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Juniper Research has released their report on the future of Mobile Search and Discovery. The findings of the report suggest that the future for this sector is bright.

It has been estimated that the mobile search and discovery market will grow nearly 3 times its current estimated size over the next five years. That is to say that by the year 2017, the value of the search and discovery market will be $15 billion.

The search and discovery market can be divided into web search, local search, augmented reality search and discovery apps. The click through and cost-per-click rates of these sectors are very high, as the users of this market can be accurately targeted by advertisers.

Major search engine service providers such as Google and Microsoft feel that a large percentage of mobile searches are localized, but according to the Juniper report, local search apps are a good set up for advertisers as they allow easy targeting of users, with relevant results being available through them.

Mobile search apps such as Appsfire, DuckDuckGo, Mobile Commerce, mxData, Poynt, Qype, Yelp, Wikitude help to improve the understanding of the mobile search and discovery industry.

At the same time search engines like Google, which holds the major share of the search market, are also expected to do well in this sector.