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But Amazon, which recently joined Apple as the only US companies to top a trillion-dollar market value, doesn't seem to be affected by these fears just yet. Online advertising is just another business where it has quickly become an industry leader, along with retail, cloud computing and media.

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"Its strong handle on consumer purchase behavior sets it apart from Google and Facebook in the digital ad market, which has made the company an attractive option for advertisers,"

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Amazon may be partly to blame for that decline. EMarketer predicts Amazon will generate $4.6 billion in US online ad revenue this year, up substantially from the $2.9 billion eMarketer had forecast in March.

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Amazon is projected to have a 4.2% share of the market this year, compared with 4.1% for Microsoft, which owns MSN, the Bing search engine and LinkedIn, and 3.3% for Oath.

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More people are starting their searches for products on Amazon instead of Google or another search engine

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Amazon is expected to move ahead of Microsoft and Oath, the Verizon subsidiary that owns AOL and Yahoo, into third place in the US digital ad market, according to a report released Wednesday by the research firm eMarketer.

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Amazon is now the third-biggest ad platform in the United States

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Amazon is now the third-biggest ad platform in the United States

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Amazon already dominates a multitude of businesses. Online advertising may be next.