A new forecast from ZenithOptimedia has predicted that global spending on online advertising will rise by 10.1 per cent this year.
The media agency's latest report reveals that this is higher than the growth of 8.6 per cent it predicted earlier this year.
ZenithOptimedia says that internet advertising is likely to account for 15.1 per cent of total global ad spending by 2011, compared with 10.5 per cent in 2008.
The web is the only ad channel the firm expects to grow this year, with the total ad market predicted to decline by 8.5 per cent over the course of 2009.
Almost $57 billion (£35.2 billion) will be spent on online advertising this year, rising to $63.1 billion (£39 billion) in 2010 and $72 billion (£44.5 billion) in 2011.
"Most of this growth will come from paid search, which is an ideal method of reaching consumers looking for bargains," the company comments.
It goes on to state that the recent launch of Bing is likely to prompt further innovation in the field of search, helping to boost the online marketing sector further.
Research firm eMarketer recently launched a report examining the UK online advertising sector, predicting that growth is likely to reach 0.9 per cent this year before rising to 4.7 per cent and 9.6 per cent respectively in 2010 and 2011.
