B2B E-Commerce Market Segmented By Deployment Model (Intermediary-oriented, Buyer-Oriented, and Supplier-oriented): By Application (Home & Kitchen, Consumer Electronics, Industrial & Science, Healthcare, Clothing, Beauty & Personal Care, Sports Apparels, Books & Stationary, Automotive, Others): and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
The B2B E-Commerce Market to surpass USD 28.5 trillion by 2030 from USD 6.4 trillion in 2020 at a CAGR of 16.5% within the coming years, i.e., 2020-30.
B2B e-commerce is the sale of goods or services between companies via an online sales portal. Generally, it is used to improve the efficiency and effectiveness of a company's sales efforts. Instead of taking orders manually, by phone, or by email using human resources (sales reps) - orders are taken digitally, reducing overall costs B2B buyers are rapidly moving towards a digital-first approach and are increasingly looking for online transactions your own time. the B2B landscape.
A significant number of startups are entering the B2B e-commerce space to take advantage of the opportunities and profits of these markets. B2B is considered to be the fastest-growing e-commerce platform and offers great potential for small and medium-sized companies. The growth of vertical or specialized markets is one of the latest trends in B2B E-Commerce Market. Companies are increasingly using big data to offer a personalized customer experience. Market thrust has become one of the biggest trends in B2B e-commerce due to the increasing popularity of a mobile business. Cloud systems are on the rise as conventional platforms that are not designed for this size are overloaded.B2B e-commerce companies are also integrating their systems and platforms to create an omnichannel interaction with their customers.
In March 2019, Flipkart Pvt. Ltd. announced the formation of an in-house fund of $ 60 million to $ 100 million to invest in early stages and initial e-commerce ideas. In addition, China's “Comprehensive Rural E-Commerce Demonstration Project” is helping the country hold e-commerce application demonstrations in eight provinces.
In June 2020, Mastercard acquired Finicity, an open banking service provider, for $ 825 million. In the same month, Alibaba added digital features like trade finance and freight functions to enhance the digital experience for its B2B customers
B2B E-Commerce Market is segmented by Deployment Model into Intermediary-oriented, Buyer-Oriented, and Supplier-oriented. The Intermediary-oriented segment dominated the market with a revenue share of more than 50% in 2020. The middleman model is a boon for businesses to scale and will play a critical role in supporting the growth of the middleman-centric segment in the e-commerce market Business to Business (B2B). Additionally, the Supplier-oriented B2B e-commerce model is expected to have a large CAGR from 2020 to 2030. Cisco Connection Online is a classic example of a provider-centric business-to-business model. For example, Dell sells over 85% of its computers to businesses through a Supplier-oriented model.
B2B E-Commerce Market is segmented by Application into Home & Kitchen, Consumer Electronics, Industrial & Science, Healthcare, Clothing, Beauty & Personal Care, Sports Apparels, Books & Stationary, Automotive, Others. The Home & Kitchen segment generated the largest share of sales in 2020 at over 15%. The segment remained immune to the effects of COVID19 The demand for small appliances and other kitchen products gained in importance in 2020, as people spent more time at home. Local blockades, however, presented a challenge for B2B providers when it came to fulfilling orders.
Rise in millennial shoppers
Millennials make up a significant part of today's workforce. 73% of them are B2B online buyers and prefer to do their own research online rather than speaking to a seller. This allows them to shop more informed and impartial and to boost the B2B E-Commerce Market.
Pressure is building to make the organization more efficient through B2B E-Commerce
The need to improve the customer experience, increase sales, reduce costs, and be more efficient are three common factors that drive a company to adopt B2B e-commerce. B2B e-commerce not only increases efficiency, it also improves the customer experience. Occurrence of various technological advances, for example, AI (Artificial Intelligence), VR (Virtual Reality), AR (Augmented Reality), etc., these were bases in view of the growing popularity of the B2B E-Commerce Market.
Complications of the services or the products
Complications of services or products presented by companies to traders act as a major obstacle to penetration of the B2B e-commerce market.
The ongoing pandemic has forced several companies to go online to serve customers around the world. Companies are still exploring viable forms of online channels based on industry, location, and competition. While the coronavirus outbreak wreaked havoc around the world, limiting physical contact and ensuring business continuity became a top priority for companies. Therefore, several business-to-business providers have encouraged their customers to buy. For example, Fast Parts, a distributor of agricultural machinery parts that is trying to open a webshop to meet customer requirements. In these unprecedented times, B2B players have seen the benefits that B2B platforms bring in the form of increased brand awareness and revenue.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
The B2B E-Commerce Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. The Asia-Pacific region has become a dominant regional market, accounting for more than 60% of the total B2B revenue share in 2020, businesses moving to the internet to create opportunities for the region. The pandemic has forced several companies to go online, creating opportunities for B2B e-commerce to grow. Strong growth is forecast for North America in the forecast period. The spread of big giants like Amazon.com Inc., eBay Inc. has already established strong B2B sales channels in the regions.
|Market size value in 2020
|USD 6.4 trillion
|Revenue forecast in 2030
|USD 28.5 trillion
|CAGR of 16.5% from 2021 to 2030
|Base year for estimation
|Revenue in USD million and CAGR from 2021 to 2030
|Revenue forecast, company ranking, competitive landscape, growth factors, and trends
|Deployment Model, Application, 0and Region
|North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
|Key companies profiled
|Amazon, Alibaba, Rakuten, India MART, Walmart, Mercateo, Magento (Adobe), Global Sources, Cdiscount Pro, Price Minister SAS, Fnac Pro
The B2B E-Commerce Market size was estimated at USD 6.4 trillion in 2020 and is expected to reach USD 28.5 trillion by 2030.
Key Players: Amazon, Alibaba, Rakuten, India MART, Walmart, Mercateo, Magento (Adobe), Global Sources, Cdiscount Pro, Price Minister SAS, Fnac Pro,
Intermediary-oriented segment is anticipated to hold the B2B E-Commerce Market share
Rise in millennial shoppers and Pressure is building to make the organization more efficient through B2B E-Commerce.
B2B e-commerce is the sale of goods or services between companies via an online sales portal. Generally, it is used to improve the efficiency and effectiveness of a company's sales efforts.
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