The business is divided in 25 markets between the WPP agencies Mediaedge:cia and MediaCom, with MediaCom handling the £9 million UK account.
Agencies have been contacted with a request for information for the global pitch, which is being led by Ikea's group category manager, Anders Bille. Among other things, the retailer is looking to identify cost savings. A decision is expected in the autumn.
Ikea split its global media account between Mediaedge:cia and MediaCom after the agencies won a pitch in 2005 against OMD.
Mediaedge:cia has the business in major markets including the US and Canada, while MediaCom handles the account in European markets such as Germany and Spain.
Last May, Ikea signed a deal with Electronic Arts to allow players of The Sims 2 to furnish their virtual homes with Ikea furniture.