Internet commerce stands on the threshold of global acceptance could handle five per cent of all worldwide sales by 2003.
According to Forrester Research, Internet commerce could be worth $3.2 trillion in 2003, but only if public and private sectors work together to make buying and selling on the Web simple, secure and internationally viable.
The company warned that global sales could be as low as $1.4 trillion if governments refuse remain inflexible and if businesses are slow to embrace icommerce. Together this could seriously hamper the development of I-commerce.
Forrester defines I-commerce as the trade of goods and services in which the final order is placed on the Internet, including electronic data interchange.
?There is no question that I-commerce will represent a significant portion of the global economy over the next five years,? said George Colony, president of Forrester Research, speaking at the company?s annual forum in Boston.
?To achieve its full potential, businesses need to move quickly to establish market leadership, while governments must nurture electronic commerce with supportive laws and policies. If a favourable climate can be established, Internet commerce will reshape the global economy.?
Forrester questioned its attendees to discover how much importance they placed Internet commerce in their business plans, 46 per cent of attendees said that their companies plan to sell more than $1 million in goods and services online in 1999, and 23 per cent expect their online sales to exceed $10 million. 28 per cent said their companies will purchase more than $500,000 in goods and services online next year.
IBM and Technical University of Munich team demonstrate how Shor's algorithm, which can't be cracked by conventional computers, can be solved quickly with quantum computing
Hubble Space Telescope finds superflares from young red dwarfs could strip away planetary atmosphere
Younger stars are 100 to 1,000 times more energetic than when they're older
Two of the big four supermarkets will use the system to control sales of restricted products
PUBG news and updates: November's Update #23 to bring new Skorpion pistol and changes to blue zone visibility
Genuinely useful side-arm coming to PUBG in Update #23