According to figures published by ZenithOptimedia, internet adspend will also cross the double-digit mark in Sweden, where it will take a 10.5% share of the total 2006 adspend.
This puts internet advertising in a rare league with television, newspapers and magazines, the only other media that have a share of the advertising market over 10%.
Jonathan Barnard, head of publications at ZenithOptimedia, said: "Internet advertising has taken very little time to get up there and there are only three other double-digit media, it's amazing."
Other markets are expected to follow, and by 2008 Japan, Australia, South Korea and Norway should also be on the list. ZenithOptimedia is forecasting that by then, UK internet adspend will have a 17.2% share of the ad market.
The report found that smaller advertisers were embracing the internet for advertising because of its affordability and targeting capabilities.
ZenithOptimedia's forecast also looked at the growth of different media on a global basis.
It found that internet advertising would account for 7.3.% of global adspend by 2008, compared with 5.7% this year. The only other media it has forecast to grow between now and 2008 are television and outdoor.
Newspapers will be hit hardest, according to the forecast, with total share falling to 28% from 29.2% this year. Radio and magazine advertising will also fall, while cinema is set to remain static with a 0.4% share of total adspend.
The figures are published in 'Advertising Expenditure Forecasts', which can be ordered from .
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