Cambridge-based market research firm Pyramid Research just released their 2011 report on the state of local and mobile search.

The company believes that while Google currently has a lock down on the search market, voice and local search opportunities have the ability to shift some of Google’s dominance when it comes to mobile. We downloaded the excerpt of this March 2011 report, and here are some of the most striking takeaways:

  • The mobile search market generated revenues of $901M in 2010, equivalent to around 3% of total search revenues

  • Total mobile search revenue will reach $8 billion in 2015 (equivalent to around 111% of current 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

  • By 2015 Pyramid forecasts that almost 97% of mobile search revenues will be from smartphones

  • Emerging markets, where smartphone growth is projected to be the highest, will in turn enjoy higher growth in mobile search, with Asia-Pacific being the largest region, accounting for more than 40% of the market

You can purchase the full report (61 pages, 32 exhibits) for a hefty $3,495 here.

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