According to Forrester Research, the three biggest online ad markets, the UK, France and Germany, will have revenue of €900m in 2008, as the uptake of broadband and understanding of the power of internet advertising increases.
Italy and Sweden will both see strong growth, and by 2008 should have combined online advertising revenues of €200m.
Rebecca Jennings, senior analyst at Forrester, said: "Crucially, other marketing tools like search, email and classified ads also drive the growth of digital marketing. These elements are likely to grow as fast as, if not faster than, online display ads."
She said that search marketing will account for 27% of all digital marketing spend in the US this year, and that the efforts of online media owners and industry representatives such as the IAB were beginning to pay off.
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