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Outlook on the B2B E-Commerce Global Market to 2025 - Virtual Cards and Instant Payments Are on a Rise for B2B Payments

·8-min read

Dublin, Sept. 08, 2021 (GLOBE NEWSWIRE) -- The "Global B2B E-Commerce Market and Trends 2021 Post COVID-19" report has been added to ResearchAndMarkets.com's offering.

This report provides an insightful overview of the business-to-business E-Commerce industry amid the health crisis, including the recent developments in sales channels, B2B payments, and market players activities. The publication discloses that despite the B2B market being more resistant to changes than the B2C, COVID-19 accelerated the move to digitalization among the market players.

Global B2B market shifts towards digital sales amid COVID-19

Following the onset of the COVID-19 pandemic, the B2B industry was exogenously prompted to adopt digital channels, resulting in an increase of B2B E-Commerce sales in 2020, as compared to 2019. Furthermore, despite the still persistent movement restrictions and border closures in 2021, B2B cross-border payments were forecasted to increase by 14% year-on-year in 2021. Moreover, by 2023, moving to E-Commerce appeared to be the top investment priority for the majority of B2B organizations. Nevertheless, the transition to digital sales is a long and complicated process, especially for the B2B industry. As such, inverting in omnichannel was seen as an important move by 2023 for over eight in ten B2B leaders across the globe, according to a recent survey cited in the report.

B2B buyers expect more virtual sales, personalized content and alternative payment methods

Despite this upward trend, shifting towards online comes with certain challenges for the B2B industry. With that, "Personalizing the customer experience" was stated as the top obstacle for these enterprises. Nevertheless, this was also something that eight in ten of the companies planned to deliver to their clients in 2021. Furthermore, with the onset of the pandemic, B2B firms reduced human interaction in the whole sales chain, and this seem to be exactly what their customers wanted: around 70% of B2B buyers preferred remote interactions or even digital self-services both in 2020 and 2021. Among other trends, virtual cards and instant payments are on a rise for B2B payments; niche marketplaces are gaining popularity and challenging the established players such as Amazon Business and Alibaba; and virtual sales interactions together with online self-services are being considered by B2B market players to expand their market chares, as detailed in this market report.

Report Coverage

  • This report covers the global B2B E-Commerce market. It includes global data and international comparisons related to B2B E-Commerce development and trends, along with region- and country-specific market information. A broad definition of B2B E-Commerce used by some sources cited in this report might include both web-based and other electronic sales (such as EDI-type sales).

  • In addition to the global data, major global regions in worldwide B2B E-Commerce were covered in the report, including Asia-Pacific, Europe, North America, Latin America, the Middle East and Africa. Data availability varied by region and country.

Report Structure

  • The report opens with a global chapter. It includes information on the global B2B E-Commerce sales development and projections, top market trends and factors most important in B2B E-Commerce. The major market developments were also summarized on two text charts included in the global chapter.

  • The rest of the report is divided by regions, with each regional section containing county chapters and/or regional information, where available. The regions and countries are ranked by total E-Commerce sales volume or related criteria, such as the share of companies selling and/or purchasing online.

  • Depending on data availability, the following types of information were included: B2B E-Commerce sales, share of companies engaged in B2B E-Commerce, factors most important to B2B buyers and sellers. Not all types of data mentioned were included for each section due to varying information availability.

  • Furthermore, each regional chapter includes an overview of some of the B2B E-Commerce marketplaces and classified portals in the respective region.

Key Topics Covered:

1. Management Summary

2. Global Overview

  • B2B E-Commerce Market Overview, June 2021

  • Top 8 B2B E-Commerce Market Trends 2021, June 2021

  • Overview of the Risks and Challenges for B2B E-Commerce Players, June 2021

  • B2B Digital Sales, in USD trillion, 2019 & 2020

  • B2B E-Commerce Sales, in USD trillion, 2018-2020e

  • Share of E-Commerce Sales, in % of Total B2B Sales, February 2021

  • Share of Digital Channels in B2B Sales Interactions Between Suppliers and Buyers, in % of Total, 2025f

  • Investment Priorities of B2B Organizations by 2023, in % of Commerce Leaders, August 2020

  • Share B2B Organizations that Earn the Majority of their Revenue from E-Commerce, by Industry, in %, August 2020

