05.18.2011 09:15 AM
BIAKelsey: Local Search Ad Revenues at $8.2 Billion by 2015
CHANTILLY, VA.: BIA/Kelsey predicts local search advertising
revenues will increase from $5.1 billion in 2010 to $8.2 billion by 2015,
representing a compound annual growth rate of 10 percent. By 2015, the firm
expects 30 percent of search volume will be local in nature.
“Local search ad revenues hit an
all-time high last year, driven primarily by better product integration across
search engines, especially Google,” said Matt Booth, senior vice president and
program director of BIA/Kelsey’s Interactive Local Media practice. “Revenues
will continue to grow as better targeting, increased mobile usage and improving
integration drive up local search activity.”
BIA recently predicted that social media ad spending would reach $8.3 billion
by 2014, representing a 30.4 percent CAGR.