Social Media Set To Surge
10/07/2009
In the most recent Interactive Marketing Forecast undertaken by Forrester Research, social media is predicted to cause a big stir in the digital advertising arena over the next five years.
The forecast looked at predictions for a mix of advertising mediums. It was said that social media would be the largest growing sector in the period until 2014, with spending in that area rising to £1.9billion. This is predicted to be the largest growing sector at 34%, partly due to the low starting position of the sector which sees current spending of £700 million in the US.
Search and display advertising will continue to be the largest of the entire online advertising sector. Currently, the market for search is worth $15 billion and display advertising worth $7 billion. It is estimated that by 2014, search will have grown an additional 15% to $31 billion with display increasing 17% to $16 billion.
The culmination of the success of the online advertising industry will amount to the industry being worth an estimated $54 billion by 2014, but at the cost of offline advertising.
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