The U.K. search engine marketing industry is growing at a phenomenal rate, and is estimated to be worth £1.41 billion ($2.6 billion) by the end of 2006, according to new findings released by E-consultancy.
This expected minimum growth of 65 percent for both paid and organic search comes after an incredible year in 2005, where £855 million ($1.7 billion) was spent on search engine marketing in the U.K, equal to a 100 percent growth rate from 2004 figures.
The Paid Search market, which comprises approximately 90 percent of the total market share, is anticipated to grow to £1.26 billion ($2.4 billion) by the end of this year, up 67 percent from 2005 (£757 million).
It is also predicted that Search Engine Optimization (SEO) will grow by approximately 50 percent from £98 million to£147 million ($276 million).
Along with this surge in search marketing spending, E-consultancy has also noted some interesting trends within the U.K. search market:
- Growth in the market for SEO services will continue to accelerate during 2006 as marketers increasingly realize the importance and value of organic listings.
- Marketers are becoming more savvy about Paid Search ROI.
- Search is increasingly being built into overall marketing plans as it becomes more strategic.
- There is increased awareness about the need for ethical SEO.
Source: E-consultancy, Search Marketing Buyer’s Guide 2006