Next Generation Search Engines Market by End-user Verticals (Personal, and Commercial), Distribution Channels (Online, and Offline), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

The global next generation search engines market size was valued at USD 20.45 billion in 2020 and expand at a robust CAGR during the forecast period, 2021–2028. The growth of the market is attributed to AI developments such as deep learning models, machine learning, and other AI technologies.

Search engines, in essence, serve as filters for the vast amount of information available on the internet. They enable visitors to swiftly and easily access material that is of true interest or worth, without having to sift through a plethora of useless web pages.

Recent advances in computer science, Web technologies, and the ever-changing information available on the Internet have significantly altered the landscape of information search and access. Next generation search engines, often known as advanced search engines, integrate new technology such as voice and picture searches. They depend on machine learning (ML), semantic analysis, and artificial intelligence (AI) capabilities to speed up and simplify information retrieval.

Millennials population become more digital-savvy, there is a rising need for search engines and corporate behemoths to protect their customers privacy. User behavior centered on online information seeking and discovery has never been more complicated. Instant gratification has become the norm in today's culture, thanks to the wealth of information. For the first time, according to a Sparktoro survey, more over half of Google searches finish without a click on an organic or sponsored search result.

BBSEs (Blockchain Technology-based Search Engines) are one approach. BBSEs, unlike Google, do not have centralized control. Instead, they're dispersed among a lot of networks. Your search history or other data kept on a blockchain-based search engine will be inaccessible to any corporation.

All of this data will be stored on blockchains. In other words, rather than Google or Microsoft, you will have complete control over your data. Some blockchain-based search engines go even further than providing users with a private key to protect their personal information.

Blockchain-based search engines are growing increasingly popular as more people grasp the benefits of a decentralized blockchain.

Because of the increasing popularity of devices equipped with voice assistants such as Amazon's Alexa, the number of voice searches has increased exponentially. Because of developments in speech recognition technology, these searches are quicker and more convenient than text searches.

More individuals are now adopting digital assistants developed by major technology companies, such as Apple's Siri, Google Now, Microsoft's Cortana, and Amazon's Alexa. The advancement of these systems, as well as recent advances in their capacity to read natural language queries, have made voice search easier and more accurate.

Artificial intelligence (AI) and, in particular, Natural Language Processing (NLP), can assist us in validating both the quality of website content and the capacity of search engines to digest it. Pragnakalp Techlabs recently shown the ability of a machine to answer queries in different languages, including Arabic, based on the type of material.

Market Trends, Drivers, Restraints, and Opportunities

• Increasing digital content and rising internet user are projected to boost the market growth during the forecast period
• Rapid smart homes development are major factors boosting the market expansion in the coming years.
• Growing use of voice-activated speakers is expected to propel the market.
• Companies and corporates looking for secure search engines is anticipated to drive the market.
• Rising mobile phone user and online buyers is projected to fuel the market in coming years.
• Growth & development in data science industry is key factors driving the market expansion during the forecast period.
• Data breach and data leaks are expected to hamper the market growth.
• Rising digitalization and increase usage of artificial intelligence is expected to create an lucrative opportunity for the market players.

Scope of the Report

The report on the global next generation search engines market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Next Generation Search Engines Market Segment Insights

The personal segment is projected to hold a large market share

Based on end-user verticals, the next generation search engines market is segregated into personal, and commercial. The personal segment is expected to account for a key share of the market during the forecast period owing to rising use of AI-powered voice assistants are becoming more popular. Siri, Alexa, and Google Assistant are examples of technologies that are found in almost every home.

The online segment is expected to grow at a robust pace

on the basis of distribution channels, the next generation search engines market is divided into online, and offline. The online segment is expected to represent a key share of the market in the coming years due to rising e-commerce website and online shopper population.

Asia Pacific is anticipated to dominate the market

On the basis of regions, the next generation search engines market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to China and India growing voice assistance product demand.

Segments

Segments Covered in the Report
The global next generation search engines market has been segmented on the basis of
End-user Verticals

• Personal
• Commercial

Distribution Channels

• Online
• Offline

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Alibaba Group;
• Baidu Inc.
• Apple Inc.
• Google LLC (Alphabet Inc.)
• Amazon.com Inc

Competitive Landscape

Key players competing in the next generation search engines market include Alibaba Group;  Baidu Inc.; Apple Inc.; Google LLC (Alphabet Inc.); Amazon.com Inc

Some of these players are focusing on business strategies including partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance

In June 2020, Google has announced the expansion of its artificial intelligence-based voice assistant, Google Assistant, to a number of new gadgets. Speech match is the most essential of these characteristics, since it allows smart speakers to identify a specific user's voice and tailor answers appropriately.