A search engine is a software system that is designed to carry out web searches. They search the World Wide Web in a systematic way for particular information specified in a textual web search query.

The latest research study released by Market IntelliX evaluates market size and forecasts of Search Engine in Global, including the following market information:

Global Search Engine Market Revenue, 2017-2022, 2023-2028, ($ millions)

Global top five companies in 2021 (%)

The global Search Engine market was valued at 171850 million in 2021 and is projected to reach US$ 346710 million by 2028, at a CAGR of 10.5% during the forecast period 2022-2028.

The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.

Crawler Search Engine Segment to Reach $ Million by 2028, with a % CAGR in next six years.

The global key manufacturers of Search Engine include Google, Baidu, Microsoft, Yahoo!, Yandex, IAC, DuckDuckGo, Hulbee and System1, etc. In 2021, the global top five players have a share approximately % in terms of revenue.

MI has surveyed the Search Engine companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.

Market Segmentations:

Global Search Engine Market, by Type, 2017-2022, 2023-2028 ($ millions)

Global Search Engine Market Segment Percentages, by Type, 2021 (%)

Crawler Search Engine

Meta Search Engine

Global Search Engine Market, by End Users, 2017-2022, 2023-2028 ($ millions)

Global Search Engine Market Segment Percentages, by End Users, 2021 (%)

Large Enterprises

SMEs

Global Search Engine Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)

Global Search Engine Market Segment Percentages, By Region and Country, 2021 (%)

North America

US

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Russia

Nordic Countries

Benelux

Rest of Europe

Asia

China

Japan

South Korea

Southeast Asia

India

Rest of Asia

South America

Brazil

Argentina

Rest of South America

Middle East & Africa

Turkey

Israel

Saudi Arabia

UAE

Rest of Middle East & Africa

Competitor Analysis

The report also provides analysis of leading market participants including:

Key companies Search Engine revenues in global market, 2017-2022 (estimated), ($ millions)

Key companies Search Engine revenues share in global market, 2021 (%)

The report presents profiles of competitors in the market Some of the prominent key players covered:

Google

Baidu

Microsoft

Yahoo!

Yandex

IAC

DuckDuckGo

Hulbee

System1

Naver

Kakao

Key Takeaways from this Report

Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.

Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.

Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.

Analyze the sales and distribution channels across key geographies to improve top-line revenues.

Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.

Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.

Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.

