New Delhi, May 30, 2022 (GLOBE NEWSWIRE) — The global B2B e-commerce market is expected to register a CAGR of 14.1% during the forecast period 2022-2027. The global B2B e-commerce market is expected to reach US$18,771.4 billion by 2027.
Increased emphasis on digital experiences, rising popularity of specialized B2B online marketplace, and migration of retail businesses to online operations are the factors driving the B2B e-commerce market. Modern B2B buyers make a significant contribution to the overall shopping experience. B2B sellers are keenly focused on offering personalized services, tailored specifically to the needs of individual buyers. The growing emphasis on digital sales channels has helped the B2B industry cater to more sales and made it easier for buyers. Moreover, with the increase in technological advancements and demand factors, the specialized B2B market is growing rapidly and moving towards creating high-level impact. Moreover, the adoption of new payment options and the demand for fast B2B order processing is creating an opportunity for lucrative growth in the market.
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The adoption and ease of new payment methods will attract new buyers and the increase in transactions will in turn create a big impact on the profits of B2B companies. However, supply chain disruptions have a direct impact on B2B sales, lack of standard solutions, political instability impact on B2B trade is limiting market growth. Political instability affects business trading to some extent, but in the long term it is unlikely to affect it. The impact will slow as nations and companies work to recoup losses and ease regulatory guidelines.
On the basis of type, the IT product segment held the largest share of the B2B e-commerce market in 2021, as the digital economy has a significant impact on the global trajectory as well as the socio-economic well-being of people ordinary. Everything from resource allocation to income distribution and growth is influenced by it. While Pantry Products are expected to grow at the highest CAGR over the forecast period. Additionally, based on the payment method, the check segment is the most popular B2B payment method in 2021 as it offers various benefits including reliability, ease of tracking, and no bank account. While the mobile wallet application segment is expected to project the highest CAGR during the forecast period, as it enables one-time payments by yourself, without having to rely on third parties, and also provides secure transaction . Further, by enterprise size, the small and medium-sized enterprise segment dominated the B2B e-commerce market in 2021. Enterprise adoption of business-to-business (B2B) technologies is expected to increase process efficiency, reduce costs , improve the quality and availability of information, eliminate inappropriate behavior and improve service. While the large enterprise segment is expected to grow at the highest CAGR during the forecast period.
By region, Asia-Pacific holds the largest market share in 2021 due to increasing internet penetration and the use of smartphones has led to an increase in the number of online vendors and customers in the region. Also, Asia-Pacific is expected to project the highest CAGR over the forecast period in the market. Additionally, North America is also expected to grow rapidly over the projection period. The presence of large companies such as eBay Inc., Amazon.com Inc. and others has created strong B2B sales channels in the regions.
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|Market size value in 2021||US$8,523.3 billion|
|Market Outlook for 2027||US$18,771.4 billion|
|Expected CAGR Growth||14.1%|
|Main market players||Alibaba, Amazon, Inc., ChinaAseanTrade, DIYTrade, eBay Inc, eWorldTrade, Flipkart, Global Source, IndiaMART InterMESH Ltd, KellySearch and KOMPASS among others|
|Segments Covered||By type, by payment method, by company size, by region|
|Geographical areas covered||North America, Europe, Asia-Pacific, Middle East and Africa, South America|
|Personalization options||Get your personalized report according to your preferences. Ask for customization|
The global B2B e-commerce market is highly competitive to increase its presence in the market. Some of the major players operating in the market include Alibaba, Amazon, Inc., ChinaAseanTrade, DIYTrade, eBay Inc, eWorldTrade, Flipkart, Global Source, IndiaMART InterMESH Ltd, KellySearch, and KOMPASS among others.
- Alibaba Group Holding Limited is a Chinese multinational technology company specializing in e-commerce, retail, Internet and technology. Their business includes basic commerce, cloud computing, digital media and entertainment. Additionally, they provide technology infrastructure and marketing reach for merchants, brands, and other businesses to leverage the power of new technologies to engage with their customers and grow their respective businesses in the future.
- Amazon.com, Inc. is a technology company that focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. It is one of the Big Five companies in the US information technology industry, along with Google, Apple, Microsoft and Facebook. The company is also a cloud service provider through AWS and is a leader in digital assistants with Alexa and Echo.
- eBay Inc. is a San Jose, California-based e-commerce company that facilitates consumer-to-consumer and business-to-consumer sales through its website. It is one of the largest online retail companies in the world. Additionally, Ebay’s strategy is to provide a global trading platform where virtually anyone can trade virtually anything.
- Global Source is one of the growing B2B marketplaces located in Hong Kong that bridges the gap between buyer and seller online and offline through trade shows, digital platforms and magazines. Furthermore, the company’s goal is to be the most reliable, customer-centric, multi-channel B2B business platform and to connect genuine buyers and suppliers worldwide, with tailored solutions and insights. reliable in the market.
Global B2B E-Commerce Market Segment Overview:
- cleaning supplies
- Welcome product
- Industrial & MRO
- Computer products
- Office supplies
- Pantry products
By payment method
- Credit card
- Net banking
- Mobile wallet apps
By business size
- Small and medium enterprises
- Large companies
- Great Britain
- The rest of Europe
- Asia Pacific
- Australia and New Zealand
- Rest of Asia-Pacific
- Middle East and Africa (MEA)
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Rest of South America
For more information on the market with a table of contents and detailed figures, click here: https://www.astuteanalytica.com/industry-report/b2b-e-commerce-market
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