A new report has revealed that internet advertising spending is set to rise significantly over the forthcoming decade.

The Long Term Advertising Expenditure Forecast, conducted on behalf of the Advertising Association, showed that UK expenditure could grow by more than 50 per cent in the run up to 2020.

Despite the recession, which is likely to have an effect over the next few years ahead, total ad spend for paid-for internet search advertising is likely to increase from 27 per cent to 38 per cent.

Display advertising expenditure in the UK is predicted to rise by around eight per cent to account for 14 per cent of overall advertising spend in 2020.

The report added: "Among other forms of classified [advertising], the internet's 50 per cent share in 2008 is forecast to rise to over 80 per cent by 2020. Mobile advertising is expected to account for around ten per cent of all advertising at this time."

Indeed, technology research company Forrester recently claimed that online advertising is set to grow this year, despite the deepening recession.

It claimed that budgets for advertising expenditure in Europe will rise by as much as ten per cent in 2009 alone.