Growth in global online ad spend will slow significantly in 2008 and 2009, according to forecasts issued today by media communications agency Carat.
The forecasts estimate that global digital spend will slow from 27 percent increase year-on-year in 2007, to 23 percent in 2008. This figure is expected to drop further in 2009 to around 18 percent.
In North America it’s a similar story, with online growth slowing from 18 percent in 2008 to around 15 percent in 2009.
According to the forecasts, all regions examined will experience double-digit year-on-year growth in digital spend. Areas of substantial growth will include China and Russia, which will experience 56 percent and 46 percent growth respectively in 2008.
Meanwhile, online ad spend in Europe is predicted to slow from 28 percent year-on-year growth in 2008, to 23 percent in 2009, and despite China’s huge increase in spend, growth in Asia overall is expected to slow from 30 percent in 2008, to just 16 percent in 2009.
Though digital spending will slow, Mainardo de Nardis, CEO of Carat’s parent company Aegis Media, noted in a company statement, “Digital’s success story continues…. We predict it will approach a 10 percent share of all global ad spend in 2009.”