1 Introduction to Research & Analysis Reports

1.1 Search Engine Market Definition

1.2 Market Segments

1.2.1 Market by Type

1.2.2 Market by End Users

1.3 Global Search Engine Market Overview

1.4 Features & Benefits of This Report

1.5 Methodology & Sources of Information

1.5.1 Research Methodology

1.5.2 Research Process

1.5.3 Base Year

1.5.4 Report Assumptions & Caveats

2 Global Search Engine Overall Market Size

2.1 Global Search Engine Market Size: 2021 VS 2028

2.2 Global Search Engine Market Size, Prospects & Forecasts: 2017-2028

2.3 Key Market Trends, Opportunity, Drivers and Restraints

2.3.1 Market Opportunities & Trends

2.3.2 Market Drivers

2.3.3 Market Restraints

3 Company Landscape

3.1 Top Search Engine Players in Global Market

3.2 Top Global Search Engine Companies Ranked by Revenue

3.3 Global Search Engine Revenue by Companies

3.4 Top 3 and Top 5 Search Engine Companies in Global Market, by Revenue in 2021

3.5 Global Companies Search Engine Product Type

3.6 Tier 1, Tier 2 and Tier 3 Search Engine Players in Global Market

3.6.1 List of Global Tier 1 Search Engine Companies

3.6.2 List of Global Tier 2 and Tier 3 Search Engine Companies

4 Market Sights by Product

4.1 Overview

4.1.1 by Type - Global Search Engine Market Size Markets, 2021 & 2028

4.1.2 Crawler Search Engine

4.1.3 Meta Search Engine

4.2 By Type - Global Search Engine Revenue & Forecasts

4.2.1 By Type - Global Search Engine Revenue, 2017-2022

4.2.2 By Type - Global Search Engine Revenue, 2023-2028

4.2.3 By Type - Global Search Engine Revenue Market Share, 2017-2028

5 Sights by Application

5.1 Overview

5.1.1 By Application - Global Search Engine Market Size, 2021 & 2028

5.1.2 Large Enterprises

5.1.3 SMEs

5.2 By End Users - Global Search Engine Revenue & Forecasts

5.2.1 By End Users - Global Search Engine Revenue, 2017-2022

5.2.2 By End Users - Global Search Engine Revenue, 2023-2028

5.2.3 By End Users - Global Search Engine Revenue Market Share, 2017-2028

6 Sights by Region

6.1 By Region - Global Search Engine Market Size, 2021 & 2028

6.2 By Region - Global Search Engine Revenue & Forecasts

6.2.1 By Region - Global Search Engine Revenue, 2017-2022

6.2.2 By Region - Global Search Engine Revenue, 2023-2028

6.2.3 By Region - Global Search Engine Revenue Market Share, 2017-2028

6.3 North America

6.3.1 By Country - North America Search Engine Revenue, 2017-2028

6.3.2 US Search Engine Market Size, 2017-2028

6.3.3 Canada Search Engine Market Size, 2017-2028

6.3.4 Mexico Search Engine Market Size, 2017-2028

6.4 Europe

6.4.1 By Country - Europe Search Engine Revenue, 2017-2028

6.4.2 Germany Search Engine Market Size, 2017-2028

6.4.3 France Search Engine Market Size, 2017-2028

6.4.4 U.K. Search Engine Market Size, 2017-2028

6.4.5 Italy Search Engine Market Size, 2017-2028

6.4.6 Russia Search Engine Market Size, 2017-2028

6.4.7 Nordic Countries Search Engine Market Size, 2017-2028

6.4.8 Benelux Search Engine Market Size, 2017-2028

6.5 Asia

6.5.1 By Region - Asia Search Engine Revenue, 2017-2028

6.5.2 China Search Engine Market Size, 2017-2028

6.5.3 Japan Search Engine Market Size, 2017-2028

6.5.4 South Korea Search Engine Market Size, 2017-2028

6.5.5 Southeast Asia Search Engine Market Size, 2017-2028

6.5.6 India Search Engine Market Size, 2017-2028

6.6 South America

6.6.1 By Country - South America Search Engine Revenue, 2017-2028

6.6.2 Brazil Search Engine Market Size, 2017-2028

6.6.3 Argentina Search Engine Market Size, 2017-2028

6.7 Middle East & Africa

6.7.1 By Country - Middle East & Africa Search Engine Revenue, 2017-2028

6.7.2 Turkey Search Engine Market Size, 2017-2028

6.7.3 Israel Search Engine Market Size, 2017-2028

6.7.4 Saudi Arabia Search Engine Market Size, 2017-2028

6.7.5 UAE Search Engine Market Size, 2017-2028

7 Players Profiles

7.1 Google

7.1.1 Google Corporate Summary

7.1.2 Google Business Overview

7.1.3 Google Search Engine Major Product Offerings

7.1.4 Google Search Engine Revenue in Global Market (2017-2022)

7.1.5 Google Key News

7.2 Baidu

7.2.1 Baidu Corporate Summary

7.2.2 Baidu Business Overview

7.2.3 Baidu Search Engine Major Product Offerings

7.2.4 Baidu Search Engine Revenue in Global Market (2017-2022)

