New York—Global advertising spending will grow to $676.17 billion in 2016 from $538.70 billion this year, according to eMarketer's annual “Global Media Intelligence Report.”
Much of the growth is from the Asia-Pacific region, where more than 1 billion people now use the Web at least once a month—almost 47% of the total global Web usage, according to eMarketer.
The report said China is poised to become the world's second-largest ad market in 2013 and the second-largest digital advertising market in 2014, behind the U.S. in both categories.
As a result, the Asia-Pacific region is expected to surpass North America in total ad spending in 2014.
During the next four years, global spending on mobile ads will grow to $25.3 billion annually, up from $6.6 billion this year, the report found.