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Latest findings proving the point come from WordPress technology company WP Engine, Its in-depth study examined the combined global economy for WordPress, now the primary site powering the internet, and estimated that at £421 billion in 2020 with expectations to grow to £445 billion by the end of this year.
The research took in both the economic value of the WordPress ecosystem and the social impact of the expanding community of open source developers, agencies and users.
The study, commissioned by WP Engine and carried out in the US, the UK and Australia by Dr. Chris Brauer, Director of Innovation in the Institute of Management Studies (IMS) at Goldsmiths University of London and market researcher Vanson Bourne, assessed the economic value and the social impact of WordPress and included a wide review of academic and industry literature, 400 businesses and 400 WordPress end users.
Heather Brunner, chairwoman and CEO of WP Engine said: “At more than 41 percent, WordPress is already the most common site type on the Web. In the future, we expect WordPress to cross 50 percent as it plays an even larger role in providing individuals and businesses of all sizes an opportunity to connect, collaborate and accelerate their business growth through this incredible open source platform.
“As no reliable benchmark valuation of the WordPress economy currently exists, we needed to innovate a methodology and solution for arriving at a reliable valuation,” added Dr Brauer.
“In this process we created a model that not only accounted for WordPress’ financial value, but also measured the intangible contribution from the open source community and external factors that are beyond the market’s control such as the pandemic.”
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