Just-released market research from IDC (International Data Corp.) pegs the region’s online population at 21.8 million by the end of this year, with spending over US$2.2 billion.
These figures, from the second of IDC’s biannual updates
of Internet user forecasts, include 13 Asia/Pacific countries excluding
Japan. This firm contrasts this with its figures of 12.9 million users
spending about US$723 million by the end of 1998.
“The
continuing explosion of Web connectivity in business and increased
activities in the consumer and education sector are fueling this growth,” said Pete Hitchen, Internet research manager at IDC Asia/Pacific.
Hitchen also pointed to other driving forces such as an increase in the
number of Internet technology and content suppliers, buyers online, new
foreign players entering the Asia/Pacific markets, and a rapid increase
in business Internet usage.
The IDC report predicted that the compound annual growth rate of Internet
users from Asia/Pacific (excluding Japan) for 1997-2003 would rise to
56 percent, exceeding the 47 percent rise predicted by IDC in February 1999. The
company forecasts a boom in Asia/Pacific’s Internet user population, with
an exponential increase in the number of regional users reaching 95.2
million by the end of 2003. Online revenues are predicted at US$87.5
billion by this time.
China, India and South Korea were the key geographies identified by IDC
as areas of opportunity, although each of the Asia/Pacific countries saw
consistent growth in Internet activities.
“This Internet boom in
Asia/Pacific highlights the potential of doing business online. Internet
business, retailers, web sellers and government bodies should take note
of this rapidly evolving market,” emphasized Hitchen.
