Worldwide business-to-business (B2B) ecommerce revenues will soar to $823.4bn (£579.3bn) this year, a leap of 74 per cent on last year, according to a report from eMarketer.
The ebusiness research aggregator also predicted that this year's figure will nearly triple to $2.4 trillion by 2004.
eMarketer researched and interviewed online exchanges including Covisint, Exostar, ChemConnect, e2open and GlobalNetXchange.
Steve Butler, an analyst at the research firm, explained that, despite last year's difficult economic climate, many firms had pressed on with their ebusiness initiatives.
"Leading electronic data interchange [EDI] vendors and industry-backed exchanges are currently helping larger enterprises bring their smaller suppliers online, setting the stage for significant ecommerce growth," he said.
eMarketer reported that the total cost of ownership over a three-year period for a private EDI-based exchange could run as high as $185m.
Last year, ecommerce accounted for less than two per cent, or $306.12bn, of all B2B trade in the US, and only 11 per cent of corporations reported fully implemented ebusiness strategies, according to the report.
But eMarketer maintained that the number is expected to grow which, in turn, will generate more business. The study said that, by early last year, there were more than 2,200 internet-based marketplaces worldwide.
In addition, the report rated business analysis, content management and customer relationship management as the top three spending priorities for ebusiness managers.
While eMarketer predicted a B2B revenue increase to $823.4bn this year, Forrester Research believed that the number will soar to $2.061 trillion, Gartner Group predicted a jump to $1.929 trillion and AMR Research forecast a rise to $1.375 trillion.
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