The global B2B e-commerce market size was US$ 6.8 trillion in 2021. The global B2B e-commerce market is projected to grow to US$ 26.5 trillion by 2030 by registering a compound annual growth rate (CAGR) of 17.5% during the forecast period from 2022 to 2030.
B2B e-commerce refers to the process of selling goods through an online channel. B2B e-commerce efficiently improves the efficiency and effectiveness of a company's sales. Unlike conventional methods, orders are placed through phone or e-mail.
Factors Influencing the Market
The growing range of millennial shoppers will drive the growth of the B2B e-commerce market during the study period. Apart from that, the convenience offered by the B2B e-commerce platforms is a significant factor contributing to the market growth. B2B e-commerce has various other benefits, such as increased efficiency, improved customer experience, etc, which will have positive impact on the overall market.
The market is expected to record ample growth opportunities in the coming years due to growing advancements in delivery services. For instance, the advent of AI (Artificial Intelligence), VR (Virtual Reality), AR (Augmented Reality), etc., has efficiently changed the outlook of the B2B e-commerce market. Additionally, the rising efforts towards improving consumer experience are expected to have a notable contribution to the B2B e-commerce market during the analysis period.
Companies are investing highly in advancing their capabilities. For instance, Flipkart Pvt. Ltd. declared the development of an in-house fund of $ 60 million to $ 100 million in 2019. On the flip side, the complications of the services of B2B eCommerce may limit the growth of the overall market during the study period.
COVID-19 Impact Analysis
In the wake of the COVID-19 pandemic, online delivery portals recorded a drastic rise in the user base. The pandemic forced several companies to adopt online methods in order to cope with the race. Thus, it contributed to the market growth. The market may also witness potential opportunities in the future due to the substantial rise in the proliferation of the internet.
Regional Analysis
The Asia-Pacific B2B e-commerce market is expected to hold the largest market share in the coming years, owing to the large population of the region and steadily rising internet usage. Apart from that, businesses are significantly shifting to the internet, which will develop opportunities for the B2B e-commerce market.
The pandemic has notably affected the countries like India and China, which forced firms to operate online. Apart from that, North America will have a significant contribution during the study period due to the presence of a vast range of prominent industry giants like Amazon.com Inc., eBay Inc., etc.
Competitors in the Market
• Amazon
• Alibaba
• Rakuten
• India MART
• Walmart
• Mercateo
• Magento (Adobe)
• Global Sources
• Cdiscount Pro
• Price Minister SAS
• Fnac Pro
• Other Prominent Players
Market Segmentation
The global B2B e-commerce market segmentation focuses on Deployment, Application, and Region.
By Deployment Model
• Supplier-oriented
• Buyer-oriented
• Intermediary-oriented
By Application
• Home & Kitchen
• Consumer Electronics
• Industrial & Science
• Healthcare
• Clothing
• Beauty & Personal Care
• Sports Apparels
• Books & Stationary
• Automotive
• Others
By Regional Outlook
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America