INTERNET
Internet markets
10 markets · zero marginal cost distribution · winner-take-most dynamics
AVG S1
52.0%
leader share
AVG CR3
78.1%
weighted 62.8%
AVG HHI
3,711
Highly concentrated
AVG REV/EMP
$1.5M
leader avg
AVG SG&A %
13%
of revenue (leader avg)
MARKETS
10
in category
Internet markets are the template for Aggregation Theory. Zero marginal cost distribution produced winner-take-most outcomes in search, social, browser, mobile OS, and e-commerce. Cloud infrastructure has settled into a stable 3-way oligopoly. The newer consumer marketplaces (ride-hailing, food delivery) show the same pattern emerging as they mature.
Markets ranked by S1 (click bar for calculation breakdown)
S1 vs CR3 structure map
Bottom-left = fragmented. Top-right = concentrated. Click dot for calculation →
Historical trends — key markets in Internet
5 representative markets. Solid = S1 (leader share), dashed = CR3 (top 3 share).
Metrics:Y-Axis:
Internet: Concentration Over Time
How concentrated is the average internet market? Solid = CR3 (top 3 share), dotted = S1 (leader share).
Metrics:Y-Axis:
What this shows: The solid line is CR3 — the average combined market share of the top 3 companies across 10 internet markets. The dotted line is S1 — the average share of the #1 company alone. Data spans 2000–2025. Markets included: Search Engines, Social Media, Digital Advertising, E-commerce, Web Browser, Mobile OS, Cloud Infrastructure, Streaming Video, Ride-hailing, Food Delivery.
All markets (10) — click any row for detail
MARKETLEADERS1CR3REV/EMPSG&ASIZE
Search Engines
3 meaningful firms
Google
84.1%
97.5%
$1.7M
12%
$300B
Ride-hailing
2 firms
Uber
74.0%
100.0%
$1.2M
16%
$50B
Mobile OS
2 firms
Android
72.8%
100.0%
$1.7M
12%
—
Web Browser
5 firms
Chrome
65.1%
88.5%
$1.7M
12%
—
Food Delivery
3 firms
DoorDash
65.0%
94.0%
$800K
28%
$75B
Social Media
8 firms
Meta (FB+IG)
42.0%
75.0%
$2.2M
12%
$80B
E-commerce
12 firms
Amazon
40.5%
50.5%
$400K
8%
$1200B
Cloud Infrastructure
8 firms
AWS
30.0%
63.0%
$600K
8%
$330B
Digital Advertising
10 firms
Google
23.9%
62.1%
$1.7M
12%
$280B
Streaming Video
10 firms
Netflix
23.0%
50.0%
$3.0M
11%
$50B
Data vintage: FY 2024 / FY 2025 · Next refresh: Q3 2026 (mid-FY26 10-Ks)
Source Quality Hierarchy
Every market has a primary source plus 1–3 validation sources. Revenue numerators come from SEC 10-K filings; denominators validated against the Economic Census where available.
TIER 1Authoritative anchorsGovernment data + SEC filings
US Economic Census (data.census.gov) · SEC EDGAR / Company 10-Ks · BEA Industry Value-Added (FRED) · BLS QCEW · USGS Mineral Commodity Summaries · EIA Refinery Capacity Report · FDA device listings
TIER 2Leading commercial trackersIndustry-standard paid trackers
IDC Semiannual Software Tracker · Gartner Market Share & Magic Quadrant · IBISWorld NAICS reports · StatCounter Global Stats · eMarketer / Insider Intelligence · Synergy Research Group
TIER 3Category specialistsBest-in-class niche authorities
SIPRI (aerospace & defense) · IQVIA (pharma) · TrendForce (semiconductors) · CIMdata (CAD/PLM) · Nilson Report (payments) · Am Law 100 (legal) · ENR Top 500 (A&E) · AM Best (insurance) · SIA (staffing) · Ad Age (agencies) · Barron's / Cerulli (wealth) · Evaluate MedTech · Nielsen Gauge (streaming) · Gridwise (ride-hail) · Bloomberg Second Measure (delivery) · RC Top 100 (roofing) · SDM Top 100 (fire/safety) · Big 4 annual reports · ALM Intelligence (consulting)
Data vintage: Q2 2025 research compilation. Labels updated 2026-Q2. Tier 1 sources refreshed from FY2025 SEC filings where available. For full methodology see the Methodology page.