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The Business-to-business E-commerce Market size is estimated to grow by USD 11,158.3 billion at a CAGR of 15.2% between 2023 and 2028. The market's expansion relies on several factors, including the increasing uptake of B2B e-commerce in developing nations, the upsurge in online expenditures and smartphone penetration, and the recent strides in B2B e-commerce technologies. As businesses in emerging economies increasingly turn to online platforms for procurement and sales, the B2B e-commerce sector is experiencing significant growth. The widespread use of smartphones and the internet has facilitated this growth, enabling businesses to engage in e-commerce more conveniently and efficiently. Additionally, ongoing advancements in B2B e-commerce technologies are enhancing the overall user experience and driving further adoption among businesses globally.
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The market share growth by the home and kitchen segment will be significant during the forecast period. The home and kitchen segment includes furniture, home decor, kitchen appliances, and other household items. The home and kitchen segment has witnessed an impressive growth rate in recent years due to factors such as greater internet penetration, the rise of mobile commerce, and a shift toward online shopping.
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The home and kitchen segment was valued at USD 2,849.90 billion in 2018. The home and kitchen segment in the business-to-business e-commerce market is the increasing demand for eco-friendly products. Many businesses are making efforts to reduce their carbon footprint and are looking for sustainable alternatives to traditional home and kitchen items. This has encouraged suppliers to offer environmentally friendly products, ranging from compostable dinnerware to energy-efficient appliances. Thus, the above-mentioned factors are expected to propel the growth of the home and kitchen segment in the global market during the forecast period.
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APAC is estimated to contribute 37% to the growth of the global business-to-business (B2B) E-commerce market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The APAC region is emerging as a dominant player in the global business-to-business (B2B) E-commerce market. With a rapidly growing economy, increasing internet penetration, and rising demand for digital services, the region is poised for significant growth in the coming years.
One of the key drivers of B2B E-commerce in the APAC region is the rise of mobile technology. Mobile devices are ubiquitous in the region, and an increasing number of businesses are adopting mobile apps and online marketplaces to simplify their transactions. This has led to the creation of new business models and revenue streams, as more businesses leverage the power of mobile devices to access new markets and customers. Such factors will increase the market growth in this region during the forecast period.
The market is characterized by business scalability and the use of advanced technology platforms to facilitate transactions. Companies aim to increase sales volume by targeting specific audience profiles and collaborating with partners in delivery. Establishing a high level of trust is crucial for engaging buyers and members effectively. Advertising efforts focus on reaching relevant customers and securing investments to expand operations. In Greece, ecommerce is growing, with segmentwise share indicating market trends. Improved infrastructure facilities and efficient transportation systems enhance freight management for distributors, sole traders, wholesalers, and retailers. Platforms like Kompass play a vital role in connecting businesses and facilitating transactions. The technology platform enables the US to partner with individual supplier in delivery, advertise our products, and sell finished goods efficiently. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rise in the adoption of B2B e-commerce in developing countries is the key factor driving the growth of the market. B2B e-commerce adoption has significantly increased across developing countries in recent years. Businesses in these regions have come to recognize the many benefits that online trading can bring, such as cost-effectiveness, efficiency, and broader market reach. This has led to a significant shift towards digital operations and the incorporation of digital technologies into everyday business practices. One of the primary drivers of B2B E-commerce adoption in developing countries is the increasing need for businesses to stay competitive in the global marketplace. As businesses are going digital, they are no longer confined to their local markets but have access to a global audience. This means that businesses that fail to adopt digital technologies risk being left behind in this highly competitive business environment. Another factor driving the growth of B2B E-commerce is the rise of mobile technologies.
Nowadays, almost everyone has access to mobile devices, which means that businesses can reach their customers regardless of their location. This increased access to mobile technologies has made it more convenient for businesses to communicate with their customers and transact business online. B2B E-commerce adoption has also been fueled by improving infrastructure in developing countries. In the past, businesses in these regions faced challenges with unreliable internet connectivity, but this is no longer the case. With the proliferation of mobile technologies and better internet connectivity, businesses can engage with their customers more efficiently, speed up supply chain processes, and boost sales performance. Thus, the above-mentioned factors are expected to drive the growth of the global market during the forecast period.
