Business-To-Business (B2B) E-Commerce Market to Reach Valuation of 18.97 USD Trillion by 2028; Changing Preferences of Consumers Coupled with COVID Pandemic is Driving the Market”

In terms of revenue, the Global Business-To-Business (B2B) E-Commerce Market is expected to reach 18.97 USD Trillion by 2028, growing at a CAGR of 18.1% from 2022 to 2028. COVID-19 brought a trend in the preferences of consumers for online shopping and created growth avenues. A rise in the number of orders, supply chain disruptions, consumer behavior changes, and closure of physical shops has impacted the business outlook in the field of B2B e-commerce. While sales in the retail sector dipped in 2020, sales on e-commerce platforms witnessed a surge. Numerous B2B businesses are focused now on taking their customer online.

Key Findings:

• The intermediary segment is anticipated to hold a significant share for Business-To-Business (B2B) E-Commerce Market. The deployment model helps the seller to minimize costs in website hosting, customer support, and logistics. Whereas, the intermediary model is a blessing for businesses in scaling and will play an important role in favoring the segment growth in the Business-To-Business (B2B) E-Commerce Market.
• The home & Kitchen segment is anticipated to hold a significant share for Business-To-Business (B2B) E-Commerce Market. The demand for appliances that are small and other kitchen items gained traction in the year 2020, as people were spending more time at their homes.
• Asia Pacific is the largest regional segment. A rise in B2B vendors number paved for the growth of e-commerce in the region. Pandemic forced various businesses to shift online while creating opportunities for B2B e-commerce growth. Players in the region are now taking efforts to build a technology that will support their business, operational, and marketing strategies in the long run.

Some of the key players in the Business-To-Business (B2B) E-Commerce Market include, Amazon.com, Inc., eBay Inc., Flipkart.com, IndiaMARTInterMESH Ltd., ChinaAseanTrade.com, KOMPASS, KellySearch.com, Flexfire LEDs, eworldtrade.com, DIYTrade.com..

A significant B2B sales portion in North America embedded run-to-mill buying which involves simple transactions with consumers requiring the purchase being a mere recorder or no value-added services. However, the complications of services or products offered by the vendors in B2B acts as a substantial barrier. As technology proliferates, the Business-To-Business (B2B) E-Commerce Market will witness a rise in the coming years. Furthermore, the ongoing pandemic situation has forced various businesses to shift online to serve their customers across the globe. For instance, Fast parts, distributor of agriculture machinery parts trying to open a web store to cater the customer requirements.

North America is expected to emerge as potential market for Business-To-Business (B2B) E-Commerce Market. The incidences of giants like eBay Inc., Amazon.com Inc., among others have established strong sales channels in the regions. However, COVID has forced numerous other businesses to move online to capture and cater to a large group.