Search engine technology provides a methodology or framework to facilitate search on the World Wide Web (WWW). The installed software program initially examines and explores its database considering the keywords provided as search items and helps in retrieving the data related to those keywords. Automated systems constantly search for content to keep abreast of recently updated data or content on the web. The rapid growth of the amount of data on Internet has brought in new problems in terms of analysis, organization, retrieval, and capture of the massive information. As traditional search engines are based on early directory services, they are currently facing limitations regarding the management of massive heterogeneous information search. Hence the need for search engines with expanded search scope and enhanced search speed and efficiency has emerged. Such engines with enhanced search technology and improved efficiency are called next generation search engines.
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Demand for new technologies and need of relevant information are expected to support the growth of the next generation search engines market during the forecast period. Increased penetration of smartphones along with rise in the number of internet users are further propelling the market. However, privacy concerns and high initial set-up cost are restraining the next generation search engines market.
The global next generation search engines market can be segmented on the basis of its platform type, end-user industry, enterprise size, and region. Based on platform type, the next generation search engines market can be classified into mobile and desktop. On the basis of end-user industry, the next generation search engines market can be divided into BFSI, healthcare, consulting, automotive, oil & gas, retail, media & entertainment, and others. Consulting, followed by BFSI, is estimated to remain a sizable end-use industry in the global next generation search engines market in the next few years attributing to enterprises that provide solutions in customer service, advisory and decision-making support, investment consulting, and other relevant domains.
Based on enterprise size, the next generation search engines market can be categorized under large-scale, small-scale, and public enterprise. Although the market share of large-scale enterprises is large, there are several opportunities for start-ups in the developing countries such as India, China, Japan as the next generation search engines market is fragmented in nature in Asia Pacific.
In terms of region, global next generation and search engine market can be segmented into North America, South America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA). The next generation search engines market in North America is expected to expand at a significant growth rate and hold a prominent share during the forecast period as compared to the market in other regions. U.S and Canada are projected to drive the next generation search engine market in the region. This can be mainly attributed to the presence of technological advancements and major industry participants.
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Asia Pacific is expected to expand significantly owing to the booming information and technology industry in countries such as China, India, South Korea, Japan, and the Philippines. The next generation search engines market in APAC is also driven by the considerable growth of the small and medium-sized enterprises led by the rise in industrialization. Moreover, substantial adoption of advanced technologies in the region is another captivating trend that signifies the lucrative opportunities for the next generation search engines market in the region.
Key players in the global next generation search engines market are focused on the introduction of advanced and efficient search services in order to improve their offerings and strengthen their position in the market. Some of the key players in the next generation search engines market are Google, Microsoft Corporation, Facebook, Inc., Ask, Quora, You Tube, inc., Blenko, and DuckDuckGo.
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