Worldwide business to business (B2B) e-commerce is to grow by 83% this year to a value of $516 billion, according to a report released on 10 October by IDC. The longer term growth forecast shows the value of B2B e-commerce rising from $282 billion in 2000 to $4.3 trillion by 2005 – a compound annual growth rate (CAGR) of 73%.
In 2002, worldwide growth is forecast to come in at 78% reaching a value of $916 billion.
Business to business e-commerce growth | ||
Value ($trillion) | 2001-2005 CAGR (%) | |
US | 1.6 | 68 |
Western Europe | 1.5 | 91 |
Worldwide | 4.3 | 73 |
Source: IDC, 10/10/01 |