Challenges keep many companies from finding success in the mobile market
Many companies entering into the mobile market are finding the landscape to be unforgiving at best. Facebook, for instance, has been finding it difficult to successfully monetize its mobile solutions due to lackluster interest from consumers, businesses, and investors. Google, on the other hand, has been reporting significant increases in the amount of money companies have been spending on its mobile search advertisements. A new report from Juniper Research, a leading market research firm, details the trends that are contributing to the success and failures that some companies are experiencing while providing an outlook for the future of certain aspects of the mobile market.
Mobile search enjoys momentum amongst consumers
According to the report, mobile search is gaining momentum amongst consumers. As smart phones and other mobile devices become more widely used, consumers are beginning to use their mobile tools to conduct searchers on the Internet. Many of these searchers are for products or simple information. Each search does present an opportunity for consumers to interact with some form of marketing, however, which is a prospect that many companies are eager to exploit.
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Mobile search may be a $15 billion business by 2017
The report predicts that mobile search and discovery, which Juniper considers to include advertising, paid and local searchers, augmented reality, and discovery application, will be a $15 billion per year business by 2017. Web searchers, in particular, are expected to be one of the most lucrative aspects of the business as these present the greatest potential for advertisers to interact with consumers.
Differentiation may be key to success in the market
Juniper suggests that the most daunting challenge facing companies that wish to profit from the burgeoning business of mobile search and discovery is differentiation. Juniper notes that Google has managed to solidify their position in the market because of its expansive and widely used search engine. Creating a solid, marketable identity in the industry may be difficult, but is not impossible for companies with adequate ambition.