Apple: When Will They Build Their Own Mobile Search Engine?

Are you ready for iSearch?

Piper Jaffray analyst Gene Munster writes today that there is a 70% chance that Apple will develop its own search engine within five years. “We believe the company needs to develop its own search technology to protect the data generated on the iPhone,” he contends. “We believe Apple could utilize data unavailable from ,Google, data generated by the company’s App Store, to create a mobile centric search engine.”

Munster figures the company could start by making a minor acquisition of a search startup like Cuil, and then use the index as the base for building its own search engine.

He also things the company should invest in the maps business, asserting that “in the long term for mobile…it is going to be critical for companies offering mobile platforms to own their own map data.” He says the company’s reliance on Google Maps “yields one of the most unique aspects of the mobile platform: location.” His suggestion is that they buy a mapping company like Europa Technologies to start.

“The� bottom line is that protecting the data generated on the iPhone OS platform must become an increasing priority for Apple and we believe the company has the resources to develop its own products in both maps and search in the next five years,” he writes.