And what it means for the industry’s top dogs.
StatCounter recently announced that August was Bing’s slowest month in terms of growth since its launch, and the combined market share of Bing and Yahoo fell from 20.36% to 20.14%. Despite this grim review on the waning influence of Bing and Yahoo in North America, the global search engine industry is booming.
According to Juan Carlos Perez, all major search engines managed to accrue positive growth margins since last year:
- Google: 76.7 billion queries, up 58%
- Yahoo: 8.9 billion queries, up 2%
- Baidu: 8 billion queries, up 8%
- Bing: 3.3 billion queries, up 41%
Google’s continued dominance is remarkable considering Bing’s summer marketing blitz.
But it’s not just the top American players enjoying an increased market share. As worldwide queries increased 41%, the Russian search engine Yandex enjoyed a 94% growth rate and Latin Americans beat out the Europeans for the most searches per capita.
So what contributed to the growth of the search engine industry as a whole? For one thing, our reliance on search engines for anything and everything ranging from product research to news is greater than ever. Secondly, previously underserved markets are coming online as the Internet becomes more readily available. The latter explains why localized search engines, such as China’s Baidu and Russia’s Yandex, are booming. In fact, China and Russia are among the few countries where the use of local search engines overshadows Google. The search giants had better increase their local and geo-targeting capabilities if they have any hope of keeping up.