2017 will mark the first time that more money is spent on internet and mobile advertising than on television commercials by businesses globally, with digital advertising growing at three times the rate of the rest of the industry.

The figures comes from a new report by ZenithOptimedia, which suggests that internet advertising is growing at an even faster rate than previously predicted, especially when compared to slowing growth for television.

Demand for advertising on social media, paid search and online video will all help the industry continue to surge, with large events like the Rio Olympics, the European football championships and the US presidential elections also expected to contribute to a strong year for the industry.

The report also suggested that mobile would be responsible for the vast majority (up to 92 per cent) of adspend growth, with the large part of new internet ad spend targeting mobile devices.

“Rapid growth from countries that are relatively new to the international advertising market, combined with a resurgence of established markets that were damaged by the financial crisis, will keep the global ad market on track for healthy growth for at least the next few years,” said Jonathan Barnard, head of forecasting at ZenithOptimedia.