Hi-tech and consumer electronics firms increase spending on pay per click services by 43 per cent year-on-year in the fourth quarter of 2008, according to Covario.
The marketing analytics firm, which collated the data from its own clients, also revealed that spending on paid search increased by 7.2 per cent in the last three months of 2008 compared with the third quarter.
However, with the economy in decline, Covario said it should be noted that budgets for pay per click services were likely to have been set before the downturn properly kicked in.
The report also showed that Google continued to account for the lion’s share of spending on pay per click spending globally, with particular growth being seen in the Europe, Middle East and Africa (EMEA) market.
"Google’s dominance in EMEA is really impressive. Outside of their spend[ing] on Google in Europe, most of our clients are unable to find significant quality or quantity of inventory from which to extract ROI," remarked Covario’s Craig Macdonald.
In terms of overall web searches, Google had a market share of 63.5 per cent in the US in December, according to comScore.