MEDIA-I: Asia-Pacific B2B market to reach dollars 500b by 2005

The Asia-Pacific business-to-business (B2B) market is expected to grow at an unprecedented rate over the next five years, with business purchases over the internet catapulting by more than USdollars 500 billion by 2005, according to the IDC. The researcher's report shows that companies in the region, excluding Japan, will purchase more than USdollars 516 billion of direct and indirect materials through the internet by 2005. That figure represents a 3,900 per cent increase over the USdollars 12.8 billion spent last year. The report also revealed a stark contrast between internet-related stock market sentiment in Asia-Pacific compared with B2B e-commerce revenue forecasts. It added that internet-related firms should take advantage of this growing opportunity rather than dwell on the losses that have surrounded the internet. Singapore-based Richard Jacobson, IDC's B2B internet research manager, said: "Investors who are cringing away from internet-related markets should be seeing the tremendous potential in the B2B e-commerce market." The report added that businesses must first overcome many challenges.

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