In its latest report, Juniper Research is looking at the mobile search and discovery market, forecasting that it will reach $15 billion by 2017, nearly three times it is expected to generate this year.
According to the report, the clickthrough and cost-per-click rates for search & discovery, including web search, local search, augmented reality search and discovery apps, are some of the highest in mobile advertising due to the fact that users are in the market for a discrete group of products or services, and can be accurately targeted by advertisers.
Although search engine providers like Google and Microsoft say a large percentage of web searches on mobile are localized, Juniper thinks that local search apps represent a greater opportunity for advertisers because of more relevant results and better UI optimization. Applications such as Poynt, Qype and Yelp offer mobile-optimized experience from end-to-end – which is crucial if the user is to be led through the whole process, to reaching a purchasing decision.
Some other findings from the report include:
- Google’s domination of the mobile web search space will prompt other players to find ways to differentiate their products in a largely commoditized market.
- Augmented reality search is increasingly being deployed as an add-on feature, rather than a stand-alone product.
- Adoption of discovery services for apps is driven by the high number of applications on leading storefronts, but faces challenge from big brands (with Apple acquiring Chomp, and Facebook launching app centre).
And additional information is available from Juniper Research’s full report…