U.S. electronic business forecast to grow sharply

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Chantilly, Va.--Marketing services company Input reported Tuesday that ``electronic business'' was a $93 billion industry in 2001. Input, which produces such marketing programs as total cost of ownership studies, channel promotion programs and testimonial databases, said in its just-released 200-page ``U.S. Electronic Business Industry Forecast 2001-2006'' that e-commerce commanded about 20% of the average company's information technology budget in 2001. It predicted that figure would grow to 60% of the average budget by 2006. As it does, sales of supporting software and services for e-business exchanges will rise from $93 billion in 2001 to $370 billion by 2006. Input President Peter Cunningham said that although many companies are reducing IT expenditures, one area they don't skimp on is e-business.

--John Evan Frook

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