(MENAFN- GlobeNewsWire - Nasdaq) New York, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Search Engine Optimization Services Global Market Report 2021: COVID 19 Impact and Recovery to 2030" -
66 billion in 2020 to $50.45 billion in 2021 at a compound annual growth rate (CAGR) of 8.1%. 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 $103.24 billion in 2025 at a CAGR of 20%.
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 search engine optimization services market is segmented into agencies SEO services and feelancer SEO services.
Asia Pacific was the largest region in the global search engine optimization services market, accounting for 33% of the market in 2020. 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.
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 annual revenues of Google and Yahoo switched to Microsoft Bing.
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 or 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 which pay the internet service providers.
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 leads to an increased number of people that own an internet accessible device and increasing access to digital platforms. For example, average time spent on internet by each person in the US is expected to increase from 200 minutes per day in 2017 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 emgone optimization services market.
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