According to a report released by Research and Markets, the worldwide SEO market will reach $122.11 million in 2028. This represents a 9.6% Compound Annual Growth Rate (CAGR). The SEO market growth is expected to be driven by the emergence of digital marketing and the increased use of the internet.
The SEO market is expanding every day. Digitalization has led to an increase in online content. This has fueled the demand for SEO services. These services are also increasingly being adopted by small and medium-sized businesses (SMEs) to increase their customer base and stay competitive in the market.
These services will be continue to be in demand because of the need to keep up with the competition and an increased demand on companies’ return on investment (ROI). The increasing importance of online visibility for businesses, the growing use of mobile devices, and the increasing adoption of artificial intelligence (AI) in SEO are some of the major factors driving the growth of the market.
Over the past five years, the number of online searches have increased dramatically. This can be attributed to the fact that more people rely on search engines for information about products or services. Businesses are realizing how important it is to invest in search engine optimization (SEO) in order increase their visibility online and get more customers.
According to Research and Markets, the SEO market growth is being driven by the importance of online visibility and mobile device use. The market’s biggest challenge is the shortage of skilled workers.
Key highlights of this report, titled, “SEO Market Size, Share, Trends, By Component, By Product, By Deployment, By Platform, By End-use, and By Region Forecast to 2028”:
- Local SEO strategy helps businesses become more visible in search engine’s result. It will help you to target potential customers who are searching for products or services near by their locations. The organic search results are more trusted as compared to the paid ads. Moreover, local SEO is very important for small businesses because it allows them to compete with larger companies. It is a cost-effective way to generate leads and convert them into customers.
- The cloud segment accounted for a revenue share of 58.5% in 2020 and is expected to grow at a CAGR of 22.6% from 2021 to 2028. The rising adoption of SEO tools & software among small & medium enterprises (SMEs) and large enterprises is expected to drive the growth of this segment over the forecast period. The adoption of cloud-based SEO tools & software allows businesses to store their data and files on a remote server, thereby reducing the operational costs.
- The on-premises segment is expected to grow at a CAGR of 16.9% from 2021 to 2028. This growth can be attributed to the rising demand for on-premises SEO tools & software from SMEs that do not want to store their data on a remote server. Moreover, the on-premises segment offers certain advantages over the cloud, such as data security and privacy, which is expected to drive the growth of this segment over the forecast period.
- The small & medium enterprises (SMEs) segment accounted for a revenue share of 49.8% in 2020 and is expected to grow at a CAGR of 20.6% from 2021 to 2028. The rising adoption of digital marketing among SMEs is expected to drive the growth of this segment over the forecast period.
- The large enterprises segment is expected to grow at a CAGR of 18.6% from 2021 to 2028. This growth can be attributed to the rising demand for SEO tools & software from large enterprises that want to improve their online visibility and reach out to a larger customer base.
- The healthcare segment is expected to grow at a CAGR of 18.4% from 2021 to 2028. This growth can be attributed to the rising adoption of digital marketing by healthcare organizations to promote their products and services.
- The retail & e-commerce segment is expected to grow at a CAGR of 17.9% from 2021 to 2028. This growth can be attributed to the rising adoption of digital marketing by retail & e-commerce businesses to promote their products and services.
- The IT & telecom segment is expected to grow at a CAGR of 17.1% from 2021 to 2028. This growth can be attributed to the rising adoption of digital marketing by IT & telecom companies to promote their products and services.
- North America accounted for the largest revenue share in 2020 and is expected to grow at a CAGR of 16.5% from 2021 to 2028. This growth can be attributed to the presence of a large number of SEO service providers in the region. Moreover, the rising adoption of digital marketing among businesses in the region is expected to drive the growth of the market over the forecast period.
Here is the table of contents of the Research and Markets report:
Component Outlook (Revenue, USD Billion; 2018-2028)
Software
Services
Product Outlook (Revenue, USD Billion; 2018-2028)
Content SEO
Technical SEO
Product Page SEO
Voice Search SEO
Local SEO
Deployment Outlook (Revenue, USD Billion; 2018-2028)
Cloud
On-Premises
Platform Outlook (Revenue, USD Billion; 2018-2028)
Desktop
Mobile
End-use Outlook (Revenue, USD Billion; 2018-2028)
Ecommerce
Real Estate
IT
Recreation
Hospitality
Others
Regional Outlook (Revenue, USD billion; 2018-2028)
North America
US
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Sweden
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Israel
Rest of MEA
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. SEO Market Segmentation & Impact Analysis
Chapter 5. SEO Market By Component Insights & Trends
Chapter 6. SEO Market By Product Insights & Trends
Chapter 7. SEO Market By Deployment Insights & Trends
Chapter 8. SEO Market By Platform Insights & Trends
Chapter 9. SEO Market By End-use Insights & Trends
Chapter 10. SEO Market Regional Outlook
10.4.7. China
Chapter 11. Competitive Landscape
Chapter 12. Company Profiles
Companies Mentioned
Ahrefs
Google
SEMRush
KWFinder
Moz Pro
Ubersuggest
SpyFu
Woorank
Majestic
SEOQuake
There are certainly more SEO tools that they should have mentioned, and I’m surprised that the Microsoft Bing search engine wasn’t mentioned, as they still have a good percentage of market share.
The report is available here, it is not a free report: https://www.researchandmarkets.com/reports/5623609/seo-market-size-share-trends-by-component-by
