How do websites generate revenue? A WordPress value research exposes the huge sums involved.
Having a website, whether as a high-impact sales channel or a display for your firm, may assist raise revenues regardless of company size, and especially now as the digital transition intensifies following Covid.
WP Engine, a WordPress technology company, recently published an in-depth study that estimated the combined global economy for WordPress, which is now the primary content management system powering the internet, at £421 billion in 2020, with expectations to grow to £445 billion by the end of this year.
The study looked at the ecosystem’s economic worth as well as the social impact of the growing community of open source developers, organizations, and users.
The study, commissioned by WP Engine and conducted by Dr Chris Brauer, director of Innovation at Goldsmiths University of London’s Institute of Management Studies (IMS), and market researcher Vanson Bourne in the United States, the United Kingdom, and Australia, evaluated the economic value and social impact of WordPress and included a broad review of academic and industry literature, 400 businesses, and 400 individuals.
“With more than 41%, WordPress is already the most widespread site type on the Web,” stated Heather Brunner, chairperson and CEO of WP Engine. We expect WordPress will surpass 50% in the future as it continues to play an increasingly important role in allowing individuals and businesses of all kinds to interact, collaborate, and accelerate their business growth using this great open source platform.
“Because there is currently no valid benchmark value of the WordPress economy, we needed to invent a technique and solution to arrive at a reliable assessment,” Dr. Brauer explained.
“Through this approach, we developed a model that not only accounted for WordPress’ monetary value, but also valued the intangible contribution of the open source community as well as exogenous circumstances beyond the market’s control, such as the pandemic.”