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For the awesome marketers here, how do you gauge market size of an industry based on keyword volume/research?

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For the awesome marketers here, how do you gauge market size of an industry based on keyword volume/research? Is that something you can estimate by simply checking keywords in SEMRush or Ahrefs? Thank you in advance for the valuable insights.  
For the awesome marketers here, how do you gauge market size of an industry based on keyword volume/

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