Business is Booming on the Web

29 December 1999
Online business-to-business purchases may reach $2.8 trillion by 2003 predicts Boston Consulting Group, in a report released this week. Of that amount, $780 billion will come from traditional electronic data interchange vendors using private networks, according to analyst Andy Blackburn. Their share will shrink over time, however, said Blackburn.

Large corporations are the impetus behind the growth. Many are forcing suppliers and business partners to come online as part of a trading network, Blackburn said. These corporations are looking ahead, seeing e-commerce trading networks as a new revenue-generating tool.

The report also indicates North America will maintain its status as leader in e-commerce implementations, reaching 24 percent by 2003. At the same time, Western Europe will reach 11 percent and Asia-Pacific area will attain nine percent, with Latin America trailing at seven percent penetration by 2003.