The Global Business-to-Business E-commerce Market size is expected to reach $18,857. 3 billion by 2027, rising at a market growth of 16. 3% CAGR during the forecast period. Business to business (B2B) e-commerce portal is an important aspect of a business, which enables small & medium enterprises and large-scale enterprises to outreach remote areas and carry out their business across the world.
New York, Aug. 31, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Business-to-Business E-commerce Market By Application, By Deployment Type, By Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06131408/?utm_source=GNW
Such portals help in setting up new trading relationships among companies while supporting their prevailing relationships. In addition, B2B e-commerce platforms help companies to reduce their marketing cost, improve their management of the customers & suppliers, and enhance their sales engagement.
Moreover, the global business-to-business e-commerce market is witnessing a surge due to the increasing penetration of smartphones and the growing penetration of the internet. The convenience of doing business and allowing enterprises to monitor their stock, track orders, and payments on smartphones have led to the high adoption of B2B e-commerce platforms. Additionally, there are many enterprises which are shifting to online business models in order to achieve a competitive edge in the market due to the rising competition.
There is a significant change in the behavioral pattern of the customers during the lockdown in nations like the U.S, Italy, China, Spain, Germany, India, and Russia. Due to the restrictions on public gatherings and the temporary shutdown of all physical stores, online shopping has witnessed a huge spike. The imposition of social distancing as a norm to stop the spread of coronavirus has resulted in the high usage of the internet for social interactions and also shifted the consumers’ preference towards online and business-to-business (B2B) communications. This has positively affected the industry and various companies have recorded a massive surge in demand for products.
COVID 19 Impact
The Covid-19 pandemic has affected various industries across different business domain across the globe. Though, the lockdown resulted in shifting preference of customers for online purchases, which is fueling the growth of the e-commerce market around the world. In this scenario, numerous B2B vendors focused on digital transformation and fulfilling customer needs by selling goods & services via various online channels. Hence, the B2B e-commerce market would witness a surge during the pandemic.
The increasing number of orders, changing consumer behavior, and temporary shutdown of physical stores are estimated to bolster the growth of the B2B e-commerce market. Several companies are shifting towards online platforms in order to survive in the business domain during the pandemic. A notable portion of B2B companies from emerged nations are focusing on motivating customers to shift to online shopping. It is attained by allocating more funds on improving website designs than offers an enhanced shopping experience for the customers with easy payment options.
Based on Application, the market is segmented into Home & Kitchen, Consumer Electronics, Clothing & Sports Apparels, Industrial & Science, Beauty & Personal Care, Healthcare, Books & Stationary and Others. There is a growing demand for consumer electronics via online platforms during the pandemic. Plans before the pandemic including home renovations, travel, paused as consumers have focused on spending on durables & electronics that include laptops, ACs, and smartphones. The work from home culture has further resulted in increasing consumer’s investment in electronics, which supported the new work-from-home situation. Such factors boosted the demand for consumer electronics during the pandemic and in the coming years.
Deployment Type Outlook
Based on Deployment Type, the market is segmented into Intermediary-Oriented, Supplier-Oriented and Buyer-Oriented. Based on deployment type, the intermediary segment acquired the largest market share in 2020. Intermediaries refer to the companies, which control trade among the manufacturers and end-users. This deployment model allows the companies to decrease the overall costs in hosting a website, logistics, and customer support. The intermediary model has various benefits for scaling businesses and also plays a crucial role in supporting the growth of the intermediary segment.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific emerged as a leading region in the business-to-business e-commerce market with the highest market share in 2020. The rising number of B2B companies is contributing to the growing e-commerce growth in the region. This pandemic has motivated various companies to shift to online channels, which opens new growth avenues for the growth of B2B e-commerce. There are several companies in the region that are taking more efforts to develop technology, which supports their marketing, business, and operational strategies during the forecast period.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Alibaba Group Holdings Limited, Amazon.com, Inc., eBay, Inc., Walmart, Inc. (Flipkart), ChinaAseanTrade, DIYSite Group (DIYTrade.com), IndiaMART InterMESH Ltd. (Tradezeal Online), Flexfire LEDs, eWorldTrade.com (Reckon Media LLC), and Kompass International.
Recent strategies deployed in Business-to-Business E-commerce Market
Apr-2021: Flipkart entered into a partnership with Adani Group, India’s largest multinational infrastructure company. Under this partnership, Flipkart would work with Adani Logistics, a wholly-owned subsidiary of Adani Ports & Special Economic Zone, to reinforce Flipkart’s supply chain infrastructure and improve its capability to serve its swiftly increasing customer base.
Apr-2021: IndiaMART took over two companies, Shipway Technology and Truckhall. This acquisition aimed to strengthen IndiaMART’s technology offering in logistics management.
Mar-2021: Amazon acquired Perpule, a Secure, Scalable & Fully Customizable Enterprise eCommerce Platform. This acquisition aimed to accelerate Amazon’s viability in the kirana-tech space.
Mar-2021: eBay came into partnership with Kerala Ayurveda. This partnership aims to enable Kerala Ayurveda to make an exclusive showcase of its authentic Ayurvedic products on the online platform and also promote content & reviews by influencers, experts, and customers.
Dec-2020: Amazon signed a memorandum of understanding (MoU) with the Confederation of Indian Industry (CII). This MoU aimed to bring the advantages of e-commerce to micro small and medium enterprises (MSMEs) in 10 states all over India.
Sep-2020: Flipkart released Flipkart Wholesale, the digital business-to-business (B2B) marketplace of the Flipkart Group. This platform focuses on connecting local manufacturers with retailers and keeping the whole wholesale marketplace at their fingertips utilizing the technology. In addition, the platform is available for fashion retailers, specifically footwear & apparel, in Delhi, Gurugram, and Bengaluru.
Aug-2020: IndiaMART formed a partnership with Wildcraft, an outdoor gear brand. The partnership aimed to engage the services of its platform to target customers for its latest product line of Supermask & PPE kits. The firm entered into the Personal Protective Gear (PPG) category by introducing the re-usable respirators & PPE Kits during the COVID-19 pandemic.
Jun-2020: Alibaba introduced a set of new features in its Alibaba.com platform that connect global suppliers with buyers. One of the new product introductions is Online Trade Shows USA, which is an effort to make more digital experiences in business-to-business (B2B) commerce under which U.S.-based wholesalers & manufacturers can connect with new customers.
Scope of the Study
Market Segments covered in the Report:
• Home & Kitchen
• Consumer Electronics
• Clothing & Sports Apparels
• Industrial & Science
• Beauty & Personal Care
• Books & Stationary
By Deployment Type
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Alibaba Group Holdings Limited
• Amazon.com, Inc.
• eBay, Inc.
• Walmart, Inc. (Flipkart)
• DIYSite Group (DIYTrade.com)
• IndiaMART InterMESH Ltd. (Tradezeal Online)
• Flexfire LEDs
• eWorldTrade.com (Reckon Media LLC)
• Kompass International
• Exhaustive coverage
• Highest number of market tables and figures
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Read the full report: https://www.reportlinker.com/p06131408/?utm_source=GNW
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