In its updated online advertising forecast, Magna Global Online predicts global online advertising revenue to rise 12.4% to $61 billion globally in 2010, $12 billion of which will come from the Asia Pacific region. Global online advertising is expected to grow at an average rate of 11.0% through 2015. In the Asia Pacific region, the expected average growth rate through 2015 is 16% for paid search and 8.7% for other online advertising. Latin America will continue to be the fastest-growing region.
Factors driving growth include the rising numbers of businesses, intensified competition between advertisers in similar brand-categories, and the increasing presence of large brands who channel more of their print and radio budgets to online advertising.
Paid search is the most important segment of online advertising, accounting for $29.8 billion this year. Although Google is still the global leader in search, local search engines dominate in China and Russia, the fastest growing large markets for online advertising, following Google’s closure in these countries.
All other online advertising, which make up just over half of total spending, is more diffused. Key players are global portals such as Yahoo and Microsoft, and regionally strong publishers often associated with print publications.
Magna Global is a proprietary resource tool of IPG’s Mediabrands, which is represented in the Philippines by Universal McCann.
