The latest study to measure the worth of the Internet economy pegs the market at $507 billion. The University of Texas study, released this week, reports on money generated via the Internet from the first quarter of 1998 to the first quarter of 1999. The study reports:
Internet-related industries grew from $64 billion during the first three months of 1998 to $108 billion in the first three months of 1999.
Use of e-commerce by businesses increased 127% in the same time period.
One-third of the 3,400 businesses surveyed did not exist before 1996.
Internet-related industries generate more annual revenue than the U.S. telecommunications industry ($300 billion) or U.S. airline industry ($355 billion). The study, sponsored by Cisco Systems, was conducted by the Center for Research in Electronic Commerce at the University of Texas Graduate School of Business.