Business-To-Business (B2B) E-Commerce Market

Business-To-Business (B2B) E-Commerce Market

Market Synopsis

Global Business-To-Business (B2B) E-Commerce Market is valued at 6.92 USD Trillion in 2021 and is projected to reach a value of 18.97 USD Trillion by 2028 at a CAGR of 18.30% over the forecast period.

The COVID-19 pandemic brought a change in consumer shopping preference from over the counter to online shopping, creating the demand for growth of the market. The coronavirus pandemic, limited physical contact but to ensure business continuity, several business-to-business vendors encouraged their customers to shop online, driving the growth of the market in the forecast period. The increase in the number of orders, changes in consumer behavior, supply chain disruptions, and closure of physical stores have positively impacted the Business-To-Business (B2B) E-Commerce business outlook. One of the major factors propelling the market's growth is population increase around the world. In addition, rising internet penetration and the use of devices such as smartphones, laptops, and tablets to access e-commerce websites are boosting the market growth. The rising preference for online shopping, particularly among women, as well as the growing influence of social media platforms on purchasing behavior, will fuel the growth of the market in the coming years. The rapid advancement in technology related to financial transactions will play an increasingly important role in business-to-business transactions as it becomes smarter and more complex. Moreover, its advantage allows businesses to conduct business without having to maintain a physical presence, saving money on infrastructure, communication, and overhead, lower costs associated with logistics and customer support will propel the growth of the market in the approaching years.

Market Segmentation:

The Business-To-Business (B2B) E-Commerce Market is segmented on the basis of type and application. On the basis of type, the market is segmented as Supplier-Oriented, Buyer-Oriented, and Intermediary-Oriented. On the basis of application, the market is segmented as Home & Kitchen, Consumer Electronics, Industrial & Science, Healthcare, Clothing, Beauty & Personal Care, Sports Apparels, Books & Stationary, Automotive, Others

Based on application, the home and kitchen segment dominated the market in the forecast period.

The home and kitchen segment captured the highest revenue share over the forecast period. The demand for small appliances and other kitchen products witness tremendous growth during the pandemic as people spent more time at home. The wide range of products, lower cost, social media influence, and the rising awareness about a healthy lifestyle, fuel the growth of this segment in the forecast period.

The demand for consumer electronics through online channels also witnessed significant growth during the forecast period. During the pandemic, the consumer’s focus on purchasing durables and electronics, including laptops, smartphones, ACs increased. Remote working also led consumers to invest in electronics that supported the work-from-home. All these factors drove the demand for consumer electronics in the market, which is expected to drive the market in the coming years.

Based on type, the intermediary segment dominated the market in the forecast period.

The intermediary segment acquired the largest share of the market in the forecast period. The online deployment model enabled the seller to reduce costs in hosting a website, logistics, and customer support. The intermediate model aids in company scalability and will play an important role in the expansion of the intermediary-oriented segment in the Business-To-Business (B2B) E-Commerce industry.

The supplier-oriented Business-To-Business (B2B) E-Commerce model is projected to grow at a rapid pace during the forecast period. The supplier-oriented model helps customers gather information about suppliers of any product in a region or country.

During the projection period, Asia Pacific dominated the market.

Asia Pacific region is expected to acquire the largest share of the market during the forecast period. The growing numbers of B2B vendors in the region created an opportunity for the growth of the e-commerce sector in the region. The pandemic forced various businesses to shift to online creating opportunities for the growth of Business-To-Business (B2B) E-Commerce. Vendors in the region are now building technology that supports their business, marketing in an online manner, and planning operational strategies that will help their business in the long run.

North America is anticipated to show strong growth over the forecast period. The presence of major players in the region has already established the B2B markets in the regions. However, the pandemic has forced several other businesses to shift to the online business model to grow their business online and attract a wider audience. The factors like same-day delivery, enhanced shopping experience, integration of advanced technologies like advances in Artificial Intelligence (AI), and cloud technology will improve the customer experience, propelling for growth in the e-commerce space.

Competitive Landscape-

Some of the major key players in the Business-To-Business (B2B) E-Commerce Market are Amazon.com, Inc. eBay Inc. Flipkart.com IndiaMARTInterMESH Ltd. ChinaAseanTrade.com KOMPASS KellySearch.com Flexfire LEDs eworldtrade.com DIYTrade.com.

Business-To-Business (B2B) E-Commerce Market is segmented as follows:

Business-To-Business (B2B) E-Commerce Market is tabulated as follows: