The e-commerce market tripled worldwide last year despite the tech wreck – to nearly $US200 billion – according to telecommunications market watcher Paul Budde.
Australia-based Budde is predicting a further tripling this year, and a total e-commerce market by the end of 2003 of $US1.5 trillion.
Budde says most of that growth will be in business-to-business transactions, which already account for 80% of online spending. B2B’s share of the total will expand to between 85% and 90% in the next two to three years, he predicts.
In a series of reports tracking the telecomms market, Budde lists dozens of internet-related statistics, including the following:
- By 2002, fewer than half a dozen countries remain unconnected to the internet
- Over 6% of the world population is online
- In 1996 English was the first language of 89% of internet users; last year that dropped to 52%
- 160 million new users joined the internet last year