The online advertising market grew 15.3% in 2010 according to IAB Europe’s annual AdEx survey which was released this morning.

The findings show a revival in digital display with an average growth rate of 21.3%, with video, mobile and social media all contributing to this growth, meaning display overtook search as the fastest growing online ad format in Europe.

Search increased 15.1% in the same period, while overall the European advertising market grew 5.0%.

Total online adspend was €17.7bn in 2010, compared to €15.3bn in 2009, and market growth ranged from 37% in Russia and 24% in the Czech Republic, to 14% in Denmark and 7% in France.

The markets with the highest online adspend in the report are, in order, the UK, Germany, France, Netherlands, Italy and Spain. Together they account for almost three quarters of the total online advertising market.

Display advertising enjoyed growth rates of 20% or more in many markets - both emerging and mature - during 2010, with above average growth rates experienced in Ireland (31%), Spain (30%) and Russia (27%).
 
Paid search continued to grow double-digit at an average of 15.1%. It remains the biggest category in online advertising, with 45% of total advertising spend compared with 33% for display and 22% for classifieds and directories.

Alain Heureux, president and CEO of IAB Europe, commented: “The IAB network has worked tirelessly to showcase how effective online display advertising can be at supporting brand advertising campaigns. I am delighted to see that message has been getting through and the innovative ways brands are incorporating online in their advertising campaigns.”