USD 58.19 Billion in 2020, Market Growth – at 9.6% CAGR, Fast Broadband Internet Penetration
NEW YORK, NY, USA, Feb. 4, 2022 /EINPresswire.com/ — Rise in sophisticated SEO campaigns and availability of more online data than before are fueling market revenue growth
The global SEO (Search Engine Optimization) market size is expected to reach USD 122.11 billion in 2028 and register a CAGR of 9.6% over the forecast period, according to the latest report from Reports and Data. The SEO market is growing due to the increase in the number of searches per user. Rapid digitization and availability of high-speed internet is propelling internet usage among younger generations, which is driving the market revenue growth.
The number of daily online searches has increased from 1 billion in 2010 to 7 billion in 2020. The internet has become more affordable across various demographic groups and the availability of more outlets for search visibility is also driving the growth of the SEO market . Areas where the market has seen drastic growth have digital assistants bridging the gap between online and offline searches and search engines specific to individual platforms such as YouTube and Amazon.com.
SEO aims to attract online visitors who are looking for information about products or services, which makes it excellent for lead generation. Companies have observed that after using SEO, leads have an average conversion rate of 14.6% compared to traditional strategies which have a conversion rate of 1.7%.
ROI is a key consideration when accessing digital marketing channels. SEO helps improve the flow of traffic to a website with commercial offers and thus provides a substantial return on investment. The first Google listing receives 33% of all internet search traffic. Therefore, search engine visibility correlates directly with increased web traffic and increased revenue, making ROI a key SEO benefit for many businesses.
The top companies in the market are Ahrefs, Google, SEMRush, KWFinder, Moz Pro, Ubersuggest, SpyFu, Woorank, Majestic, and SEOQuake.
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Some highlights of the report
• Local SEO strategy helps businesses become more visible in search engine results. Businesses that run a physical store or serve a particular area can benefit from local SEO. One of the frequently used marketing strategies is to attract more customers so that people can find the products and services they need both online and offline. Local SEO aims for higher rankings in specific areas such as region or cities. Search engines know whether or not Internet users are looking for a local solution for their query. Investing in local SEO can help small businesses show up in the results.
• The Cloud segment accounted for a larger revenue share in 2020 due to its many benefits. It reduces the risk of server downtime and provides a competitive advantage through site responsiveness. Cloud-hosted websites can access advanced data and analytics, and with this data, businesses are able to build effective SEO strategies.
• The hospitality segment accounted for a large share of revenue in 2020 as it increasingly uses SEO to drive reliable bookings and website conversion optimization to turn visitors into leads. In 2019, 48% of hotels were booked via their websites. Hotel SEO is also very profitable and it is more about investing time and expertise rather than large sums of money.
• North America accounted for the largest share of revenue in 2020 as most businesses in the United States use SEO to increase sales and attract more customers. The region has a high adoption rate of advanced technologies and the advent of artificial intelligence for SEO is further boosting the demand for SEO. The high disposable income of businesses in North America enables them to invest in advanced SEO software and services, which further propels the growth of the market.
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For the purposes of this report, Reports and Data has segmented the global SEO market on the basis of component, product, deployment, platform, end-use, and region:
Components Outlook (Revenue, USD Billion; 2018-2028)
• Software
• Services
Product Outlook (Revenue, USD Billion; 2018-2028)
• Content SEO
• Technical referencing
• SEO of the product page
• Voice Search SEO
• Local SEO
Deployment Outlook (Revenue, USD Billion; 2018-2028)
• Cloud
• On the site
Platform Outlook (Revenue, USD Billion; 2018-2028)
• Office
• Movable
End-Use Outlook (Revenue, USD Billion; 2018-2028)
• E-commerce
• Real estate
• THIS
• Recreation
• Hospitality
• Others
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Regional Outlook (Revenue, USD Billion; 2018-2028)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
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Tushar Rajput
Reports and data
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