B2B E-Commerce To Be A Trillion Dollar Industry In 2003
Worldwide B2B e-commerce revenues will top $1.4 trillion by the end of this year, according to E-Commerce Trade and B2B Exchanges, a new study from eMarketer.
“Industry leaders from the technology industry have led the way in developing e-commerce initiatives, due in part to their comfort level with technology and general technical readiness,” said Steve Butler, a senior analyst at eMarketer.
It is estimated that global B2B e-commerce revenues will reach $1.41 trillion this year with the US accounting for $721 billion, just over half of this total. By 2004, US businesses will contribute $1.01 trillion of the world’s $2.37 trillion total.
The study found that 70% of companies had experimented with online purchasing, but less than 10% of their total spending is directed through the internet. Aside from the US, Germany, Sweden and Finland are the most advanced users of e-business technology, according to the World Economic Forum.
| Worldwide B2B E-Commerce Revenues | |
| Year | Revenues ($ bn) |
| 2000 | 278.19 |
| 2001 | 474.32 |
| 2002 | 823.48 |
| 2003 | 1408.57 |
| 2004 | 2367.47 |
| Source: eMarketer, March 2003 | |
