New York – The U.S. online advertising market will see “rapid growth” this year, with spending expected to increase 20.2% to $31.3 billion, according to a report from market research firm eMarketer.
That projection is up from eMarketer’s previous estimate of 10.5% growth for 2011, and will eclipse 2010’s growth rate of 14.9%.
The Internet will account for nearly 20% of all major media ad dollars spent in the U.S. this year, up from 17% in 2010.
By 2015, online advertising is projected to make up nearly 28% of U.S. major media ad spending.
Video ad spending will surpass rich media formats this year, growing 52.1% to $2.16 billion — up from $1.42 billion last year.
“As consumers continue to increase their time spent online and as the resurgent economy continues to bolster ad budgets, we’re going to continue to see an influx of dollars toward the internet,” said eMarketer analyst David Hallerman.
“More ad formats, such as video, and more channels, especially social media and mobile, are also key contributors to the spending gains.”