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UK Paid Search Market to Surpass 2 Billion Pounds in ‘07

UK spending on search engine marketing (SEM) will increase 58% this year to 2.22 billion pounds, forecasts E-consultancy. pointing out that although the anticipated growth rate would be down from 65% in 2006, the market has plenty of room for future growth.

The paid search market alone will near 2 billion pounds this year - some 1.97 billion pounds - up 56% from 2006, the E-consultancy report estimates, according to MarketingCharts.

However, for the first time, spending on organic search will grow more quickly, increasing 68% - to 252 million pounds, or 11% of the SEM market, it said. The estimate includes payments to agencies, as well as investment in client-side staff to manage SEO and implement changes.

In a survey earlier this year, the firm found that two-thirds of marketers said they would be increasing their budgets in the next 12 months for both paid search (65%) and search engine optimization (64%).