The search engine optimization services market consists of sales by entities (organizations, sole traders or partnerships) that undertake search engine optimization services and other related activities. This market includes sales from advisory services and ad words management services.
The global search engine optimization services market is expected to grow from $43.3 billion in 2019 to $47.5 billion in 2020 at a compound annual growth rate (CAGR) of 9.7%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 19% from 2021 and reach $77.6 billion in 2023. Asia Pacific was the largest region in the global search engine optimization services market, accounting for 32% of the market in 2019. North America was the second largest region accounting for 32% of the global search engine optimization services market. Middle East was the smallest region in the global search engine optimization services market. Digital rates are declining as supply of ad space is growing rapidly. Mobile advertising rates have stayed steady and even if there is a slight increase in advertising rates, advertisers are finding value in the mobile space. Mobile advertising rates are low as compared to desktops as they have smaller screens but are expected to grow beyond other digital rates. For instance, Google has registered decrease in CPC (Cost per click), but its revenue has grown with the increase in internet users.
The major players in the global search engine optimization services market are Google, Bing, Baidu, Ask, Yahoo
The countries covered in the global search engine optimization services market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam
The Global Search Engine Optimization Services Market is segmented:
1) By Type: Agencies, Freelancers
2) By Organisation: Small and Medium Enterprises (SMES), Large Enterprises
3) By End-User Industry: Professional Services, IT Services, Ecommerce, Hospitality, Recreation, Real Estate, Others