According to Schmidt, display ads could soon become a $200 billion market and mobile searches are on the rise.

At an Interactive Advertising Bureau event on Sunday, Google CEO Eric Schmidt shared some insight that internet marketers may like. According to Schmidt, display ads could soon become a $200 billion market and mobile searches are on the rise.

The CEO suggests that display ads have a lot of potential, and he predicts the market will reach $200 billion within 10 years if appropriate online platforms are developed. While market analysis indicates Facebook is driving display growth, Brafton has reported that Google expanded its Display Network last summer, which may help marketers reach internet users via display ads.

AdWeek quotes Schmidt as saying that the rise of the industry is ” happening faster than all of our predictions.”

Another rapidly growing market, suggests Schmidt, is mobile search. In his keynote speech at the IAB event, Schmidt revealed that YouTube sees 200 million mobile views each day, and he explained that 78 percent of smartphone owners use their mobile devices while shopping.

He also shared some insight on significant mobile traffic gains during the Super Bowl, reports Mashable. Mobile searches for GoDaddy jumped 315 times during the sporting event, while desktop searches jumped just 38 times. Similarly, Chrysler saw mobile searches increase 102 times throughout the game, whereas desktop searches jumped just 48 times.

While Schmidt indicated that display technology may need to improve to meet market potential, he seemed confident that mobile's day has arrived. “The technology has finally caught up with the promises we talked about for so long,” Mashable quotes him as saying.

Google is the leading search engine among mobile consumers by a long shot, according to Royal Pindgom data. Brands looking to catch clicks from on-the-go mobile searchers may be interested in the mobile SEO tips Google shared last week. Notably, the company suggests that relevant content is key no matter what internet-enabled device searchers use.

Katherine Griwert is Brafton's Marketing Director. She's practiced content marketing, SEO and social marketing for over five years, and her enthusiasm for new media has even deeper roots. Katherine holds a degree in American Studies from Boston College, and her writing is featured in a number of web publications.