billion by the end of 2030 from US$ 8,523.3 billion in 2021, at a CAGR of 14.1%
The global B2B e-commerce market size was US$ 8,523.3 billion in 2021. The global B2B e-commerce market size is forecast to reach US$ 18,771.4 billion by 2027, growing at a compound annual growth rate (CAGR) of 14.1% during the forecast period from 2022 to 2027.
Business-to-business Online business-to-business sales transactions are referred to as electronic commerce or B2B electronic commerce. B2B electronic commerce is used to improve a company's sales performance; since orders are fulfilled online, distributors, manufacturers, wholesalers, and other sorts of B2B sellers can purchase goods and services more effectively. There are specific issues with the way goods are purchased and sold for B2B marketing. First and foremost, B2B customers usually use a committee structure and make significant amounts of purchases. As a result, rather than being decided by a single person, purchasing choices are made by a team of individuals working for a company termed a "buying center." As a result, it's essential to focus on various employees within a corporation.
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Factors Influencing Market Growth
- The rising popularity of the specialized B2B online marketplace drives the global market.
- A high focus on digital experiences and retail businesses emigrating to online operations boost the global market growth.
- The rise in online fraud attacks, less reliability, and different tax system may slow down the overall market growth.
Impact Analysis of COVID-19
The COVID-19 pandemic had a positive impact on the global market. The COVID-19 pandemic has brought about a shift in consumer preference for online shopping, creating avenues for market growth. In the first half of 2020, the pandemic impacted several businesses across the globe. With stay-at-home restrictions, numerous consumers and businesses went digital to buy and sell goods and services online. Moreover, the proliferation of cloud services and web applications has boosted the demand for B2B e-commerce businesses. Manufacturers, wholesalers, and distributors have been undergoing digital transformation gradually over the years to create a sustainable future for their respective businesses.
Regional Analysis
The Asia Pacific region garnered a substantial market share in 2021 and is forecast to have considerable growth during the forecast period. The growth in internet penetration and smartphone use has led to a rise in the number of online suppliers and customers.
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Leading Competitors
The leading prominent companies profiled in the global B2B e-commerce market are:
- com, Inc.
- com
- com
- eBay Inc.
- com
- Flexfire LEDs
- com
- IndiaMART InterMESH
- KOMPASS
- Quill Lincolnshire, Inc.
- Other Prominent Players
Scope of the Report
The global B2B e-commerce market segmentation focuses on Type, Payment Mode, Enterprise Size, and Region.
Segmentation based on Type
- Cleaning supplies
- Hospitality Products
- Industrial & MRO
- IT Products
- Office Supplies
- Pantry Products
- Others
Segmentation based on Payment Mode
- Credit card
- Net banking
- Mobile wallet apps
- Others
Segmentation based on Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
Segmentation based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
South America
- Brazil
- Argentina
- Rest of South America
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