  • Share B2B Organizations that See Investing in B2B E-Commerce as a Priority by 2023, by Industry, in %, August 2020

  • Share of B2B Leaders who Consider Customer Experience as an Important Factor in the Brand's Online Visibility and Adoption, in %, November 2020

  • Share of B2B Leaders who Plan to deliver Personalized Content to Their Customers in 2021, in %, November 2020

  • Top Challenges That B2B Business Face Regarding Online Sales, in % of B2B Leaders, November 2020

  • Top New Website Features/Functionality That B2B E-Commerce Companies Plan to Implement in 2021, in % of B2B Leaders, November 2020

  • Share of B2B Buyers Who Prefer Remote Human Interactions or Digital Self-Services, in %, February 2021

  • Ways of Interacting with Suppliers' Sales Representatives, by Stages of Interaction, in % of Companies' Representatives, August 2020 & February 2021

  • Market Sales Models Used by B2B Companies, incl. Videoconference, Online Chat, and Traditional/In-Person, by Pre- and Post-COVID-19, in %, November 2020

  • Share of B2B Businesses Who Will Transit from Experience- and Institution-Based Selling to Data-Driven Selling, in % of Total, 2025f

  • Share of B2B Buyers Who Prefer Virtual Sales Interactions, in %, 2020 & 2021

  • Share of B2B Sellers Who See Virtual Interactions as an Effective Mean of Sales, in %, 2020 & 2021

  • Improvement in Win Rate from Virtual Selling Expected, in % of Executives, and in % of Front-Liners, and Actual Reported Win Rate Improvement from Virtual Selling, in %, 2021

  • Improvement in Revenue from Virtual Selling Expected, in % of Executives, and in % of Front-Liners, and Actual Reported Revenue Improvement from Virtual Selling, in %, 2021

  • Share of B2B Leaders who Consider Providing an Omnichannel Experience as the Top Priority by 2023, in %, November 2020

  • Attitude of B2B Companies Representatives Towards Effectiveness of Omnichannel Sales Model in Reaching Serving Existing Customers, in %, April 9, April 28, August 11, 2020 & February 25, 2021

  • Attitude of B2B Companies Representatives Towards Effectiveness of Omnichannel Sales Model in Acquiring New Customers, in %, August 11, 2020 & February 25, 2021

  • Attitude of B2B Companies Representatives Towards Effectiveness of Omnichannel Sales Model in Reaching Serving Existing Customers, by Countries, in %, February 2021

  • B2B E-Commerce Marketplaces Trends, June 2021

  • Share of B2B Marketplace Sales, in % of Total B2B E-Commerce Sales, 2020e

  • Breakdown of B2B Buying Done via Marketplaces, in % of B2B Buyers, August 2020

  • Breakdown of Purchasing Frequency on B2B Marketplaces Compared to pre-COVID-19, in % of B2B Buyers, July 2020

  • Change in Spending on B2B Marketplaces Compared to Before COVID-19, in % of B2B Buyers, July 2020

  • Breakdown of B2B Buying Done with Amazon Business, in % of B2B Buyers, August 2020

  • B2B Vertical Marketplaces GMV, 2018 & 2019, and Third-Party B2B Marketplaces GMV, in USD billion, 2018 - 2020e

  • Amazon Business: B2B E-Commerce Marketplace Profile, January 2020

  • Alibaba: B2B E-Commerce Marketplace Profile, January 2020

  • B2B Payment Trends for 2021, June 2021

  • Total Value of B2B Cross-Border Payments, in USD trillion, 2020e & 2022f

  • Share of Instant Payments in Value of Total B2B Transactions, in %, 2020e

  • Share of Instant Payments, by Volume and Value, in % of Total B2B Transactions, 2022f

  • Share of Instant Payments, in % of Total B2B and Consumer Digital Money Transfer and Banking Payments Value, 2025f

  • Share of B2B Payments, in % of Total Instant Payments Value, 2025f

  • Top Payment Methods Offered by B2B E-Commerce Businesses, in % of B2B Leaders, November 2020

  • Top Payment Methods Available, by B2C and B2B, in % of Payment Decision-Makers, 2020

  • B2B Electronic Payments, in % of Total Payments, 2019 & 2020

  • Top Payment Investment Priorities in the Next 12 Months, in % of B2B Leaders, July 2020

  • