Feeds

European Internet users to pass US by 2003 – IDC

Outfit predicts 500 million users by then

  • alert
  • submit to reddit

Boost IT visibility and business value

European Internet use will overtake the US in 2003, IDC predicted at the IDC European IT Forum in Paris this morning. At present, half the Internet users are in the US, and a third in Europe, but the 44 million European users will grow to 170 million by 2003 and equal the number in the USA. Six of largest 10 countries in the Internet economy are in Europe (and this will soon become seven), but the revenue generated is still only 10 per cent of the total Internet revenue. At present, no country has 40 per cent of its citizens online, but 14 countries will reach this position by 2003, and they will account for 50 per cent of the world economy, IDC predicts. Pat McGovern, CEO of IDC, saw Internet companies getting access to low cost capital during IPOs, as their value was being based on their ability to generate revenue rather than profits. Frank Gens, IDC vp for Internet research, noted that the number of Internet users had gone from 19 million to 150 million over the past four years, and predicted 500 million users by 2003. At that time, 62 per cent of US users would be online, and the value of Internet commerce would reach 7 per cent of the US GDP. To get to version 2 of the Internet economy will require the creation of an organisation that works effectively; willingness to spend at a higher rate than previously (perhaps half the start-up cost each year); more consideration as to how the organisation's web presence looks to users; reaching for the global market (which was regarded as desirable but optional in version 1 of the Internet economy); and being prepared to work with others to achieve sales. It was interesting that new start-ups often spend more on their web site than large, established organisations. IDC's message for the conference seemed to be that US companies would need to globalise now if they were to carry on their domination of the Internet economy, but nothing was said about the cultural differences, and the reluctance of European users to use credit cards online. ® Tune into Cash Register and turn on to our daily Net Finance News

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.