According to an article on Reuters, media buyer ZenithOptimedia has increased its 2010 global advertising industry growth forecast from 2.2 percent to 3.5 percent. This marks their third 2010 forecast increase due to the accelerated economic recovery across the U.S. and Europe.

Because of the sheer market size, North America and Western Europe are expected to be responsible for a majority of the forecasted growth. However, developing markets are growing at a fast pace and are expected to continue to drive expenditures in the global ad market in the coming few years.

Over the next two years, the more developed markets are projected to grow just 2.4 percent in 2011 and 2.9 percent in 2012. In contrast, developing markets are set for more robust growth of 9.1 and 9.8 percent in 2011 and 2012.

Within the industry as a whole, the television sector has performed especially well over the last couple years as more people have been spending more time at home because of the recession. In 2012, the television sector is forecasted to earn 40.8 percent of the global ad market, up from its 39.2 percent share in 2009.

In third place, behind television and newspaper advertising, the Internet sector’s increase in global market share is being driven forward by especially rapid growth in mobile and social media world. Internet ad spending is set to account for 17.1 percent of the global market in 2012, a dramatic increase from just 12.7 percent in 2009.

via Reuters