US expenditure on pay per click services will continue to grow at a faster rate than the wider online advertising sector because of its "tried-and-true" status, it has been claimed.
Analyst eMarketer has cut its 2008 forecast for both overall online advertising and paid search advertising in the US, but stressed that pay per click growth will still outpace the rest of the industry.
It predicted expenditure growth of 11.3 per cent for all online ads and 21.4 per cent for pay per click services in particular.
"Search’s share of online dollars will balloon from about 40 per cent of the online market to nearly 50 per cent by the end of the decade," eMarketer senior analyst David Hallerman said.
"Especially in economic turmoil, search is more trackable than any other ad format."
In the UK, marketers spent £981 million on pay per click advertising in the first half the year, up 28 per cent compared with the same period in 2007, according to figures from the Internet Advertising Bureau.