Global Next Generation Search Engines Market to Reach US$ 38.3 Billion by 2032, Impelled by Increasing Demand for Virtual Assistants

September 26, 2022 | Technology & Media

According to the latest report by IMARC Group, titled “Next Generation Search Engines Market Report by Platform Type (Mobile, Desktop), End User (Personal, Commercial), Distribution Channel (Online, Offline), and Region 2024-2032," the global next generation search engines market reached a value of US$ 13.6 Billion in 2023. Next generation search engines, also known as advanced search engines, are digital platforms that provide higher-level features, such as voice and image-based searches, to make information retrieval more effective and convenient. It utilizes various advanced technologies, such as natural language processing (NLP), query intent detection, artificial intelligence (AI), machine learning (ML), social network, and semantic analysis. Next-generation search engines are widely used for personalized and context-aware web searches, result clustering, cross-lingual access to photo databases, and opinion and sentiment mining. They offer advanced models of information retrieval that assist scientific and economic organizations in getting relevant query results faster and in an organized and actionable manner.

Global Next Generation Search Engines Market Trends:

The increasing inclination toward voice searches across the globe is one of the key factors driving the market growth. Voice assistants and smart speakers are a faster and more convenient alternative due to the advancements in speech recognition technology. In line with this, these speakers are widely used across various end-use industries, such as banking, financial services, and insurance (BFSI), retail, and healthcare, which, in turn, is acting as another growth-inducing factor. Furthermore, increasing product utilization for research purposes that assist companies in enhancing user experience, launching new products, or improvising the older models per the consumer requirements is providing a considerable boost to the market growth. Additionally, the introduction of the deep neural network to understand the deeper semantic meaning of user input and provide accurate results by analyzing texts, sounds, and images is creating a positive outlook for the market. Moreover, the emerging trend of e-commerce platforms for a seamless shopping experience, the growing need to enhance a website’s organic visibility, and increasing brand awareness are positively influencing the market growth. Other factors, including the rapid proliferation of smartphones, coupled with increasing internet penetration, extensive research and development (R&D) activities in computer sciences, and the integration of self-service options, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 38.3 Billion by 2032, exhibiting a CAGR of 11.8% during 2024-2032.

Market Summary:

  • On the basis of the platform type, the market has been divided into mobile and desktop.
  • Based on the end user, the market has been bifurcated into personal and commercial.
  • On the basis of distribution channel, the market has been classified into online and offline.
  • On a regional basis, the market has been categorized into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), and Middle East and Africa.
  • The competitive landscape of the industry has also been examined, with some of the key players being Alibaba Group, Inc., Apple Inc., (IAC), Baidu Inc., Duck Duck Go Inc., Facebook Inc., Google LLC (Alphabet Inc.), Microsoft Corporation and Yahoo (Verizon Communications Inc.).

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Platform Type, End User, Distribution Channel, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Alibaba Group, Inc., Apple Inc., (IAC), Baidu Inc., Duck Duck Go Inc., Facebook Inc., Google LLC (Alphabet Inc.), Microsoft Corporation and Yahoo (Verizon Communications Inc.)
Customization Scope 10% Free Customization
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Post-Sale Analyst Support 10-12 Weeks
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Global Next Generation Search Engines Market to Reach US$ 38.3 Billion by 2032, Impelled by Increasing Demand for Virtual Assistants
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