Ecommerce worth $1.5tr by 2004

NEWS Goldman Sachs claims ecommerce will be worth $1.5tr by 2004 - fuelled mainly by business-to-business purchases. The report claims that although consumer sites are getting all the press, it is business that will generate most of the revenue. The process is being increasingly driven by IT and finance managers. Business to business commerce is divided into "E-frastructure" and "E-markets". E-frastructure is the architecture required to sell on the Web, such as content management software and transaction systems while e-markets are the sites where goods and services are actually sold. The report highlights certain industries likely to lead business to business ecommerce - computer hardware and software, aerospace/defence, electronics, chemicals, motor vehicles, medical equipment and transport.