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%.
According to the report –
The Evolving eBusiness Web: B2B Market Model Forecast and Analysis, 2001-2005 – the US will remain the largest region for B2B e-commerce, with purchases increasing at a 2001-2005 CAGR of 68% to $1.6 trillion. Just behind is Western Europe, where B2B purchasing will increase at a CAGR of 91% between 2001 and 2005 to $1.5 trillion. Asia/Pacific is the growth leader with a CAGR of 109% across the same period.
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 |
