Chantilly, Va.—Ad revenue from local online search will grow from $5.1 billion last year to $8.2 billion in 2015, representing a compound annual growth rate of 10%, according to a new report from BIA/Kelsey.
The forecast is part of BIA/Kelsey's “U.S. Local Media Annual Forecast (2010-2015),” which is available to clients.
By 2015, 30% of total search revenue will come from local search, BIA/Kelsey projected.
“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 VP-program director of BIA/Kelsey's interactive local media practice, in a statement.
“Revenues will continue to grow as better targeting, increased mobile usage and improving integration drive up local search activity,” he said.
More information about the report is available here