US mobile local advertising revenues will grow from $1.2 billion in 2012 to $9.1 billion in 2017—at a compound annual growth rate (CAGR) of 49.3%—according to the US Local Media Forecast (2012-2017), issued by BIA/Kelsey, an adviser to companies in the local media industry.
Mobile search is forecast to be the dominant ad format, growing to $5.7 billion in 2017. The forecast comprises advertising placed in mobile search, display, and video, and commercial SMS.
Below, additional details from BIA/Kelsey's US Local Media Forecast (2012-2017).
Mobile US local advertising is forecast to increase from 0.9% of local media ad revenues in 2012 to 6.1% in 2017:
The projected mobile local ad revenues are a subset of total US mobile ad spending, which is forecast to grow from $3.2 billion in 2012 to $16.8 billion in 2017.
Accordingly, locally targeted mobile ads, which constituted 38% of overall US mobile ad spending in 2012, are expected to grow to account for 54% in 2017: