Main Insights to Follow in the SEO Software Market
This is everything an entrepreneur should know to keep abreast of the SEO market.
If you’re dealing with any online endeavor, chances are you're SEO-obsessed. Without SEO, there’s no way to get ahead of the competition in today’s flooded market. This is precisely why the SEO software market has started to grow exponentially in recent years, with some predictions claiming growth of about $740 million by 2024.
The matter of SEO
SEO presents a process of ranking a website in the search results of search engines in regards to the searched term (i.e. keywords.)
The higher the site’s ranking in the Search Engine Results Pages (SERPs), the higher the traffic. A higher flow of organic visitors makes the website more popular, the business in question more successful and the brand more reputable and visible. Keeping up with the latest SEO trends provides the brands with an opportunity to reach a wider audience, differentiate themselves from the competition, and aim for a higher ROI when it comes to marketing.
This has triggered the rise of special SEO software that delivers an easy solution for all SEO essentials such as keyword search and identification, better search ranking strategies, traffic boost guidelines and more to all these brands fighting for a higher position.
The competition of SEO software market vendors
It’s obvious that the competition within the SEO software market is going to be fierce. The increase in the competition among SEO software vendors is a natural process of trying to one-up each other. For starters, there’s a clear need to accommodate different aspects of SEO within a product, which will show expansions such as fusing marketing analytics with SEO features as a way to make their software even user-friendlier and more efficient than before.
With the continuously growing importance of SEO, we can expect a steady growth of new market vendors together with fresh opportunities for the existing ones. This whole spiel, however, doesn’t come without challenges. The ambiguity of SEO itself and the lack of confidence when it comes to the final SEO outcomes might prevent some vendors from taking these opportunities to grow.
Key SEO software markets
The biggest SEO software market continues to be North America, followed by the Asia Pacific (APAC):
North America. When we talk about SEO software market analysis, it’s hardly surprising that North America is the current largest SEO software market and is expected to hold that position during the forecast period between 2020 and 2024. Actually, a whopping 42% of the entire market growth is expected to come from the US and Canada.
APAC. On the other hand, the APAC (Asia Pacific) SEO software market is expected to show a higher value growth during the mentioned forecast period. The economic development and the increasing necessity to automate and optimize different business processes in countries like China and India are predicted to be the strongest supporters of the APAC SEO software market growth.
Following behind with moderate growth rates are:
Major SEO software market type segments
One of the biggest SEO software market-type segments involves the way users access the Internet. Even now, the prevalent target of the major market vendors still focuses on desktop. Not only is the desktop computer still the largest search engine accessing point, but the majority of the most popular SEO software vendors target tech-savvy and IT-support users who manage the SEO factor professionally, and they often use a desktop platform to do their job.
As such, the desktop platform is sure to remain the major segment, but when it comes to market growth, the mobile user segment will be on the rise.
Another important market-type segment revolves around the notion of keywords. Keyword analysis and implementation is crucial for proper optimization. This drives a consistent and growing need to improve the use of keywords, which consequently drives the rising demand for an enhanced keyword tool as a part of comprehensive SEO software.
What’s trending for the SEO software market?
Internet penetration in almost every single lifestyle aspect worldwide is the main drive behind the growing SEO software market. As the number of online businesses and users grows steadily, so does the opportunity pool for the SEO software market. This has created actual trends meant to enhance both SEO and user experience. We already see AI-powered chatbots designed to drive more sales and improve conversational marketing.
Investing in IoT, machine learning and virtual reality when it comes to SEO software is expected to boost the efficiency of these products and, in turn, allow for even bigger software optimization and evolution. The creation of superior algorithms powered by the contextualized and comprehensive user info is expected to bring the so-called new age of SEO software.
It seems that data is the new oil. Utilizing data resources to the fullest is crucial for creating and improving SEO software. That said, one of the biggest trends in the industry deals with the introduction of the one-stop data source of structured search engine data. By using SERP API as a powering force, companies can create their own software and rank-tracking tool that brings the best value possible.
Entrepreneur Leadership Network Contributor