The UK will hold on to over one-third of the European online display advertising market, topping €2bn (£1.39bn) by 2012, with banks leading the charge, according to a Forrester Research report.
Analysts predict that the UK's expanding e-commerce economy and active agency marketplace will result in the highest spend per online consumer anywhere in Europe.
The UK, Germany and France will spend €1.4bn in 2012 on email marketing as part of the overall European online marketing spend, which is expected to top €16bn by the same year.
Financial services firms, including Barclays and HSBC, were found to be especially aggressive about moving online.
These three countries account for more than half of the online households with broadband in Europe and this domination is reflected in their email marketing spends, according to the report.
However, Forrester predicts that the UK search spend will grow by "only" 28% over the next five years, as opposed to the 45% growth between 2005 and 2007.
The Forrester report on European email, search and display advertising forecasts to 2012, by analysts Rebecca Jennings and Mary Beth Kemp, said: "Search already has a strong foothold in the leading e-commerce market in Europe, sending ardent UK shoppers from MSN and Yahoo! to the products they want."
Jennings and Kemp will be presenting their findings at the Forrester Consumer Marketing Forum EMEA on November 15 to 16 in Barcelona.
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