Search Engine Optimization (SEO) Market Size Worth USD 157.41 Billion in 2032 | Emergen Research

Increasing usage of mobile devices for web search is one of the major factors driving Search Engine Optimization (SEO) market revenue growth

Vancouver, Jan. 10, 2024 (GLOBE NEWSWIRE) — The global Search Engine Optimization (SEO) market size was USD 68.27 Billion in 2022 and is expected to register a revenue CAGR of 8.7% during the forecast period, according to latest analysis by Emergen Research. Increasing usage of mobile devices for web search is a key factor driving market revenue growth. Search engine optimization is a collection of strategies that any content producer can utilize to assist certain web pages rank higher in search results, which can improve traffic to the website, increasing both visibility and revenue.

Search engines, such as Google, have shifted to mobile-first indexing, prioritizing the mobile versions of websites in their ranking algorithms which as a result encouraged businesses to optimize their websites for mobile devices to maintain or improve their search rankings hence driving market revenue growth. Moreover, rising strategic initiatives taken by the companies is contributing to market revenue growth. For instance, on 21 October, 2023, Google announced the completion of shift to mobile-first indexing aligns with the increasing prevalence of mobile search among users. This means Google prioritizes mobile versions when crawling pages and indexing content.

The growing number of product launches and partnerships among the major companies is contributing to market revenue growth. For instance, on 7 August 2023, Moz launched a pioneering metric, Brand Authority, establishing a scale ranging from one to 100 to gauge online brand strength. This innovative metric provides business leaders and marketers with an easy means to assess the competitive landscape through a unique visualization for brand comparison.

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However, high cost associated with the implementation and maintenance of SEO strategies is a key factor hampering market revenue growth. The initial implementation of comprehensive SEO strategies involves expenses related to website optimization, content creation, keyword research, and potentially engaging with specialized SEO tools or services which can be a barrier for smaller businesses or startups with limited budgets.

Scope of Research

Report Details Outcome
Market size in 2022 USD 68.27 Billion
CAGR (2023–2032) 8.7%
Revenue forecast to 2032 USD 157.41 Billion
Base year for estimation 2022
Historical data 2019–2021
Forecast period 2023–2032
Quantitative units Revenue in USD Billion and CAGR in % from 2023 to 2032
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Component, Product, Deployment, Platform, end-use, and Region.
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Country scope U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA
Key companies profiled Alphabet Inc., Microsoft Corporation, Baidu, Inc., HUBSPOT INC., WordStream, Semrush Holdings, Inc., WebFX, BrightEdge Technologies, Inc., Rank Ranger, LLC, Ahrefs Pte. Ltd, Conductor, Linkdex, Yoast BV, SEOMoz, Inc., Screaming Frog Ltd., SEO Book, SpyFu, Inc., COGNITIVESEO, Majestic.
Customization scope 10 hours of free customization and expert consultation

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Major Companies and Competitive Landscape

The global Search Engine Optimization (SEO) market is fragmented with large and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective in the market. Some major players included in the market report are:

  • Platform
  • Alphabet Inc
  • Microsoft Corporation
  • Baidu, Inc
  • HUBSPOT INC
  • WordStream
  • Semrush Holdings, Inc
  • WebFX
  • BrightEdge Technologies, Inc
  • Rank Ranger, LLC
  • Ahrefs Pte. Ltd
  • Conductor
  • Linkdex
  • Yoast BV
  • SEOMoz, Inc
  • Screaming Frog Ltd
  • SEO Book
  • SpyFu, Inc
  • COGNITIVESEO
  • Majestic.

Strategic Development

  • On 4 December 2023, HubSpot, Inc. acquired Clearbit, a prominent B2B data provider. This incorporation of Clearbit into HubSpot’s framework aims to integrate valuable third-party company data directly into HubSpot’s central system of record, solidifying HubSpot’s position as the primary information source for go-to-market professionals. Through the unified platform, leveraging the capabilities of Clearbit and HubSpot AI, customers of HubSpot can anticipate an enriched understanding of their customers and prospects, resulting in heightened contextual insights.
  • On 30 August 2023, BrightEdge launched its latest technology, leveraging generative artificial intelligence (GAI), known as BrightEdge Copilot, this innovation provides marketers with a hands-on experience with GAI. It empowers users to construct uniquely tailored, SEO-optimized webpage titles and descriptions more efficiently and accurately, ultimately enhancing performance. It establishes a realm where SEO transcends mere algorithms, emphasizing interaction and intelligence, both artificial and human.

