IDC predicts that the Asia/Pacific (excluding Japan) or APEJ Web hosting services spending will increase from $521 mln in 2004 to $924 mln by 2008, representing a compound annual growth rate (CAGR) of 15% from 2004 to 2008. In terms of individual market trends, India is expected to have the largest CAGR, while Australia is expected to maintain its top market share. India's Web hosting services market is forecast to grow from $40.45 mln in 2004 to $95.14 mln at a CAGR of 24%, which is the highest in Asia/Pacific excluding Japan. Australia is forecast to grow from $176.62 mln in 2004 to $316.88 mln by 2008 with a CAGR of 16%. As per IDC's ebusiness market survey in Australia, growth in the Australian market is attributed to growth in public-facing Web sites, in online purchasing, in selling via the internet, and in information portals for external community interaction.