Global Online Advertising To Increase Its Market Share
Global advertising has started to grow again as the economic recovery gets underway
. And, according to new research from ZenithOptimedia, the online marketing sector is expected to continue its expansion in the coming years as well.
The industry analyst claims that digital marketing spend - including expenditure on search engine optimisation, pay per click and display advertising - will grow by 2.2 per cent this year and will continue to expand over the course of the next three years.
ZenithOptimedia's upgraded forecast of 2.2 per cent is a significant improvement on its previous 0.9 per cent prediction and marks the second consecutive monthly upgrade in outlook the firm has made.
Prior to the two most-recent forecasts, the global marketing sector was hit by 18 consecutive months of negative growth.
It has also noted that digital marketings' share of total advertising budgets will increase from last year's 12.6 per cent to 17.1 per cent in 2012.
Meanwhile, paid search accounted for 50.2 per cent of all internet expenditure in 2009, and the firm expects this proportion to rise to 52.1 per cent in 2012.
Jonathan Barnard, a spokesperson for the company, said that over the past few months confidence in online marketing strategies, such as SEO (search engine optimisation) and pay per click, had increased as the initial shock of the recession wore off.
"There have been positive signs of growth within isolated pockets of the market and even of recovery," he said.
He added: "What this forecast indicates is that the industry is experiencing a recovery and it seems likely that the recovery will continue."
However, Mr Barnard went on to say that "if there were to be a double-dip recession we would have to call these figures into question because the ad industry is directly tied to the economy".
ZenithOptimedia's report echoed similar findings released by international accountancy firm PricewaterhouseCoopers, which showed that online advertising growth during 2009 had exceeded expectations, with total expenditure in the sector reaching 3.54 billion in 2009 - an increase of 190 million on 2008's figure.
Commenting on PwC's figures, Guy Phillipson, chief executive officer of the Internet Advertising Bureau, said that despite the advertising industry being hit hard last year, online marketing performed extremely well.
by: Mediarun-Alex Wares
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