Google VP Neal Mohan expects online display advertising to grow ten-fold from today’s $24bn to a $200bn+ industry by 2015.
The company hopes to capitalise on the opportunity by being an end-to-end platform in the growing market.
Mohan, who is also the chief of Google’s display advertising business, told the Financial Times that spending on graphic online adverts, digital video, mobile and other non-search formats will increase almost tenfold in the next few years.
He said that billions of dollars worth of ads will be bought using automated "real-time bidding" technology.
"Our belief is that by Google’s participation we can grow the overall display advertising pie," Mohan told the Financial Times.
"The fundamental problem we are trying to solve is how do we get from [being] a $24bn industry to a $200bn industry in a few short years."
Mohan also said, "We don’t own inventory, we are not a media company. We can’t execute unless [ad agencies, advertisers and publishers] buy into it and adopt it," he says.
"The world is extremely fragmented, with the proliferation of devices, mobile apps and websites, there is infinite fragmentation," he says. "A lot of media dollars are destroyed through fragmentation and inefficiency, there is a lot of wastage and campaigns are less effective. Our approach is how to be an end-to-end platform in the market."