7.2.5 Baidu Key News

7.3 Microsoft

7.3.1 Microsoft Corporate Summary

7.3.2 Microsoft Business Overview

7.3.3 Microsoft Search Engine Major Product Offerings

7.3.4 Microsoft Search Engine Revenue in Global Market (2017-2022)

7.3.5 Microsoft Key News

7.4 Yahoo!

7.4.1 Yahoo! Corporate Summary

7.4.2 Yahoo! Business Overview

7.4.3 Yahoo! Search Engine Major Product Offerings

7.4.4 Yahoo! Search Engine Revenue in Global Market (2017-2022)

7.4.5 Yahoo! Key News

7.5 Yandex

7.5.1 Yandex Corporate Summary

7.5.2 Yandex Business Overview

7.5.3 Yandex Search Engine Major Product Offerings

7.5.4 Yandex Search Engine Revenue in Global Market (2017-2022)

7.5.5 Yandex Key News

7.6 IAC

7.6.1 IAC Corporate Summary

7.6.2 IAC Business Overview

7.6.3 IAC Search Engine Major Product Offerings

7.6.4 IAC Search Engine Revenue in Global Market (2017-2022)

7.6.5 IAC Key News

7.7 DuckDuckGo

7.7.1 DuckDuckGo Corporate Summary

7.7.2 DuckDuckGo Business Overview

7.7.3 DuckDuckGo Search Engine Major Product Offerings

7.7.4 DuckDuckGo Search Engine Revenue in Global Market (2017-2022)

7.7.5 DuckDuckGo Key News

7.8 Hulbee

7.8.1 Hulbee Corporate Summary

7.8.2 Hulbee Business Overview

7.8.3 Hulbee Search Engine Major Product Offerings

7.8.4 Hulbee Search Engine Revenue in Global Market (2017-2022)

7.8.5 Hulbee Key News

7.9 System1

7.9.1 System1 Corporate Summary

7.9.2 System1 Business Overview

7.9.3 System1 Search Engine Major Product Offerings

7.9.4 System1 Search Engine Revenue in Global Market (2017-2022)

7.9.5 System1 Key News

7.10 Naver

7.10.1 Naver Corporate Summary

7.10.2 Naver Business Overview

7.10.3 Naver Search Engine Major Product Offerings

7.10.4 Naver Search Engine Revenue in Global Market (2017-2022)

7.10.5 Naver Key News

7.11 Kakao

7.11.1 Kakao Corporate Summary

7.11.2 Kakao Business Overview

7.11.3 Kakao Search Engine Major Product Offerings

7.11.4 Kakao Search Engine Revenue in Global Market (2017-2022)

7.11.5 Kakao Key News

8 Conclusion

9 Appendix

9.1 Note

9.2 Examples of Clients

9.3 Disclaimer

List of Tables

Table 1. Search Engine Market Opportunities & Trends in Global Market

Table 2. Search Engine Market Drivers in Global Market

Table 3. Search Engine Market Restraints in Global Market

Table 4. Key Players of Search Engine in Global Market

Table 5. Top Search Engine Players in Global Market, Ranking by Revenue (2021)

Table 6. Global Search Engine Revenue by Companies, (US$, Mn), 2017-2022

Table 7. Global Search Engine Revenue Share by Companies, 2017-2022

Table 8. Global Companies Search Engine Product Type

Table 9. List of Global Tier 1 Search Engine Companies, Revenue (US$, Mn) in 2021 and Market Share

Table 10. List of Global Tier 2 and Tier 3 Search Engine Companies, Revenue (US$, Mn) in 2021 and Market Share

Table 11. By Type – Global Search Engine Revenue, (US$, Mn), 2021 & 2028

Table 12. By Type - Search Engine Revenue in Global (US$, Mn), 2017-2022

Table 13. By Type - Search Engine Revenue in Global (US$, Mn), 2023-2028

Table 14. By End Users – Global Search Engine Revenue, (US$, Mn), 2021 & 2028

Table 15. By End Users - Search Engine Revenue in Global (US$, Mn), 2017-2022

Table 16. By End Users - Search Engine Revenue in Global (US$, Mn), 2023-2028

Table 17. By Region – Global Search Engine Revenue, (US$, Mn), 2021 & 2028

Table 18. By Region - Global Search Engine Revenue (US$, Mn), 2017-2022

Table 19. By Region - Global Search Engine Revenue (US$, Mn), 2023-2028

Table 20. By Country - North America Search Engine Revenue, (US$, Mn), 2017-2022

Table 21. By Country - North America Search Engine Revenue, (US$, Mn), 2023-2028

Table 22. By Country - Europe Search Engine Revenue, (US$, Mn), 2017-2022

Table 23. By Country - Europe Search Engine Revenue, (US$, Mn), 2023-2028

Table 24. By Region - Asia Search Engine Revenue, (US$, Mn), 2017-2022

Table 25. By Region - Asia Search Engine Revenue, (US$, Mn), 2023-2028

Table 26. By Country - South America Search Engine Revenue, (US$, Mn), 2017-2022

Table 27. By Country - South America Search Engine Revenue, (US$, Mn), 2023-2028

Table 28. By Country - Middle East & Africa Search Engine Revenue, (US$, Mn), 2017-2022

