Spending on search engine marketing in the UK is forecast to grow 58% this year to £2.2 billion, with almost £2 billion of that coming from paid search, according to a new report from E-consultancy.
The study says that although the growth rate has fallen from 65% in 2006, it looks as if the market still has plenty of room for growth in the future.
The value of paid search alone is forecast to reach around £1.97 billion, up 56% from 2006, whilst spending on organic search will grow at a faster rate, increasing 68% to £252 million.
In March this year, E-Consultancy carried out a survey of search marketers with Neutralize which found that around two thirds of respondents said they would be increasing their budgets in the next 12 months for both paid search (65%) and search engine optimisation (64%).
A recent report from Juniper Research said that US online advertising spending will nearly double by the year 2012, with search and display advertising accounting for the lion’s share of expenditures (see US Online Adspend To Almost Double By 2012).
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