San Diego—Paid search spending by high-tech and consumer electronics companies slowed to 7% growth in the second quarter compared with the same period last year, according to search engine marketing company company Covario Inc.
In the first quarter, paid search spending by those companies increased 11% over the first quarter of 2010.
“Global Search Advertising Spend Analysis,” was based on an analysis of paid search spending by Covario's high-tech and consumer electronics clients.
Covario said the slowdown was attributed to budget constraints in the first half of the year and the general macroeconomic slowdown in Europe, the Middle East and Africa.
However, Covario said, search spending is still on track to grow 15% to 20% this year over last year.