New reports have been released which reveal that even though Google dominates over the online advertising market, Facebook is coming out as a promising contestant and is likely to give some tough time to Google in near future.
According to a market report released by ZenithOptimedia Facebook doubled its online advertisement market share from 1.4 per cent in 2009 to 3.1 per cent in 2010.
In fact, between 2006 and 2010, Facebook has grown the most among all the major online advertising companies including Google, Microsoft, Yahoo and AOL. Facebook's market share grew from 0.2 per cent in 2006 to 3.1 per cent in 2010.
Google increased its online advertising market dominance from 41.9 per cent in 2009 to 44.1 per cent in 2010. The company has made a series of acquisitions recently, which will allow it to diversify its advertising offerings and provide better services to customers.
Microsoft, Yahoo and AOL continue to struggle against Google with market shares of 4 per cent, 8.9 per cent and 1.5 per cent respectively reports Reuters.
Facebook, which has more than 800 million users, offers a unique form of advertising to marketers and allows companies to interact with their potential and existing customers by creating customised profile pages and display ads.
The social networking giant is expected to overtake Microsoft in the online advertising market by the end of this year and blow past Yahoo before the end of 2012.