I'd love to hear you expand on this thought...
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...as new technology will introduce new search terms, reducing competition for existing terms.
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Clearly as new products show up, there will be new things to search for, but in reality, there will come a point where there aren't really new search terms being created UNLESS they are for new products.
Searchers are becoming more savvy, as demonstrated by the shift from generic phrases to more specific phrases. It's why 3-word phrases are the most searched for combination these days.
So yes, there has been a growth recently in more specific searches, but as I see it, that can only go so far. Additionally, the increase in searches draws a parallel to the amount of information available. Here's why...
Let's say that I'm looking to buy a used subaru.
If I search for "cars" I'm unlikely to find what I'm looking for.
If I search for "used cars" I'm getting closer.
If I search for "used subaru" I'm still closer. I may even find what I'm looking for. If I dont', I further tailor my search...
Let's say I search for used 1990 subaru outback. If there's content there to match what I'm looking for, then I'm going to end my search and follow the content.
If there isn't, I'm going to tailor it again...say to "used 1990 subaru outback in ohio".
So as I see it, as more sites start to target the more specific phrases, it becomes more likely that people will find what they are looking for, thus negating their need to develop more specific/niche style phrases. But, as long as they don't find what they are looking for, they ARE going to create more specific searches, which creates more opportunities to target keywords.
See where I'm going with this?