Major players in the business-to-business electronic market are Amazon, Alibaba, Rakuten, Flipkart. com, IndiaMART, InterMESH Ltd. , and eBay Inc. The global business to business electronic markets market is expected to grow from $30.
New York, June 01, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Business-to-Business Electronic Global Market Report 2022" - https://www.reportlinker.com/p06282513/?utm_source=GNW
26 billion in 2021 to $32.09 billion in 2022 at a compound annual growth rate (CAGR) of 6%. The market is expected to grow to $38.73 billion in 2026 at a compound annual growth rate (CAGR) of 4.8%.
The business-to-business electronic market consists of sales of services of business-to-business electronic markets by entities (organizations, sole traders, and partnerships) that provide services in bringing together buyers and sellers of goods using the Internet or other electronic means and generally receiving a commission or fee for the service. Business-to-business electronic markets for durable and nondurable goods are included in this industry.
The main deployment types of business-to-business electronics are supplier-oriented, buyer-oriented, and intermediary-oriented.A supplier-oriented electronic is one in which a group of suppliers creates an online marketplace to create an efficient channel for selling to a large number of enterprises.
The application areas of business-to-business electronics are home and kitchen, consumer electronics, healthcare, clothing, beauty, and personal care, sports apparel, automotive, and other applications that are used in Network as a Service (NAAS), Data as a Service (DAAS), Storage as a Service (STAAS) and Back-end as a Service (BAAS).
Asia Pacific was the largest region in the business-to-business electronic market in 2021.North America was the second-largest region in the business-to-business electronic market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The surge in the inclination of companies towards electronic or e-commerce platforms to mark their online presence is expected to contribute to the growth of business-to-business electronics.Business-to-business electronic markets help companies to reach a large consumer base, reduce cost, and improve efficiency by automating manual processes.
B2B electronic markets increase opportunities for manufacturers to collaborate with suppliers and distributors. For instance, in October 2020, The Dentists Supply Co. and Henry Schein Inc., a USA-based dental products distributor together relaunched TDSC.com as a healthcare supply source for members of all 50 state dental associations.
Increasing cyberattacks on business-to-business e-commerce websites are expected to hinder the business-to-business electronic market’s growth in the coming years.Cyber-attacks harm the company’s reputation along with financial loss.
In November 2019, the B2B e-commerce giant Alibaba had 2.2 billion cyberattacks in a single day. The cyberattack decreases the trust of customers and sellers and those who opt-out for their services and the business are also bound to pay a ransom in the form of money, e-currency, and data. This setback act as a major restraint on the growth of the market.
Manufacturers are establishing their B2B marketplaces for selling their products online and fulfilling the customer requirements for niche products, which is likely to be a key trend in business-to-business electronics.For instance, in February 2020, Reliance steel has launched a B2B marketplace fast metals for the supply of metal products.
In January 2019, Honeywell, a manufacturer of parts for airplanes and helicopters had launched a B2B marketplace for selling aerospace parts.
In May 2019, Shopify Inc., a Canada-based e-commerce company has acquired Handshake for $100 million. Through this acquisition, Shopify Inc. expands its B2B e-commerce platforms. Moreover, Handshake added new products and services to Shopify Inc.’s existing portfolio. Handshake is a USA-based B2B e-commerce company that provides a platform for the manufacturers and distributors close to its customers.
The countries covered in the business-to-business electronic market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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