B2B Commerce To Grow To $2.4 Trillion In 2004

Story:

According to a recent study by eMarketer, 2004 business-to-business trade will effectively triple from the $823 billion dollar total expected for 2002.

Steve Butler, senior analyst, states

"Despite last year's difficult economic climate, many companies pressed on with their e-business initiatives, continuing to lay the foundation for e-commerce trade," said Steve Butler, senior analyst at eMarketer. "Leading EDI vendors and industry-backed exchanges are currently helping large enterprises bring their smaller suppliers online, setting the stage for significant e-commerce growth."

Analysis:

In 2001, only 2 percent of world B2B trade was online. There were about 2200 online marketplaces, and only 11% of corporations were prepared with B2B e-business strategies.

Although growth is predicted, improvements also need to be made. More than half of the respondents to the study felt that online sites often or mostly failed to meet their expectations.

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