Google and Facebook go from strength to strength while Twitter, along with Chinese web services, are facing challenges in the market, claims consulting firm Forrester in its latest Digital Marketing Tracker report.
Overall, the company found online advertising revenue was at $US42.8 billion globally, up 25.8 per cent year-over-year, with Facebook and Google taking 74.5 per cent of the market.
Even with Google and Facebook grabbing a large slice of the market, Forrester’s researchers found their dominance hasn’t prevented others from growing, with six other online companies boasting year-on-year growth rates over 25 per cent.
The company surveyed 13 key companies in the online advertising market which, along with Facebook and Google, included Twitter, Snap, Chinese services Baidu and Sohu, along with Japan’s Line.
Despite the growing market Twitter, Baidu, and Sohu have found themselves stuck with revenues declining in the last year, the report found.
Google however remains far and away the market leader with a 53 per cent share of the online advertising market despite Facebook picking up a 3 per cent share of the market over the past year with growth in the number of users and ad revenue per user supporting Facebook’s growth.