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The Global Business-to-business (B2B) E-commerce Market size is estimated to grow at a CAGR of 11.92% between 2022 and 2027. The market size is forecast to increase by USD 7,354.98 billion. The growth of the market depends on several factors, including the rise in adoption of B2B E-commerce in developing countries, the rise in online spending and smartphone penetration, and the recent advancements in B2B E-commerce.
This business-to-business e-commerce market report extensively covers market segmentation by application (home and kitchen, beauty and personal care, consumer electronics, and clothing and others), business segment (small and medium enterprises, and large enterprises), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The rise in the adoption of B2B e-commerce in developing countries is notably driving the market growth, although factors such as the rise in the number of data and cybersecurity concerns in B2B e-commerce may impede the market growth. 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 global B2B e-commerce 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 vendors in B2B E-commerce is the primary trend shaping the global B2B e-commerce market growth. Vendors 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, vendors 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 vendors can help businesses expand their reach into new markets. By partnering with local vendors 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 global B2B e-commerce 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.
Global Business-to-Business (B2B) E-Commerce Market Customer Landscape
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 2,600.80 billion in 2017 and continued to grow until 2021. 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 35% 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 COVID-19 pandemic had a positive impact on the region, especially in China, South Korea, India, and Malaysia. The pandemic brought stringent lockdowns in most countries across the region, which prevented people from venturing out of their homes. This situation led to a rise in the number of people opting to shop for groceries, food items, clothing and apparel, and other consumer goods through E-commerce platforms. All these factors compelled consumer goods companies to increase their presence on online platforms to sell their goods and services. Therefore, the shift to online platforms to purchase goods and services provided high growth opportunities for market vendors during 2020-2021.
Vendors 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 vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The business-to-business e-commerce market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Business To Business (B2B) E-Commerce Market Scope |
|
Report Coverage |
Details |
Page number |
153 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.92% |
Market growth 2023-2027 |
USD 7,354.98 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
11.5 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 35% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, 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 growth inducers and obstacles, Fast-growing and slow-growing segment analysis, 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. |
We can help! Our analysts can customize this market research report to meet your requirements.
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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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