In the two months since Microsoft launched Bing, its new search engine has taken nearly a full point in market share in the U.S. But overseas, the Bing effect is not really being felt yet. The latest global search market share numbers (as opposed to U.S.) from comScore show Microsoft’s share of search queries actually declining by 0.1 percent in between June and July to 2.9 percent. (See chart below).

Maybe this is because most of Bing’s $100 million marketing budget is being spent in the U.S., and that is driving much of the initial market share movement we are seeing here. Microsoft’s global market share is also so much smaller than its 8.9 percent share in the U.S., so making serious inroads overseas will take much longer.

Meanwhile, Google gained 0.4 percent to end July with 67.5 percent global share, compared to Yahoo’s 7.8 percent (which was also down 0.1 percent month over month). Yahoo and Microsoft combined have 10.7 percent share of searches worldwide.

(Table courtesy of Christa Quarles at Thomas Weisel Partners)