"Bing has done reasonably well, given that Google is entrenched and customers are relatively satisfied," Enderle said. "They did better than any of the other challengers and gave Google a wake-up call. However, Google is hardly weakened -- Bing still needs to up their game."
Dan Olds, an analyst with Gabriel Consulting Group, said Bing's biggest challenge is overcoming Google's place as an embedded piece of online culture.
"Bing started out strong with a highly publicized introduction, which may have raised hopes that they'd make a bigger dent in Google's share," said Olds. "However, after the hoopla, the war has settled into trench warfare with small gains and losses on each side. Still Bing hasn't had bad results for only a year out and about as good as can be expected against a dominant and smart competitor like Google."
What could put a new spin on the picture is the fact that Microsoft and Yahoo have decided to combine their search businesses.
The two companies last summer announced plans to have Microsoft's Bing search engine power Yahoo's Web sites, while Yahoo sells premium search advertising services for both companies.
The Microsoft-Yahoo deal has since gained regulatory approval, and a joint engineering team was created to work on adapting Bing for the Yahoo site.
Both companies have said they hope the Bing engine is added to the Yahoo site, at least the United States, by the end of this year.
"The Microsoft and Yahoo partnership is almost certainly going to have an impact on Google and its strategy," said Olds. "The battle will be different. The two companies are a threat to Google now because they have staying power. They're not startups or dabblers. They're in it for the long haul now -- fully committed and willing to invest whatever it takes."
Sharon Gaudin covers the Internet and Web 2.0, emerging technologies, and desktop and laptop chips for Computerworld. Follow Sharon on Twitter at @sgaudin, or subscribe to Sharon's RSS feed . Her email address is email@example.com. Read more about internet search in Computerworld's Internet Search Topic Center.