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Some Key Highlights From the Report

  • Software segment accounted for the largest market share in terms of revenue in 2022. Rising demand for software since it provides tools for keyword research, website audit, analytics, and others, enabling businesses to improve their search engine rankings and drive organic traffic to their sites which is a key factor driving revenue growth of the segment. The importance of optimizing software company content for SEO is emphasized, as good SEO practices as it significantly enhances a company’s online visibility and attract more potential customers. Keyword research tools empower businesses and SEO professionals to identify the most relevant and high-performing keywords for their content.
  • Cloud segment accounted for the largest market share in terms of revenue in 2022.  Rising demand for Cloud-based SEO tools as it provides advantages in terms of accessibility, collaboration, scalability, and real-time data management which is a key factor diving revenue growth of the segment. Cloud-based SEO software eliminates the need for extensive local installations and updates, providing users with instant access to the latest features and improvements which as a result ensures that businesses can promptly adapt to evolving SEO trends and algorithm changes without the delays associated with traditional software updates hence contributing to revenue growth of the segment.
  • The North America market accounted for the largest revenue share in 2022. Increasing prevalence of mobile devices has led search engines such as Google to prioritize mobile-friendly websites which is a key factor driving  revenue growth of the market in this region. Businesses invest more in content marketing, as the result there is high demand for SEO services to optimize and promote that content also increases which is another factor driving North America market revenue growth. In addition, rising product launches and partnership among the major companies in the region is also contributing to  revenue growth of the market in this region.
  • On 17 October 2023, Yoast SEO launched new update packed with enhancements and fixes to improve experience. With this update, Yoast SEO reaffirms its commitment to delivering cutting-edge solutions that empower users in their SEO endeavors. Users are encouraged to update to version 21.2 to experience the benefits of the enhanced sidebar and optimize their online presence effectively.

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Emergen Research has segmented the global Search Engine Optimisation (SEO) market on the basis of component, product, deployment, platform, end-use, and region:

  • Component Outlook (Revenue, USD Billion; 2019–2032)
    • Software
      • Cloud-Based
      • Keyword-Based
      • Analytics and Reporting
      • Social Media Optimization (SMO)
      • International SEO
      • Others
    • Services
      • On-Page Optimization
      • Off-Page Optimization
      • Technical SEO
      • Local SEO
      • SEO Auditing
      • Reputation Management
      • Competitor Analysis
      • UX-Focused SEO
      • Mobile-First SEO
      • Ethical SEO Practices
      • Education and Training
  • Product Outlook (Revenue, USD Billion; 2019–2032)
    • Content SEO
    • Technical SEO
    • Product Page SEO
    • Voice Search SEO
    • Local SEO
    • Ai-Driven SEO Tools
  • Deployment Outlook (Revenue, USD Billion; 2019–2032)
    • Cloud
    • On-Premises
    • Hybrid
  • Organization Size Outlook (Revenue, USD Billion; 2019–2032)
    • Large Enterprises
    • Small and Medium-Sized Enterprises
  • Platform Outlook (Revenue, USD Billion; 2019–2032)
    • Desktop
    • Mobile
      • Mobile Apps
      • Mobile Browser
    • Others
  • End-Use Outlook (Revenue, USD Billion; 2019–2032)
    • E-Commerce
    • Real Estate
    • IT
      • Software Development
      • SaaS Companies
      • Tech Services
    • Recreation
    • Hospitality
    • Healthcare
    • Education
    • Others
  • Regional Outlook (Revenue, USD Billion; 2019-2032)
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K.
      • Italy
      • Spain
      • 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
      • Turkey
      • Rest of MEA

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