Market Share of Next Generation Search Engines Industry
The market faces intense competition, primarily driven by technological innovation as a pivotal growth factor. It maintains a moderate level of concentration, featuring industry leaders such as Amazon, Google, and Apple. Several noteworthy developments have recently taken place:
In May 2023, Google Inc. unveiled plans for an AI-integrated search engine results page. This innovative search engine is currently in its testing phase and promises AI-generated topic summaries that will appear above the conventional search results. Additionally, it will include a highlighted background section, with its color dynamically adjusting according to the user's search intent.
In September 2022, Gen Z entered into a strategic partnership with TikTok to introduce a new search engine. This collaboration leverages TikTok's powerful algorithm, effectively tailored to the preferences of younger users. Notably, this search engine differentiates itself by offering content synthesized and delivered by real individuals on the platform rather than anonymous websites.
Next Generation Search Engines Market Leaders
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Amazon.com Inc.
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Apple Inc.
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Google LLC (Alphabet Inc.)
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Bose Corporation
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Xiaomi Inc
*Disclaimer: Major Players sorted in no particular order
