The 70 million Europeans currently online should balloon to 108 million by the end of the year, according to a new eEurope report from New York-based eMarketer. And that quantity will more than double, to 255 million, by 2004, the study predicts.
Furthermore, the $69 billion generated in European e-commerce this year will rise 14-fold, to $980 billion, during the same interval.
"The European online community reflects a moderate slowdown in the global economy from the past few high-growth months," said Nevin Cohen, senior analyst at eMarketer, in a statement.
Cohen continued, "However, if the US faces a more-serious-than-expected recession this year, Internet penetration in Europe is likely to proceed much more slowly, particularly in large portions of the region with nascent market economies."
The report also said that:
*Total electronic advertising expenditures will reach $6.4 billion by the end of 2005
*Online banking services were being used by 7.2 million people, or 14% of all Internet users, in Western Europe, a figure seen as growing to 15.2 million, or 18%, by 2004
*The ubiquity of wireless telephone use in Europe will translate into wireless computer use, and by 2003 Europe will host the highest number of wireless Web users in the world.
