Global Internet Business Industry
In 2010, global B2C e-commerce generated between $400 billion and $600 billion in revenue, according to yStats. The market is predicted to reach between $700 billion and $950 billion by 2015.
There were over 2 billion internet users worldwide in 2011, this figure is expected to surpass 3 billion by 2015. Demand in Asia is set to fuel the market due to increased internet penetration. Revenue from B2C e-commerce accounts for less than 10% of overall retail market value in established markets including the UK and France, and may rise closer to 20% over the coming years. B2C e-commerce represents less than 3% of total retail market value in less established markets.
Key Market Segments
- The world online retail market expanded by almost 18% in 2010 to reach almost $435 billion, reports MarketLine. The market is expected to exceed $827 billion, an impressive 90% increase, in five years. Electronics represents the leading market segment at close to 25% of the overall market. The Americas hold a 41% share in the world online retail sector.
- The world online advertising market is expected to reach almost $73 billion by 2015, reports Global Industry Analysts. Market growth will be fuelled by rising numbers of internet users in established and developing markets. The US is the leading regional market. Asia-Pacific is expected to outpace other regions with a yearly growth rate of 15% through 2015.
- Koncept Analytics notes the shift from traditional healthcare to the e-healthcare system, which reduces patient travel while boosting healthcare service coverage. The increasing popularity of telemedicine will likely aid the existing healthcare system, which is faced with staff shortages and high costs. Telemedicine involves healthcare through multimedia equipment and telecommunications technology.
- In 2011, more than 2 million patients were availing of home healthcare monitoring through devices with integrated connectivity, reports Berg Insight. Home monitoring systems with integrated connectivity are set to record 18% yearly growth between 2010 and 2016 to reach almost 5 million connections worldwide. As many as 200 million patients across the US and the EU could be treated through integrated connectivity.
- The world e-pharmacy market is expected to reach almost $52 billion by 2017, according to Global Industry Analysts. E-pharmacies are obliged to satisfy ethical business practices and regulatory standards, and are contributing to the prescription drugs market, making it easier for patients to access drugs without physically going to a pharmacy. The presence of illegal e-pharmacies represents an obstacle to market growth.
- The world internet banking sector is expected to reach a customer base of almost 658 million by 2015, reports Global Industry Analysts. Market growth is fuelled by internet penetration and technology. Online banking provides a convenient alternative to having to physically visit the bank, and is particularly popular among younger customers. The US and the UK are the two leading regions in the internet banking sector.
- The world mobile banking sector is expected to exceed 1 billion customers by 2015, according to Global Industry Analysts. Apart from convenience and time efficiency, mobile banking also attracts customers for the lower transactional costs involved.
Key players operating in the global internet business sector include: Amazon, eBay, Google, and Groupon. Visiongain estimates Google holds more than a 95% share of the mobile searche market. Google predicted and caters to the market trend toward mobile demand as well as duly optimizes its services and core expertise to implement aggressive strategies that conquer the market. The company is forecast to generate revenue of close to $3 billion by 2016 from mobile search advertising.
Convergence and advances in technology are driving strong internet industry growth. Consumers have increasingly hectic lifestyles with less and less time on their hands for leisure and business pursuits. With rising numbers of consumers using mobile devices and internet connectivity constantly on the up and up, people are finding it more convenient to carry out as many of their day-to-day activities as possible over the internet. Internet businesses will continue to grow in coming years as people opt to log in for their banking, shopping, and even health care needs rather than physically visit banks, stores and pharmacies.
Leading Industry Associations