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Search’s share grows
After a huge spike in 2021, US search ad spending growth slowed down a bit this year, though it will remain in the double digits through 2023. Marketers will continue to allocate more of their budgets on paid search through 2026, when it will account for 30% of total media ad spending.
Google’s got the top spot for the moment
When it comes to search, Google is king. This year, its ad revenues will total over $137 billion, representing a whopping 56.1% of total search ad spending.
Amazon is coming
While Google still reigns, Amazon is coming for its crown. Insider Intelligence has predicted that the ecommerce giant will rake in $24.4 billion in ad revenues next year, growing its share of total ad spending to nearly 25%.
Search behaviors are changing
Amazon has an edge over Google in one way: almost two-thirds of US consumers begin their online shopping search on the retailer’s platform as compared to 49% who do so on a search engine. Social media platforms are getting into the search mix too including YouTube, Facebook, Instagram, and TikTok.
Are people ready for the next new thing?
One of the ways Google has attempted to enhance its search offerings is by making its feed more visual. In an August 2022 survey, only 8% of US adults reported they currently use visual search retail shopping technology, while 41% said they were either somewhat or very interested in doing so.
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