Internet

The Internet continues to grow, driven by ever greater amounts of online information and knowledge, commerce, entertainment and social networking. The estimated total number of Internet users is 2.095 billion (30.2% of world population). It is estimated that the Internet now carries more than 97% of all telecommunicated information was carried over the Internet. Overall Internet usage has seen tremendous growth. The prevalent language for communication on the Internet has been English. Electronic business (E-business) involves business processes spanning the entire value chain: electronic purchasing and supply chain management, processing orders electronically, handling customer service, and cooperating with business partners. E-commerce seeks to add revenue streams using the Internet to build and enhance relationships with clients and partners. According to research firm IDC, the size of total worldwide e-commerce, when global business-to-business and -consumer transactions are added together, will equate to $16 trillion. I Date, another research firm, estimates the global market for digital products and services at $4.4 trillion. A report by Oxford Economics adds those two together to estimate the total size of the digital economy at $20.4 trillion, equivalent to roughly 13.8% of global sales. While much has been written of the economic advantages of Internet-enabled commerce, there is also evidence that some aspects of the Internet such as maps and location-aware services may serve to reinforce economic inequality and the digital divide. Electronic commerce may be responsible for consolidation and the decline of brick and mortar businesses resulting in increases in income inequality. The global internet access market has total revenues of $242,420.1m, representing a compound annual growth rate (CAGR) of 13.8%. Market consumption volume increased with a CAGR of 10.2%, to reach a total of 573,193.2 thousand subscribers. The performance of the market is forecast to decelerate, with an anticipated CAGR of 8.2% over the next five years, which is expected to drive the market to a value of $359,280.7m.