San Diego—Spending for paid search advertising worldwide by high-tech and consumer electronics companies increased 21% in 2011 over the previous year, according to a new study from search marketing company Covario Inc., outperforming the company's previous prediction of 15%-to-20% annual growth.
According to Covario's report,
based on an analysis of its customers' search-spend activities across all search engines, the fourth quarter saw pay-per-click search advertising jump the most in the consumer electronics sector, up 28% compared with the same period a year earlier.
Google continued to dominate paid search expenditures in 2011 with a 76% share, up 27% over 2010. Global paid search spending on the integrated Bing/Yahoo platform slumped 18% from the prior year, according to the study.