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Report: Internet Commerce to Top $1 Trillion by 2003

International Data Corp. (IDC) reports the amount of commerce conducted over the Web will top $1 trillion by 2003.

According to IDC, the number of users who make purchases over the Web will jump from 31 million in 1998 to more than 183 million in 2003, representing 36% of all Web users. Although the number of Web users is increasing in many foreign countries, Internet commerce is currently U.S.-centric. In 1998, 56% of Web users resided outside the United States; however, non-U.S. Internet commerce accounted for only 26% of worldwide spending.

By 2003, IDC estimates 65% of Web users will be international, and the United States will account for less than half of worldwide Internet commerce.

IDC's report, titled "The Global Market Forecast for Internet Usage and Commerce", sizes the market for Internet commerce, including the number of users and devices accessing the Web, the value of commerce transactions per user, and the number of pages on the Web from 1995 to 2003. The forecast is segmented by region (the United States, Canada, Western Europe, Asia/Pacific, Japan, and the rest of world) and user segment.

The market sizings and forecasts included in the report come from IDC's Internet Commerce Market Modela, which is based on more than 40,000 primary research interviews annually in 31 countries and on IDC's supply-side forecasts for PCs, network computers, modems, and other technologies.