A recent study deemed Google the leader in search engine driven ecommerce. According to a report released by Random Secrecy today Google’s dominance in the Search & Buy eCommerce Market is driven by its exceptional estimated revenues for the past three consecutive years, 2001 – 2003, as it enjoys the strongest growth in user base.
As the market leader, Google has redefined the landscape in its core competency and is breaking the paradigm by search enabling e-commerce. The search platform promises to grow into a competitive venue amongst advertisers eager to take advantage of measuring ROI on advertising dollars as well as reaching greater audiences. The company has catapulted to the top of an intensely competitive market for paid inclusion, and search advertising dollars. Google is leading the market substantially due to its wide-ranging reach, and the effortless usability of their self-serve advertising tools.
On top of this sound business success, Google is rumored to be announcing plans for an IPO this week. Google has inched its way closer to filing and announcing its anticipated IPO (initial public offering) by chosing Morgan Stanley and Credit Suisse First Boston to be joint lead underwriters. According to a Wall Street Journal report, plans surrounding Google’s IPO will more than likely be announced within the week.
Random Secrecy predicts the use of search technologies exclusively for e-commerce purchases will exceed $35 billion in 2004, estimates the total market size will top $92 billion by 2008.
Google’s prominence is largely due to growth in advertisers eager to embrace search based advertising to reach the millions using its search engine. The online search advertising industry as a whole grew substantially in 2003 as use of search to locate information, goods, and services increased. The three major search providers, led by Google, included Yahoo and MSN, saw a marked jump in revenues due to this trend.