LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global SEO software market to grow at a CAGR of approximately 15% during the period 2018-2022, according to their latest report.
This market research report segments the global SEO software market based on type (mobile user and desktop user) and key regions (the Americas, APAC, and EMEA).
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In this report, Technavio analysts highlight the upsurge in penetration of Internet across the world as a key factor contributing to the growth of the global SEO software market:
Upsurge in penetration of internet across the world
The increasing penetration of the internet globally is driving the global SEO software market. More people, as well as enterprises, are coming online and going digital as the penetration of the internet is at an all-time high. SEO analysts and marketers realize the need to tap into this online market as end-customers for businesses are online and actively consume the internet. The ever-increasing internet infrastructure and its penetration across the world is one of the key drivers for the growth of the global SEO software market. This increase in the adoption and implementation of the internet is supplemented by improved infrastructure and technology advances such as 4G and broadband. These technologies are increasingly becoming cheaper, which has decreased the costs of the service provider and is driving the worldwide internet penetration.
According to a senior analyst at Technavio for enterprise application, “The changing consumer demographics, consumer preferences, and overall infrastructural advances across the globe have led to an intensive growth in the number of internet subscribers. This dynamic existence of online consumers because of internet penetration presents an enormous opportunity for the use of SEO software to optimize and promote web pages for businesses that affect the online visibility of products, services, and brands.”
Also, every business is information-driven with key end-goals of process optimization and improvement to achieve a competitive advantage. Therefore, almost all processes and operations of an enterprise are digitalized. The entire digital ecosystem has been created in a manner to incentivize the consumer fairly on the consumption of products and services through the online media. Incentivization of a consumer on the internet may be in the form of discounts and cash back. This has led to an increasing influx of end-consumers that are readily adopting the digital media. Such instances of business transformation across the industries have contributed immensely to the growing internet diffusion and thereby, led to the intensive growth of the global SEO software market.
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Global SEO software market segmentation
The SEO software mainly caters to two types of end-consumers. One that uses search engines from mobile platforms and the other that uses search engines from desktop platforms. Mobile platforms may include mobile devices, smart watches, smart bands, smart glasses, and tablets. Desktop platforms comprise personal computers, laptops, enterprise computers, server systems, and others.
In 2017, the Americas accounted for a share of approximately 49% of the total market. It was primarily driven by the massive online population, the maturity and growth of the industrial and private sector, macroeconomic factors such as economic growth, and internet pervasiveness among the masses. As a result, the region witnessed a high concentration of the top SEO software vendors.
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