An increase in strategic collaboration among companies in B2B E-commerce is the primary trend shaping market growth. companies in the B2B E-commerce space are increasingly collaborating strategically to gain a competitive edge in the market. This trend is driven by the need for businesses to enhance their offerings and improve their customer experience. For example, companies can collaborate on product development to create innovative solutions that cater to specific industry needs. This collaboration can result in more comprehensive product offerings that meet the varied requirements of different target audiences.
Furthermore, strategic collaboration among companies can help businesses expand their reach into new markets. By partnering with local companies with established networks, businesses can gain access to new customers and increase their market share. For instance, in August 2022, Razer Merchant Services (RMS) announced a partnership with Apaylater Financials Pte. Ltd (Atome), an Asia-based Buy Now Pay Later (BNPL) service. The main aim of the partnership was to enable flexible deferred payment acceptance during checkout at online and offline RMS merchants. Thus, the above-mentioned factors are expected to fuel the growth of the global market during the forecast period.
The rise in the number of data and cybersecurity concerns in B2B E-commerce is a major challenge impeding the growth of the market. The surge in B2B E-commerce has led to a significant rise in data and cybersecurity concerns. While businesses are embracing the digital age and various technologies, they are also opening themselves up to increased risks. The importance of data security and privacy cannot be overstated, especially in today's digital landscape, where cyberattacks are rampant. One of the main challenges in B2B E-commerce is the sharing of sensitive business information. This shared information can include client records, financial data, and intellectual property, among other things. The data has to be secure, both in transit and at rest, to protect businesses from cyber threats, hacking, and data breaches.
B2B E-commerce also faces legal and regulatory requirements related to data privacy, such as the EU General Data Protection Regulation (GDPR). Businesses engaged in B2B E-commerce must comply with these regulations to protect the privacy of their customers. Noncompliance can result in hefty fines and damage to a business's reputation. Furthermore, the risk of insider threats is becoming more prevalent in B2B E-commerce. Employees with malicious intent or negligence can put sensitive business information at risk. Therefore, businesses must adopt a layered security approach that includes regular training, monitoring, and strict access control. Thus, the above-mentioned factors are expected to hamper the growth of the global market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
BigCommerce Holdings Inc.: The company offers business-to-business ecommerce services such as the BigCommerce B2B e-commerce platform. Also, the company offers a software-as-a-service (SaaS) e-commerce platform, API-driven commerce, headless commerce, cross-channel commerce, and enterprise services.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The market is experiencing significant growth due to technology improvements such as machine learning and data analytics, which enhance operations and decision-making. The availability of high-speed internet and multilingual websites enables seamless transactions across borders. Virtual platforms, augmented reality, and virtual reality are revolutionizing the clothing segment by offering immersive experiences. Collaborations with technology platforms and partner in delivery optimize processes for individual suppliers. Advertising strategies target different segments, with platforms like Jungle Ventures and Accel Partners supporting growth in Greek ecommerce. The market is categorized into Supplier-Oriented, Buyer-Oriented, and Intermediary-Oriented approaches, with a focus on direct sales and branding. Industries such as Construction, Telecom and Media, and Transportation and Logistics are leveraging B2B e-commerce for sourcing parts, tools, machinery, and procuring materials. Platforms like Thomasnet and KellySearch facilitate bulk purchasing and connect manufacturing firms with established customers in need of broadcast equipment.
Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15.2% |
Market growth 2024-2028 |
USD 11,158.3 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
12.86 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 37% |
Key countries |
US, China, Germany, UK, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adobe Inc., Alibaba Group Holding Ltd., Amazon.com Inc., BigCommerce Holdings Inc., ChinaAseanTrade.com, DIYTrade, eBay Inc., EC21 Inc., Eworldtrade.com, Flexfire LEDs Inc., Flipkart Internet Pvt. Ltd., Increff, IndiaMART InterMESH Ltd., Mercateo Deutschland AG, Newegg Business Inc., PT Bhinneka Mentaridimensi, Shopify Inc., Storehippo, Trade B2B, and Xometry Inc. |
Market dynamics |
Parent market analysis, Market forecasting, market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Business Segment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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