A new report suggests that spending on the global search market will rise 23 per cent in the next five years, to around $44.5 billion.The figure is a significant increase on the current $15.6 billion annually spent on these services.
Piper Jaffray's survey also predicts a considerable increase in online advertising spending as community, communication and entertainment converge.
Search engines are now the first information source that many internet users consult when looking for information, and as user numbers increase search usage will also rise.
The report explained that more people navigate to websites via a search engine than via the direct access URL or bookmarks.
Large brands and direct marketers are increasingly moving to search engine marketing as local and vertical search properties grow.
"The historically passive consumer is changing rapidly, not only becoming more informed and confident about purchase decisions, but also increasingly taking control of the consumption of information and content that used to be distributed by networks, studios, publishers and retailers," said Safa Rashtchy, senior research analyst at Piper Jaffray.
Automated search tools are making the process of online search campaigns more complex and therefore more reliant on technology, increasing the size of marketing spend.
