According to the company's “Global Search Spending Analysis,” which analyzed PPC spending habits of Covario clients in more than 45 countries, paid search will grow 10% to 14% in North America this year. However, stronger growth of 25% to 30% is forecast in the Europe, the Middle East and Africa region, with 30%-to-35% increases predicted in the Asia-Pacific area.
Google continued to dominate the paid search scene last year, with a global market share of 78% and spending growth of 18% compared with 2009, Covario said. Meanwhile, search engines Yahoo and Bing, which merged their paid search efforts last year, experienced 34% and 84% increases worldwide, respectively.
Enjoying the strongest growth globally last year was Chinese-language search engine Baidu, with 2010 PPC expenditures increasing 211% year over year, according to Covario.