Global Information Inc. would like to present a new market research report, "Mobile Search: Growth of Voice and Local Search Challenge the Dominance of Google" by Pyramid Research, Inc..
The booming smartphone market is creating increasing demand for mobile Internet service. Search is a crucial way of finding information on the mobile platform. According to Jan ten Sythoff, an analyst at large for Pyramid, "today [mobile search] is a dynamic, growing opportunity. Total mobile search revenue will reach $8 billion in 2015, equivalent to around 11 percent of total search revenues and representing a CAGR of 55 percent. Mobile search makes up around a quarter of total mobile advertising revenue, but this will increase rapidly and is forecast to exceed 40 percent in 2015."
Google has a strong position in mobile search; however it remains unclear whether or not the search giant will be as dominant as it is on the desktop. New trends such as voice and local search are key drivers of the mobile search market.
Location is key element of mobile search
A range of established and new players are emerging to challenging Googles dominance in the mobile advertising market. "There is much interest in taking a share of local advertising spending, which is dominated by business listings, directories such as YellowPages and print. Competition is intensifying as companies from different industries are drawn into it [considering] the combination of mobile and location is a powerful one, and is particularly relevant for search," notes ten Sythoff.
- Mobile search makes up approximately a quarter of total mobile advertising revenue and is forecast to exceed 40% in 2015.
- Voice and local search are key trends providing opportunities for new and established players.
- Operators and handset vendors hold strong positions in the value chain to influence success of mobile services.
- Total mobile search revenue will be equivalent to nearly 11% of total search revenues in 2015.
- In 2015, Mobile search revenue will post a compound annual growth rate (CAGR) of 55%.