The pay-per-click bid management technology market will grow by 14% in 2010 as search marketing continues to become more competitive and more complex, according to a report published by Econsultancy.
The SEMPO State of Search Engine Marketing Report, published by Econsultancy earlier this year, valued the North American search marketing industry at $14.6 billion for 2009, and predicted growth of 14% in 2010 to a figure of $16.6 billion.
According to the new PPC Bid Management Technology Buyer’s Guide 2010, the US and UK markets for bid management technology specifically will grow in line with the overall search marketing sector.
Jake Hird, Econsultancy’s Senior Research Analyst, said: “As budgets have become more significant and the stakes have become higher, the number of advertisers paying for bid management and related search marketing technology has increased accordingly.
“With the search market continuing to grow in both value and volume of searches carried out by consumers, there is more demand for technology to establish, manage and optimize paid search campaigns.”