Research firm “Research and Markets” has published a new report predicting that mobile search revenues will reach $8 billion by 2015, representing 11 percent of total search revenue.
While Google dominates desktop search, the mobile arena is still anyone’s game really. Growth in mobile search is being driven by two standout trends, according to the research, which include voice-based and local search. “While voice is becoming an important trend driving mobile search, language differences are likely to benefit local or first movers in different regions,” the research suggests. “The development of voice recognition into a personal digital assistant offers new opportunities and is being integrated into platforms and devices.”
The mobile search market generated roughly $901M in revenues in 2010, equivalent to around 3% of total search revenues. By 2015, when revenues are estimated to reach $8B, it will represent a CAGR of a whopping 55%. In addition, the research suggests that mobile search makes up around a quarter of total mobile advertising revenue, with it expected to exceed 40% in 2015. The full report is available here.