Piper Jaffray recently issued a 425 page (that’s right) report on all things and trends Internet. It’s called “The User Revolution: The New Advertising Ecosystem and the Rise of the Internet As a Mass Medium.” Greg Jarboe at Search Engine Watch has an overview.
Here are some tidbits about local:
Based on our discussion with various industry sources, we believe local search already comprises between 10%-30% of the queries. Our 2006 Online Media Survey indicated that local search was the second most popular online service.
Piper pegs local search — here defined as “local search, IYP and classifieds” — at $4.5 billion today, which they contend is 12% of the offline total. The U.S. market potential (over 10 years) is $25.9 billion (70% of the total dollars spent) according to the investment firm.
Piper believes that local can eventually be 50% of all search volume, assuming improvements in data quality and completeness and several other upgrades and innovations.
Accordingly, theirs is probably the most bullish of the projections out there. Marketers ready your powerpoints.