The global business-to-business e-commerce market is expected to grow at a CAGR of around 19.1% from 2021 to 2028 and expected to reach the market value of around US$ 26.4 Tn by 2028.
Electronic commerce, also referred to as E-commerce or e-commerce, is the selling and buying of goods and services over computer networks like the Internet. Mobile commerce, electronic funds transfer, supply chain management, internet marketing, online transaction processing, electronic data exchange, inventory management systems, and automated data gathering systems are all examples of electronic commerce. The B2B e-commerce industry comprises of sales of business-to-business electronic market services by organizations that provide services in connecting buyers and sellers of goods via the Internet or other electronic methods in exchange for a commission or charge. Business-to-business e-commerce websites allow consumers to buy your products online while also providing a number of other advantages to your company. Any company can setup a B2B e-commerce website or engage in online marketplaces as a vendor. Buyers can create websites to advertise their requirements and see what suppliers have to offer. Sellers can create websites where customers can view offerings and place orders, similar to how B2C e-commerce platforms work. B2B portals serve a critical role in assisting SMEs and large-scale firms in reaching out to remote locations, and have evolved into a global way of doing business. These portals aid in the formation of new commercial partnerships between organizations as well as the prolongation of current ones. In addition, B2B e-commerce platforms enable firms to reduce marketing costs, improve supplier and customer management, and increase sales engagement. Virtual marketplaces that try to match customers and sellers are open to all types of businesses. Small businesses that do not have the need or willingness to establish and operate their own e-commerce website may benefit the most from these markets.
Over the forecast period, the market is expected to grow as technology advances. The increase in organizations’ preference for electronic or e-commerce platforms to establish their online presence is predicted to boost the growth of the business-to-business electronic market. From one company to the next by automating laborious operations, electronic markets enable businesses to reach a huge consumer base, cut costs, and enhance efficiency. Furthermore, as the market becomes more competitive, many organizations are turning to online business strategies to acquire a competitive advantage. Increasing number of small and medium businesses is also projected to boost the demand over the forecast period.
In the next years, rising cyber-attacks on business-to-business e-commerce websites are projected to slowdown the expansion of the business-to-business electronic sector. Cyber-attacks wreak havoc on a company's reputation as well as cause financial loss.
Segment Analysis by Region:
Based on region, the global e-commerce market is segmented as North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. North America is anticipated to record solid expansion, over the forecast period. Large corporations such as eBay Inc., Amazon.com Inc., and others have created strong business-to-business trading networks in the region. Asia Pacific has a large revenue share of the worldwide business-to-business (B2B) e-commerce market and is a prominent local market. The increase in the number of business-to-business merchants paved the way for e-commerce to grow in the region.
Covid-19 Impact on Global Business-to-Business E-commerce Market:
The COVID-19 pandemic has thrown a wrench in how consumers buy goods and services. Many businesses are leaning toward B2B e-commerce as a result of current social distance norms and limited mobility. As people spent more time at home in 2020, the market for small appliances and other kitchen equipment grew. Localized lockdowns, on the other hand, made it difficult for B2B sellers to execute orders. According to e-commerce industry analysts, this has had a good influence on the business, with some companies reporting a significant boost in product demand. Because social distancing, millions are migrating online and business-to-business (B2B) commerce are taking place digitally, millions of people are turning to the internet as a result of social alienation. COVID-19 promotes digital transformation and accelerates B2C and B2B e-commerce growth, according to the report, with technology-savvy millennial, who are now of the age to be professional B2B decision-makers, serving as the primary drivers of global E-commerce growth. For an extended period of time, the Covid-19 pandemic is projected to have an impact on how firms conduct business. For the bulk of B2B traders, online trading will be the norm.
The top key players in global Business-to-Business E-commerce Market include,Amazon.com, Inc., eBay Inc., Flipkart.com, IndiaMART InterMESH Ltd., ChinaAseanTrade.com, Kompass, Walmart, Mercateo, Magento, Global sources, Cdiscount pro, eworldtrade.com, KellySearch.com, Alibaba and Trade India.
Business-to-Business E-commerce Market Segment Analysis, 2021
The global market is segmented as Deployment type, Application, End-User and Geography. The Deployment type is further bifurcated as Supplier-oriented, Buyer-Oriented and Intermediary-Oriented. The Application is sub segmented as Home & Kitchen, Consumer Electronics, Healthcare, Clothing, Beauty & Personal Care, Sports Apparels, Automotive and Others. The end-user is further segregated as Network as a Service (NaaS), Data as a Service (DaaS), Storage as a Service (STaaS), Back-end as a Service (BaaS)
Market By Deployment Type
Market By Application
Home And Kitchen
Beauty And Personal Care
Market By End-User
Network as a Service (NaaS)
Data as a Service (DaaS)
Storage as a Service (STaaS)
Back-end as a Service (BaaS)
The global Business-to-Business E-commerce Market in 2028 is expected to be above US$ 26.4 Tn.
The CAGR of the global Business-to-Business E-commerce Market from 2021-2028 is 19.1%
The rising internet penetration and increase in organizations’ preference for electronic or e-commerce platforms is the major factor expected to drive the global market.
In Application, Home & Kitchen segment is expected to grow faster.
In the global market the Asia pacific region is expected to grow faster.
Amazon.com, Inc., Alibaba, eBay Inc., Trade India, Flipkart.com, India MART Inter MESH Ltd., ChinaAseanTrade.com, Kompass, Walmart, Mercateo, Magento, Global sources, Cdiscount pro, eworldtrade.com, KellySearch.com.
Asia Pacific is expected account for major market revenue share in global market.