A full 25% of all U.S. business-to-business purchasing will be done online by 2003, predicts a new study of the business-to-business e-commerce market.
The study, conducted by The Boston Consulting Group, estimates that between 1998 and 2003, U.S. B-to-B e-commerce will grow by 33% per year and reach $2.8 trillion in transaction value.
Last year, U.S. business-to-business e-commerce was $671 billion, comprising $92 billion in Internet-based transactions and $579 billion in transactions using electronic data interchange (EDI) over private networks. By 2003, the transaction value of b-to-b e-commerce over the Internet will be $2 trillion, and an additional $780 billion in purchases will be made over private networks using EDI.
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