eMarketer: Paid Search to Hit $10 Billion by 2009
eMarketer has just released a new report that predicts US search ad spending will hit $10 billion by 2009. In the short-term, the research firm predicts that the paid search industry will grow by 26.2% by the end of 2006, less than last year’s 33.2% increase. Growth has been gradually slowing ever since the meteoric jump of 174% in 2003, but eMarketer says it’s simply a sign that the industry is maturing.
“As this market matures, the search engines will need to refine and improve their products, which will create greater opportunities for search marketers to unearth more effective niches. Such maturity will include more vertical search for better targeting, and a sharp rise in local search, as both users and advertisers increasingly realize that the Internet is the best place to make contact with any kind or size of business,” said eMarketer senior analyst and author David Hallerman in a statement.
While the study predicts a slow-down in growth, it also says that growth rates through 2010 will continue at a pace that’s head and shoulders above other forms of media, and says that paid search will eventually become the dominant form of online advertising. The study also predicts that the growth of local search advertising will continually out-pace the growth of national paid search.
eMarketer plans to release the 2nd part of the report in April.
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