According to research by analysts IDC, the Asia-Pacific (excluding Japan) e-commerce applications market will exceed US $1.3 billion by the year 2003 if current trends continue.
The market reached revenues of $US20.8 million in 1998 a staggering 104 per cent increase on the same period a year earlier. IDC predicts a further 95 per cent growth in 1999 to $40.45, $169.76 million in 2000 and exponential growth into the year 2003.
E-commerce applications growth is being driven by more organisations adopting software products rather than developing their own e-commerce solutions, claims IDC.
Leading the charge for e-commerce applications vendors is Australia and New Zealand. IDC attributes this to mature IT infrastructures, English speaking populations and a high Internet user rate.
IDC figures showed eight vendors - Oracle, OpenMarket, InterShop, Sterling Commerce, Ariba, Netscape, BroadVision and InterWorld accounted for 75 per cent of the total licence sales revenue for the region. IDC also forecasts a growth in the number of software vendors entering the market.