Table 29. By Country - Middle East & Africa Search Engine Revenue, (US$, Mn), 2023-2028

Table 30. Google Corporate Summary

Table 31. Google Search Engine Product Offerings

Table 32. Google Search Engine Revenue (US$, Mn), (2017-2022)

Table 33. Baidu Corporate Summary

Table 34. Baidu Search Engine Product Offerings

Table 35. Baidu Search Engine Revenue (US$, Mn), (2017-2022)

Table 36. Microsoft Corporate Summary

Table 37. Microsoft Search Engine Product Offerings

Table 38. Microsoft Search Engine Revenue (US$, Mn), (2017-2022)

Table 39. Yahoo! Corporate Summary

Table 40. Yahoo! Search Engine Product Offerings

Table 41. Yahoo! Search Engine Revenue (US$, Mn), (2017-2022)

Table 42. Yandex Corporate Summary

Table 43. Yandex Search Engine Product Offerings

Table 44. Yandex Search Engine Revenue (US$, Mn), (2017-2022)

Table 45. IAC Corporate Summary

Table 46. IAC Search Engine Product Offerings

Table 47. IAC Search Engine Revenue (US$, Mn), (2017-2022)

Table 48. DuckDuckGo Corporate Summary

Table 49. DuckDuckGo Search Engine Product Offerings

Table 50. DuckDuckGo Search Engine Revenue (US$, Mn), (2017-2022)

Table 51. Hulbee Corporate Summary

Table 52. Hulbee Search Engine Product Offerings

Table 53. Hulbee Search Engine Revenue (US$, Mn), (2017-2022)

Table 54. System1 Corporate Summary

Table 55. System1 Search Engine Product Offerings

Table 56. System1 Search Engine Revenue (US$, Mn), (2017-2022)

Table 57. Naver Corporate Summary

Table 58. Naver Search Engine Product Offerings

Table 59. Naver Search Engine Revenue (US$, Mn), (2017-2022)

Table 60. Kakao Corporate Summary

Table 61. Kakao Search Engine Product Offerings

Table 62. Kakao Search Engine Revenue (US$, Mn), (2017-2022)

List of Figures

Figure 1. Search Engine Segment by Type in 2021

Figure 2. Search Engine Segment by End Users in 2021

Figure 3. Global Search Engine Market Overview: 2021

Figure 4. Key Caveats

Figure 5. Global Search Engine Market Size: 2021 VS 2028 (US$, Mn)

Figure 6. Global Search Engine Revenue, 2017-2028 (US$, Mn)

Figure 7. The Top 3 and 5 Players Market Share by Search Engine Revenue in 2021

Figure 8. By Type - Global Search Engine Revenue Market Share, 2017-2028

Figure 9. By End Users - Global Search Engine Revenue Market Share, 2017-2028

Figure 10. By Region - Global Search Engine Revenue Market Share, 2017-2028

Figure 11. By Country - North America Search Engine Revenue Market Share, 2017-2028

Figure 12. US Search Engine Revenue, (US$, Mn), 2017-2028

Figure 13. Canada Search Engine Revenue, (US$, Mn), 2017-2028

Figure 14. Mexico Search Engine Revenue, (US$, Mn), 2017-2028

Figure 15. By Country - Europe Search Engine Revenue Market Share, 2017-2028

Figure 16. Germany Search Engine Revenue, (US$, Mn), 2017-2028

Figure 17. France Search Engine Revenue, (US$, Mn), 2017-2028

Figure 18. U.K. Search Engine Revenue, (US$, Mn), 2017-2028

Figure 19. Italy Search Engine Revenue, (US$, Mn), 2017-2028

Figure 20. Russia Search Engine Revenue, (US$, Mn), 2017-2028

Figure 21. Nordic Countries Search Engine Revenue, (US$, Mn), 2017-2028

Figure 22. Benelux Search Engine Revenue, (US$, Mn), 2017-2028

Figure 23. By Region - Asia Search Engine Revenue Market Share, 2017-2028

Figure 24. China Search Engine Revenue, (US$, Mn), 2017-2028

Figure 25. Japan Search Engine Revenue, (US$, Mn), 2017-2028

Figure 26. South Korea Search Engine Revenue, (US$, Mn), 2017-2028

Figure 27. Southeast Asia Search Engine Revenue, (US$, Mn), 2017-2028

Figure 28. India Search Engine Revenue, (US$, Mn), 2017-2028

Figure 29. By Country - South America Search Engine Revenue Market Share, 2017-2028

