Facebook Inc’s U.S. advertising revenue is expected to total roughly $2.2 billion in 2011, displacing Yahoo Inc. to collect the largest slice of online display advertising dollars, Reuters reported.

The research firm eMarketer released a report on Monday that said Facebook’s U.S. advertising revenue will give it a 17.7 percent share of the market for graphical display ads that appear on websites. Facebook had a 12.2 percent share of the U.S. market last year.

Facebook, the world’s largest Internet social network, has seen its valuation soar to about $80 billion in recent transactions for its shares on the private markets, and some investors anticipate it could have an initial public offering next year.

EMarketer analyst David Hallerman told Reuters that the overall market for display ads – which include banner ads, video ads and Web page sponsorships – is growing robustly enough to benefit numerous companies.

“It’s not a zero-sum game,” he said. Hallerman said the display advertising market is experiencing rapid growth as both international brands and small local businesses increasingly turn to the Internet to reach consumers.

The overall U.S. display market’s growth rate is projected to be 24.5 percent.