A new report compiled by FIPP – the Worldwide Magazine Media Association (originally the International Federation of Periodical Publishers) – shows that total internet ad spend could overtake traditional television ad spend on a global level by as early as 2017.

Global advertising revenues have grown by an average 5 per cent year-on-year since the start of the recovery from the world financial crisis in 2010. Total global ad spend is now tipped to reach $700bn (£450bn) by 2019 with digital, and in particular mobile, fuelling much of that growth.

Internet advertising is already the dominant advertising platform in Australia, Canada, China, Czech Republic, Denmark, Estonia, Finland, Germany, Hungary, Ireland, Netherlands, Norway, Sweden and the UK, and France and the United Arab Emirates will join that list in 2015. By 2017, says FIPP, global growth in Internet advertising will reach a critical mass where the medium will overtake television as the number one advertising category in terms of ad spend globally.

Search will continue to comprise the largest single component of internet advertising until 2019, when the forecast ends, followed by display and mobile. Video is a fast-growing category in most major markets of the world. Online TV and video advertising revenues will reach multi-billion dollar levels in 2017.

Both eCommerce and mCommerce numbers continue to grow around the world. The nations with the highest percentage of internet users engaging in eCommerce are China (80 per cent); UK (72 per cent); India (71 per cent); Germany (71 per cent); and S. Korea (69 per cent). The number of online users who shopped online “in the last month” globally has surged from 833m in 2012, to 971m in 2014. Similarly, mCommerce numbers are rising even faster, from 420m people shopping on their phones in 2012, to 530m in 2014.

The FIPP Insight Report on Global Digital Trends was compiled from a number of sources, including Zenith Optimedia, PwC, MAGNA GLOBAL and GlobalWebIndex. It is designed to give a global snapshot of an amalgamation of worldwide markets. It is the fifth in a series of reports from the FIPP Insight and World Newsmedia Network (WNMN), which also includes Video, Social Media, Mobile, Big Data, and Revenue.

You can download the full report here.