Based on these figures, from the AdEx Benchmark report, conducted by IAB Europe and IHS Technology, it’s predicted that online advertising spend will reach almost €34bn for the full year.

The report reveals that the Central and Eastern European region helped to drive the growth with an increase of 12.9%, while more mature markets in Western Europe also experienced growth of 9.3%.

Display advertising now accounts for €5.6bn of all online advertising spend with a growth of 13%. In Western Europe it saw growth of 12.6% growth – the highest of all formats. This, according to IAB Europe, suggests an improvement in targeting, formats and data strategies for brand advertising.

With regard to devices, 61% of European consumers now use a smartphone, and mobile display advertising spend increased by 57.5%, passing €1bn in the first half of this year and accounting for 24% of all display advertising. Video has also passed the €1bn spending mark.