IDC Expects Internet Commerce to Exceed $1.6 Trillion Worldwide by 2003
FRAMINGHAM, MA – JUNE 5, 2000 – Growth of Internet commerce is accelerating and shows no signs of letting up. By the end of this year, 29% of people who go online will purchase a good or service, and that percentage will swell to 38% by 2003. Not only is the number of Web purchasers growing, so is the size of the average transaction. According to IDC, all this growth will translate into an incredulous $1.6 trillion being spent on Internet commerce in 2003.
"This increased likelihood to buy will be driven by greater availability of products, improved buyer confidence in security, and enhanced local language sites for international buyers," said David Emberley, a research analyst with IDC's Internet Commerce Market Model.
Web spending by international buyers will be particularly strong.
"The U.S. currently dominates ecommerce, but this will be the last year it accounts for the majority of Web spending as the number of international buyers increases and international business-to-business Web transactions become more commonplace," Emberley said.
According to IDC, the U.S. share of Internet commerce will plunge from 62% in 1999 to 48% in 2001.
The information in this press release is based on Version 6 of IDC's Internet Commerce Market Model, which is based on more than 40,000 interviews in 31 countries annually. IDC's report The Global Market Forecast for Internet Usage and Commerce (IDC #B22216) is based on the model. It presents the industry's most reliable statistics and forecasts of Internet and Web usage and commerce. The report presents a sizing and forecast of the worldwide market for Internet commerce, including the number of users accessing the World Wide Web, the number of devices accessing the Web, the level of commerce transactions per user, and the number of pages on the Web. Market sizings are segmented by region and user type. To purchase the report, contact Demetra Georgakopoulos at 1-800-343-4952 extension 4496 or at firstname.lastname@example.org.
For more information on findings from Version 6 of IDC's Internet Commerce Market Model, contact Amie White at 508-935-4653 or at email@example.com.
IDC delivers dependable, high-impact insights and advice on the future of ebusiness, the Internet, and technology to help organizations make sound business decisions. IDC forecasts worldwide markets and trends and analyzes business strategies, technologies, and vendors, using a combination of rigorous primary research and in-depth competitive analysis. IDC provides global research with local content through more than 500 analysts in 43 countries worldwide. IDC's customers comprise the world's leading IT suppliers, IT organizations, ebusiness companies, and the financial community. Additional information can be found at http://www.idc.com.
IDC is a division of IDG, the world's leading IT media, research and exposition company.
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