The results of a new, first-of-its-kind research study evaluating the combined worldwide economy for WordPress, which is predicted to increase to $635.5 billion by the end of 2021, were revealed by WP Engine, the world’s most trusted WordPress technology company.
As reported by Accenture Research and Oxford Economics, the digital economy accounts for around 22.5% of the world economy’s $87.74 trillion. It includes software, devices and infrastructure, IT and business services, new technologies, and telecom services. This means the digital economy is worth $19.73 trillion.
According to Market Data, websites account for a significant portion of the economic value created in the digital economy, which might be ascribed in part to WordPress’s foundational role in facilitating economic expressions and interactions.
WordPress is the most popular content management system (CMS) on the market, with a market share of 64.8%, which is much more than all of its competitors combined. WordPress is now used by over 41.4% of the Internet.
The Social Side of the Equation
The WordPress ecosystem’s growth is fueled not just by commercial factors, but also by social contributions. Social aspects boost the ecosystem’s value within the community, resulting in higher levels of innovation. Businesses may realize the full potential and advantages of WordPress by combining all of these factors: economic, social, and innovation.
As stated by Guy Martin, Executive Director of OASIS Open, the WordPress ecosystem, is based on the key ideas of “consume, contribute, and generate value.” WordPress, which is based on these ideas, pushes the frontiers of digital innovation toward an environment that recognizes how creating economic value is inevitably linked to achieving social impact.
Martin also said that “The secret sauce of open source is people—its community. And that to me has always been the most valuable piece of what open source is—building that community development model, building that ability to tap and harness people no matter where they are”.
For more information, read the entire “The Economic Value of WordPress” research here.
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