The global SEM services market was valued at around USD 143 billion in 2016 and is anticipated to surpass USD 242 billion by 2021.
Procurement market intelligence analysts have announced its latest market research report on SEM services for the period 2017-2021. This market study discusses the major drivers and key emerging trends that will influence the growth of the SEM services market during the forecast period. Some of the top vendors listed in this industry analysis include IBM Interactive Experience, Accenture Digital, Deloitte Digital, Epsilon, and PwC Digital.
In terms of geographical analysis, the Americas are the largest shareholder in the global market, with a market share of around 43%. The US was the key revenue generating country in this region by accounting for almost 20% of the market in the Americas.
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According to Angad Singh, a procurement specialist at Technavio for research on category spend intelligence, “The implementation of voice search using virtual assistants will fuel the growth in the SEM services market. Voice search will help increase in some search engine users due to convenience, leading to better reach for buyers. The trend of using digital assistants such as Siri, Now, Alexa, and Cortana on mobile phones will result in end-users using voice search on search engines instead of traditional typing. Furthermore, content management sites, such as WordPress, offer plugins and add-ons to integrate voice search features with websites.”
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The new procurement market intelligence report examines some of the key drivers and trends responsible for the growth of this market and its sub-sectors.
Decreasing influence of traditional ads
The consumers in the global market are increasingly spending time on connected mobile devices which, in turn, is boosting the spending mobile advertisement in the world market. Online content is becoming attractive and luring more viewers. The changing consumer behavior is prompting the migration of TV ad budgets to online spending, especially paid search and advertisers are allocating high budgets for online ads, where the engagement levels are higher. Moreover, the rise in social media is fueling the shift from traditional advertising to online advertising.
Better and measurable ROI due to programmatic platforms
The growing implementation of real-time bidding platforms for ad exchange mechanisms in various search engine facilitators like Google and Yahoo will fuel the growth in the SEM services market. An RTB or programmatic platform is the method of buying and selling online ads in real time, and it employs dynamic pricing auction method, which permits the publisher to supply the impression to the highest bidder. The use of metrics for measuring the effectiveness of SEM techniques, such as cost per lead and cost per impression will help marketers in effectively assessing ROI and prompting buyers to shift from traditional ads to SEM.
Scope for tapping emerging markets
The rapid increase in the use of mobile devices, especially in untapped emerging regions such as APAC and MEA, is expected to contribute to the growth of the SEM services industry significantly. The vendors in the global market are exploiting the increase in the use of mobile devices via mobile optimization of websites, and these factors will help enhance the potentiality of the SEM market in these untapped regions, which, in turn, will drive market growth.
A more detailed analysis is available in the procurement market intelligence report titled, ‘Global SEM Services Market – Procurement Market Intelligence Report 2017-2021.’
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