Is an Apple search engine in the works?

Rumors are floating around the Web this week about a possible new search engine in the works by Apple. Let me be the first to say I hope they're not true.

A story published by tech blog TechCrunch Thursday cites "multiple (if thin) reports" claiming the Mac maker is developing its own search competitor. The story notes that Apple's Safari browser, which currently commands about 6.5 percent of the browser market, uses Google as its default search engine -- thereby handing off valuable real estate it could be using to its own advantage. While TechCrunch points out that Apple doesn't appear to be hiring search experts, it also notes that "the rumors persist" and many employees at other search companies have reported hearing the same rumblings.

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Like with most Internet-driven rumors, there's a strong chance we're hearing either a tiny part or a misleading distortion of the real story. In this instance, I'm hoping that's the case. Another search engine on the market is the last thing we need. My reasons?

1. The search market's already saturated.

We've already got Google, Microsoft, and Yahoo chomping for the piece of the pie -- not to mention players like Ask.com, AOL, and the slew of smaller and often forgotten companies. (Remember AltaVista?)

As it stands, all the players but Google are barely getting any of the action. Google's up to nearly two-thirds of the market while Yahoo's barely hanging on to 20 percent, Microsoft's sitting around 8, and the rest are barely making a dent, according to ComScore's ongoing analyses.

And it's not for lack of trying, either. Microsoft's attempted everything from giving away cash to now building a Facebook-like social base to try to lure people to its Live Search platform. So far, each of its efforts has failed -- Live Search has actually lost users since starting those promotions, while Google has continued to make gains. Do we really need yet another company clamoring for this already tapped-out market?