In real estate, location is everything and it’s pretty important when it comes to marketing, too. According to a study by Pyramid Research, location-based revenue in the US is expected to climb from $2.8 billion in 2010 to $10.3 billion in 2015.
A big chunk of that change will go out to location-based advertising, which, according to Pyramid, is the fastest growing segment. They expect it to be responsible for 60% of the location-based service revenue by 2015. Within that, local search is key.
“Not only are navigation applications moving to a search-funded model, but there are also a wide range of other companies looking to capitalize on the growth of local search, including start-ups (such as Poynt and Yelp), local business advertising specialists (such as Yellow Pages) and vertical aggregators (such as toptable and HotelBooker).”