B2B E-Commerce Market

Report Scope & Overview:

The B2B E-Commerce Market size was valued at USD 7965.5 Bn in 2022 and is expected to reach USD 33125.03 Bn by 2030 with a growing CAGR of 19.5% over the forecast period 2023-2030.

B2B e-Commerce is an abbreviation for business-to-business e-Commerce, which is described as the online selling of goods or services between businesses. Instead of receiving orders the usual manner (by phone or mail), transactions are handled online, which helps to cut down on overhead expenses significantly. One of the B2B e-Commerce myths is that some people assume they are not selling B2B. In fact, they may have done it once or twice but were unaware of it. Wholesale, selling to resellers, major or chain retailers' distributors, and selling to organizations are all examples of B2B sales. Therefore so many brands are selling  both B2B and B2C products.

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B2B marketplaces have several advantages, including digital capabilities, scalability, analytics accuracy, and a customer-centric strategy. Furthermore, technical advancements, such as the use of artificial intelligence and cloud technology, have enabled the B2B e-commerce sector to provide a better client experience. The internet has evolved as a significant tool for more effectively linking businesses and purchasers. Internet skills have a significant influence on the value chain of a firm.

As the business-to-business (B2B) market evolves, e-commerce has evolved from a nice-to-have to a must-have. The phenomenal expansion of e-commerce in recent years has increased the necessity for B2B firms to move their attention online. The main B2B e-commerce trends to grasp in order to find success with company model are given below.

1. Leave old systems in place.

2. Spend money on e-commerce platform technologies.

3. Customize your online purchasing experience.

4. Make product discovery and information a top priority.

5. Sell your products on third-party internet marketplaces.

6. Investigate social media networks.

7. Orders will be filled much faster.

Casablanca-based Chari, a B2B e-commerce startup, announced the purchase of Axa Credit, the loans section of Axa Assurance Maroc in Morocco. The acquisitions will enable the firm to speed its foray into new markets, whether in other locations. The company wishes to expand into other Francophone African nations, as well as into related companies such as lending to merchants and their clients.

MARKET DYNAMICS:

KEY DRIVERS:

• Increasing supply chain interruptions and an increase in the volume of orders.

• changes in customer behavior and the growing popularity of internet shopping.

• Increasing efficiency and gross margins.

RESTRAINTS:

• A lack of conventional solutions, as well as political instability.

• Payment security and data privacy problems.

OPPORTUNITY:

• Manufacturers, wholesalers, and distributors have been steadily undertaking digital transformation in order to ensure a sustainable future for their individual businesses throughout the years.

• Flexible payment methods are advantageous to company owners and Account-based transfers are projected to be more popular to businesses throughout the projection period because to their enhanced speed and security.

CHALLENGES:

• Upgrades in technology, capital expenditures, software licensing, implementation expenses, infrastructure costs, and server provisioning costs.

IMPACT OF COVID-19:

B2B e-commerce is now seeing rapid development in popularity. This is partly due to recent infrastructure upgrades, improved payment and security on the back end, and a greater requirement for businesses to conduct business online during the epidemic. Prior to the pandemic, B2B e-commerce was already increasing faster than the majority of B2C e-commerce. During a moment of poor economic activity, the COVID-19 epidemic has increased the demand for e-commerce. The epidemic affected various companies throughout the world in the first half of 2020. Due to time constraints, many consumers and businesses moved digitally to buy and sell products and services online. Furthermore, the spread of cloud services and online applications has increased demand for B2B e-commerce companies. Manufacturers, wholesalers, and distributors have been steadily undertaking digital transformation in order to ensure a sustainable future for their individual businesses throughout the years.

MARKET ESTIMATION:

The market may be divided into three types of deployment models: supplier-oriented, buyer-oriented, and intermediary-oriented. In 2021, the intermediary-oriented category dominated the market. This model governs commerce between manufacturers and customers. Furthermore, it relieves businesses, particularly MSMEs, of the significant costs of website creation, transportation, and customer care, making it a popular option. Supplier-oriented business-to-business e-commerce is also predicted to gain traction, with an increasing CAGR from 2022 to 2028. This concept is popular among local enterprises looking to expand into other areas or nations.

The market has been divided into applications such as home & kitchen, consumer electronics, industrial & scientific, healthcare, clothes, cosmetics & personal care, sports apparel, books & stationery, and automobile. In the same year, the home & kitchen category accounted for the highest percentage of the entire B2B e-commerce market. The influence of COVID-19, as well as the growing popularity of internet purchasing, have aided category expansion. In 2021, the consumer electronics market will also rise significantly. During the COVID-19 epidemic, there was an increase in demand for consumer electronics, notably cellphones and laptop computers, as well as other wearables. From 2022 to 2028, the category is predicted to increase at a favorable rate. The growing popularity of remote work has prompted people to invest in electronic devices. Furthermore, the growing usage of Augmented Reality (AR) technology to allow users to perceive items in real-time enables businesses to improve their online shopping experience.

KEY MARKET SEGMENTS:

On The Basis of Deployment Type

• Supplier-centric

• Buyer-centric

• Intermediary

On The Basis of Application

• Home & Kitchen

• Consumer Electronics

• Industrial & Science

• Healthcare

• Clothing

• Beauty & Personal Care

• Sports Apparel

• Books & Stationery

• Automotive

• Others

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REGIONAL ANALYSIS:

In 2021, Asia Pacific had the highest revenue share and is predicted to rise gradually compared to other regions throughout the projection period. Vendors in this region are focused on producing services that are aligned with the newest technology and will support their long-term commercial, marketing, and operational plans. Meanwhile, North America is predicted to develop at a strong rate, thanks to the presence of behemoths like Amazon.com, Inc. and eBay Inc. in the area. North American governments have enacted security legislation to safeguard their customers' personal and transaction information.

REGIONAL COVERAGE:

• North America

  • USA

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

• Asia-Pacific

  • Japan

  • south Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

• The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of Middle East & Africa

• Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

KEY PLAYERS:

The major key players are Amazon, Inc., ChinaAseanTrade.com, DIYTrade.com, eBay Inc., eworldtrade.com, Flexfire LEDs, Flipkart.com, IndiaMART InterMESH Ltd., KOMPASS, Quill Lincolnshire, Inc. & Other Players

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