Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

Google search market share fell in May: BofA

Published 06/04/2024, 10:47 AM
Updated 06/04/2024, 10:49 AM
Google search market share fell in May: BofA
MSFT
-
GOOGL
-

Google’s (GOOGL) global search market share fell in May by 0.11% month-over-month to 90.8%, BofA analysts said, citing Statcounter data. Compared to the same period last year, the decline amounts to 2.31%.

Microsoft's (NASDAQ:MSFT) Bing, on the other hand, experienced a small increase in share compared to both the previous month (up 0.08%) and the past year (up 0.95%), lifting its market share to 3.7%.

Other search engines, including Yandex, Baidu, Naver, DuckDuckGo, and others, saw a minor decline in share compared to the previous month (down 0.03%) but a slight increase year-over-year (up 1.30%), capturing a combined 4.3% of the market.

The mobile search landscape shows a similar trend. Google (NASDAQ:GOOGL)'s mobile share dipped 5 basis points (bps) to 94.8%, while Bing's mobile share rose marginally.

In the US, Google’s share grew 56 basis points on a monthly basis, with mobile share rising 40 bps and desktop down 35bps.

“After consecutive 8 months of decline, Google’s US Search market share increased m/m in May which could suggest AI overviews are aiding query growth & usage,” analysts wrote.

“We remain constructive on growing Gemini integration across the Google ecosystem & think broader AI overviews rollout will likely help drive higher usage & incremental ad spend over time. Moreover, with a focus on expense management, we think y/y margin growth in 2024 will be a bright spot & potential EPS upside driver.”

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.