Commerce on the Internet will flourish over the next few years, resulting in $100 billion dollars worth of business by the year 2000, according to recently revised predictions from market researchers IDC.
The researchers estimate that the number of devices accessing the Web will grow from 12.6 million worldwide at the end of 1995 to 233.3 million at the end of 2000 and that the number of users accessing the Web will grow from 16.1 million to 163 million over the same period.
John Gantz, senior vice president at IDC, said that 20 per cent of current Web users are using the Net for commerce and that as the number of Web users increases, this will in turn boost the proportion of trade being conducted over the Internet. ?The percentage of individuals buying goods and services on the Web will only increase from 24 per cent in December 1995 to 28 per cent of users in 2000,? he said. ?But the number of users is doubling every year and as the number of goods and services available on the Web increase current users will buy more.?
According to Gantz, business-to-business transactions will account for two-thirds of commerce on the Web by 2000, with the rest consumer-oriented. The study also estimates that both home and business users will each spend about 15 hours a month on the Web.
70 per cent of all Web users are currently based in the US but by 2000 Gantz said the rest of the world will have caught up, accounting for 50 per cent of the base.
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