A new survey from Forrester Research reports that spending on Internet display advertising is expected to nearly double over the next five years. New forecasts from Forrester show that total U.S. online display ad spending will reach $37.6 billion in 2019, a jump from the $19.8 billion that’s expected to be spent this year. That growth would represent a 90% increase.
The Forrester report said that the extreme growth in online advertising will be driven largely by increased spending on video ads. For example, video advertising on desktop devices alone is expected to grow 21% annually until 2019, when it will contribute 55% of total desktop display ad revenue across the Internet. Mobile is also expected to be a driver of online ad growth. Display ads targeted at smartphones and tablets will account for nearly 40% of all online display ad spending by 2019, Forrester said, up from a predicted 24.4% share in 2014.
That growth is expected to severely outshine ad spending in traditional media, according to Forrester’s expectations. The research organization reported that it is expecting growth in offline advertising media to be about 1% a year for the next five years. And, the fastest growth in those traditional outlets is expected to come from cable television, according to Forrester, which should expand by 5% annually. While spending from other outlets such as radio, newspapers, magazines and network television are expected to decline.