Enterprise demand for tighter and more efficient buyer and supplier management functions will result in a technology-enabling market sized at more than $US20 billion by 2003, according to recent research undertaken by Aberdeen Group. This market will be made up of segments that include general market management platforms (top-tier and mid-tier); market-enabling components; and vertical market technology.
Aberdeen's analysis indicates that by 2003, more than $US2000 billion in transactions will run through value chains comprising electronic business-to-business systems, and almost half of these transactions will be driven through private or public electronic market management systems, such as Net markets.
For enterprises to remain viable, inefficiencies must be squeezed out of their supply and demand chains, an Aberdeen analyst explained. Electronic markets and process hubs will play critical roles in co-ordinating process functions between market participants, and this dynamic will drive demand for technology that enables companies to either participate in or build these electronic value chains.