The annual value of pan-European online advertising is set to reach 16bn euros ($22bn; £10.8bn) by 2012, more than double that of 2006. The report by research body Forrester said online adverts would leap to 18% of market share, up from 9% currently.
The report said search engines would continue to dominate online advertising spend, followed by display advertisements and e-mails.
"After five years of dipping their toes into the online marketing waters, firms have come to realise that the net is a valuable medium for client acquisition, retention and market expansion," said the study.
For Pingar, this is a huge validation of our own research. This growth is here now, and here to stay.
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