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Internet Search Portals Market to Surpass $493.56 Billion by 2028, Fueled by Mobile Internet Utilization and Digital Advertisements
Internet Search Portals Market
The internet search portals market has witnessed rapid growth, projecting an increase from $258.38 billion in 2023 to an estimated $295.62 billion in 2024, reflecting an impressive Compound Annual Growth Rate (CAGR) of 14.4%. Further, the market is poised to experience substantial growth, reaching $493.56 billion by 2028, at a CAGR of 13.7%.
Rising Mobile Internet Utilization Propels Market Growth
The surge in mobile internet utilization is anticipated to be a key driver for the internet search portals market in the coming years. With approximately 2 billion people accessing the internet solely through smartphones, constituting 51% of the global 3.9 billion mobile users, mobile devices are becoming the preferred means for internet access. The convenience and portability offered by mobile devices, coupled with improving technology, contribute to an increased online traffic, thereby driving the growth of internet search portals.
Explore the Global Internet Search Portals Market with a Detailed Sample Report:
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Digital Advertisements Contribute to Market Expansion
The increasing prevalence of digital advertisements is set to propel the internet search portals market forward. Digital ads, delivered through various online platforms, present significant opportunities for internet search portals to enhance revenue streams and attract more advertisers. Notably, the US is projected to witness digital advertising spending of $248.72 billion in 2023, reflecting a 12.5% increase from 2021 levels. The evolving digital advertising landscape plays a pivotal role in driving the growth of internet search portals.
AI Innovation Shapes Search Experience
Major players in the market are embracing innovative Artificial Intelligence (AI) technologies, such as Search Generative Experience (SGE), to elevate the quality of search results. Google, for instance, launched SGE in May 2023, an experimental version integrating AI answers directly into search results. This advancement enables users to receive summarized information, answers to questions, and creative text formats alongside traditional search results, enhancing the efficiency of information retrieval.
Joint Ventures and Collaborations Enhance Market Dynamics
Collaborations and joint ventures between online portals and news publishers are emerging trends within the internet search portals market. This trend is a response to the growing preference for online and mobile news consumption over traditional print media, leading to a decline in revenues for news publishers. Notable collaborations, such as the strategic partnership between Lumina Datamatics and Gutenberg Technology, aim to address the challenges faced by news publishers in a digital era, providing solutions for managing knowledge and content operations.
Regional Landscape and Market Segmentation
In 2023, Asia-Pacific dominated the internet search portals market, with Africa anticipated to be the fastest-growing region during the forecast period.
The internet search portals market covered in this report is segmented -
1) By Website: Operating Websites, Internet Search Websites, Other Websites
2) By Distribution Channel: Online, Offline
3) By Application: Personal, Commercial
Access the Complete Report for In-Depth Analysis:
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Internet Search Portals Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Internet Search Portals Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on internet search portals market size, internet search portals market drivers and trends, internet search portals market major players, internet search portals market competitors' revenues, internet search portals market positioning, and internet search portals market growth across geographies. The internet search portals market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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