The Asia market, which had 15 million users at end-1998, will grow at a compounded annual growth rate (CAGR) of 40 per cent during the next five years to total 64 million. "This growth rate is twice as much the growth rate expected in the US during the same period," the report said. The e-commerce market in Asia will grow even more rapidly and is expected to be worth $ 32 billion by 2003 clocking a CAGR of 145 per cent. This market was valued only at $ 700 million in 1998.

Internet Service Providers would offer the best revenue generation potential in the next 12 months, but advertising and e-commerce would become the most significant drivers for internet in Asia, over the medium to long term. Itpredicted successful Asian internet IPOs would be undertaken by companies with "qualified management teams, business models that are focused and sustainable, a track record of revenue growth and a history of successful execution."