The global Business-To-Business E-Commerce Market size is estimated to reach USD 20.9 trillion by 2027, expanding at a CAGR of 17.5% during the forecast period, according to a study conducted by Grand View Research, Inc. In the early 2020, COVID-19 has majorly affected the e-commerce industry. Behavioral pattern of the customers has changed a lot amid lock down in countries such as U.S., Germany, Italy, Spain, India, China, and Russia. Online shopping is preferred during this phase due to constraints on publicgathering. Due to social distancing, millions are turning toward the internet since social interactions are moving online and business-to-business (B2B) communications are taking place digitally. According to e-commerce industry experts, this has positively impacted the industry and several companies have witnessed a tremendous increase in demand for products.
B2B portals play a pivotal role, helping
SMEs and large-scale enterprises reach remote areas, and becoming a way of
doing business worldwide. These portals facilitate in establishing new trading
relationships between companies in addition to supporting existing
relationships. Moreover, B2B eCommerce platforms enable businesses to lower
down their marketing expenses, better management of the suppliers and
customers, and boosts sales engagement.
Additionally, rising proliferation of
smartphones and increasing internet penetration is further creating avenues for
market growth. Owing to the ease of doing business and enabling companies to
track their inventory, view orders and payments on mobile phones has resulted
in increased adoption of B2B eCommerce platforms. Furthermore, with increasing
competition, several businesses are opting for online business models to gain a
competitive edge in the market.
The market is characterized by intense
competition among the major players operating in the B2B e-commerce market.
These players are focusing on entering mergers and acquisitions as part of
their growth strategy to hold a competitive position in the market. Also, the
players operating in the market are developing unprecedented changes to their
online business models to provide better customer experience for the buyers and
suppliers. For instance, in March 2019, Flipkart Pvt. Ltd. launched its
internal funds of USD 60 million to USD 100 million to invest from early stage
to seed innovations related to the e-commerce industry. Moreover,
"E-commerce into the rural comprehensive demonstration project" is
helping China to carry out e-commerce application demonstrations across eight
provinces in the country.
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B2B E-Commerce Market Report Highlights
- The
intermediary-oriented deployment type segment held the largest market
share in 2019, attributed to rising inclination of buyers and sellers
toward this type of deployment model
- The
supplier-oriented deployment type segment is projected to witness substantial
growth over the forecast period owing to presence of number of suppliers
on a common platform
- The
consumer electronics segment accounted for a market share exceeding 18.0%
in 2019 owing to rising demand of electronics product demand among end-use
consumers and easy availability of products owing to online platforms
- Asia
Pacific held the largest revenue share exceeding 65.0% in 2019 and is
anticipated to expand at a CAGR of over 18% during the forecast period,
attributed owing to the growing internet penetration and trend of online
business platforms
- The major
players are focused on providing an enhanced user experience as part of
their growth strategy
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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