Online ad spending across Europe experienced a double-digit growth in the six first six months of 2010, according to data released IAB Europe, New Media Age revealed.

If the trend continues, "Europe's online ad industry's market value could overtake the US by the summer next year," said IAB Europe's CEO and President Alain Heureux, Business and Leadership quoted.

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"Every day new companies plan online ad campaigns for the first time, encouraged by reach, return on investment and consumer engagement," said Heureux. "Those that are already online are allocating a greater proportion of their ad spend to the medium."

Spain reported the highest increase with 20 percent and, for the first time, display advertising (28 percent) had a faster growth than search one (13 percent), WARC informed. It was followed by Poland (18 percent), Italy (15 percent) and Hungary (11 percent). France, the United Kingdom and Bulgaria saw a 10 percent raise each, while Romania had an 8 percent. There are no results for Germany as it has not been audited yet, New Media Age explained.