Figure 30. Brazil Search Engine Revenue, (US$, Mn), 2017-2028

Figure 31. Argentina Search Engine Revenue, (US$, Mn), 2017-2028

Figure 32. By Country - Middle East & Africa Search Engine Revenue Market Share, 2017-2028

Figure 33. Turkey Search Engine Revenue, (US$, Mn), 2017-2028

Figure 34. Israel Search Engine Revenue, (US$, Mn), 2017-2028

Figure 35. Saudi Arabia Search Engine Revenue, (US$, Mn), 2017-2028

Figure 36. UAE Search Engine Revenue, (US$, Mn), 2017-2028

Figure 37. Google Search Engine Revenue Year Over Year Growth (US$, Mn) & (2017-2022)

Figure 38. Baidu Search Engine Revenue Year Over Year Growth (US$, Mn) & (2017-2022)

Figure 39. Microsoft Search Engine Revenue Year Over Year Growth (US$, Mn) & (2017-2022)

Figure 40. Yahoo! Search Engine Revenue Year Over Year Growth (US$, Mn) & (2017-2022)

Figure 41. Yandex Search Engine Revenue Year Over Year Growth (US$, Mn) & (2017-2022)

Figure 42. IAC Search Engine Revenue Year Over Year Growth (US$, Mn) & (2017-2022)

Figure 43. DuckDuckGo Search Engine Revenue Year Over Year Growth (US$, Mn) & (2017-2022)

Figure 44. Hulbee Search Engine Revenue Year Over Year Growth (US$, Mn) & (2017-2022)

Figure 45. System1 Search Engine Revenue Year Over Year Growth (US$, Mn) & (2017-2022)

Figure 46. Naver Search Engine Revenue Year Over Year Growth (US$, Mn) & (2017-2022)

Figure 47. Kakao Search Engine Revenue Year Over Year Growth (US$, Mn) & (2017-2022)

Methodology/Research Approach

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Research Programs/Design

Historical Data (2015-2019)	Industry Trends Competitive Landscape By Company Expansion Mergers and Acquisitions Market Segment by Type by Application By Regions/ Geography	Value Status and Outlook Value for Major Players Market Share Growth Rate Present Situation Analysis Value Market Share Growth Rate Present Situation Analysis
Influencing Factors	Market Environment Government Policy Technological Changes Market Risks	Market Drivers Growing Demand of Downstream Reduction in Cost
Market Forecast (2021-2026)	Overall Size by Type by Application By Regions/Geography	Key Data (Value) Market Share Growth Rate CAGR (2021-2026)

Market Size Estimation

Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).

The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.

Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report

The following figure shows an illustrative representation of the overall market size estimation process used for this study.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.

Data Source

Secondary Sources

Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.

Market Size	Segmental value Geographic Penetration Product Adoption Rate for Different market	Journals, Websites, and Press Releases Annual Reports and SEC Filings Company Websites and Press Releases Public and Paid Databases Market Intellix Data Repository
Market Position of Top Company	Product Financials Geographic value Mix Total Company value Business/Segmental value Mix
Qualitative Analysis	Influence Factors Market Potential Market Risks and Opportunities Industry Trends Geographical Features Government Policies	Company Websites and Press Releases Public and Paid Databases Annual Reports Industry Associations Market Intellix Data Repository

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.

Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.

Key Executives Interviewed

Key Data Information from Primary Sources

Primary Sources	Parameters	Key Data
Market Segments(by Application, by Type)	Value by Type Status and Forecast Value by Application Value by Regions, Status and Forecast (2021-2026)	Value Market Share by Type Value Growth Rate by Type Value by Application Percentage and Growth Rate by Application Value Growth Rate and Market Share by Regions Market Size Status and Forecast (2021-2026)
Total Market	Overall Size, Status and Forecast	Market Size Status and Forecast (2021-2026)