Intranet Commerce Will Rocket to More Than $1 Trillion by 2003
Explosive growth of the Internet will thrust Internet purchases sky high. In recent market research, International Data Corporation (IDC) reports the amount of commerce conducted over the World Wide Web will top a staggering $1 trillion by 2003.
"Because of the increase in the number of people who make purchases over the Web, the growth of the average transaction size, and the adoption of the Web as a viable vehicle for business procurement, Internet commerce will grow substantially," said Carol Glasheen, Director of primary research and market models at IDC.
According to IDC, the number of users who make purchases over the Web will jump from 31 million in 1998, to more than 183 million in 2003. Furthermore, there is ample opportunity to expand the 183 million as it will represent only 36 percent of all Web users.
Although the number of Web users is increasing in many foreign countries, Internet commerce is currently U.S.-centric. In 1998, 56 percent of Web users resided outside the United States; however, non-U.S. Internet commerce accounted for only 26 percent of worldwide spending. By 2003, IDC estimates 65 percent of Web users will be international, and non-U.S. countries will account for just less than half of worldwide Internet commerce.
IDC’s report, The Global Market Forecast for Internet Usage and Commerce (IDC #W19262), sizes the market for Internet commerce, including the number of users and devices accessing the Web, the value of commerce transactions per user, and the number of pages on the Web from 1995 to 2003. The forecast is segmented by region (the United States, Canada, Western Europe, Asia/Pacific, Japan, and the rest of world) and user segment.
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