Report: U.S. Internet Sector To Hit $500 Billion By 2002

A new white paper from International Data Corp., an IT consultancy and marketing research company in Framingham, Mass., predicts the Internet boost to the economy resulting from its estimated 100 million users will hit $124 billion this year and over half a trillion dollars in 2002. Including input from 630 companies deemed "architects of the Internet," the study examines Internet-related spending of businesses and consumers.

Other key findings:

  • By 2002 U.S. businesses will spend over $200 billion on Internet-technology deployment -- 20% of all spending on technology. By the end of 1998 that spending will reach over $62 billion.
  • Spending in areas not related to technology -- such as content creation, marketing and sales, and professional services -- will grow even faster to over $300 billion in 2002.
  • In head-to-head case study comparisons of selected application investments, first-year return on investment (ROI) for Web applications was 245%, compared with leading-edge client/server applications at 95%.
  • The availability of venture capital to invest in Internet companies will nearly double this year to over $8 billion.
  • Total Internet commerce -- the purchase of goods and services over the Internet -- in the United States will close in on $250 billion in 2002.
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