Revenue within the UK search engine market is predicted to grow at a compound annual growth rate (CAGR) of 3% over the next five years, to reach £415.9 million in 2017-18.
Over the five years through 2012-13, the industry is expected to grow at a CAGR of 3.4%. In 2012-13, however, revenue is expected to contract by 2.7% to £358.5 million.
The UK search engine market is the perfect example of a concentrated market structure, with just three companies controlling in excess of 90% of the market.
The current state of the UK search engine market shows that Google is dominating, Yahoo is struggling and Microsoft is growing.
Google enjoys the bulk of the UK search engine market share, handling 91.05% of all queries, light years ahead of Yahoo with 2.32% and Microsoft with 4.76%. Only time will tell if these trends continue.
The success of these companies is based on the ability to search more efficiently and accurately than any competing search engine, which attracts more users.
The UK search engine market saw users make 2.3 billion visits to search engines in May 2012, up by 82 million visits, representing a 3.7% monthly increase in search activity and a 3.6% year-on-year increase.
For more information on the UK search engine market, see the latest research: UK Search Engine Market Report
Follow us on Twitter @CandMResearch
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.