Paid search projected to grow 50% this year

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New York--Robust growth in paid search this year will lead a recovery in online advertising, according to Jupiter Research, a division of Jupitermedia Corp.

Search will grow 50% this year to $1.6 billion, according to Jupiter, which released its projections Wednesday at the Jupiter/ClickZ Advertising Forum.

Jupiter predicts overall online advertising will grow 10% this year to $6.3 billion.

Keynote speaker Ted Meisel, CEO of search marketer Overture, was similarly bullish. "That feels about right to us," Meisel said. "Search will continue to grow dramatically over the next decade."

Meisel announced during his remarks that Overture will introduce a local search product in the fourth quarter of this year. "We're testing local right now," he said.

--Carol Krol

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