Tuesday is the official day that

Microsoft

(MSFT) - Get Report

will debut its updated search engine, the company announced late Monday.

The move is the tech giant's latest assay in its quest for dominance in a market led by rivals

Yahoo!

(YHOO)

and

Google

(GOOG) - Get Report

.

Dubbed Live Search, the service is the successor to the company's MSN Search. The product, which had only been available in beta version, is slated to be available in 47 markets globally.

Users of the product will be able to employ its Live.com Web site to find and track news, images, video, RSS feeds and blogs on MSN, the company's media and entertainment portal, currently in third place in the U.S in terms of popularity.

Microsoft also said that additionally Tuesday it will launch Live Local Search service in the U.S. and U.K. Features of the service include a bird's-eye view of major U.S. cities, advanced driving directions and

Yellow Pages

.

"We look forward to continued investment in search to deliver services that bring new levels of control and personalization to the Web experience," said Christopher Payne, corporate vice president of Live Search at Microsoft..

Shares of Microsoft closed the regular session up 31 cents to $25.91.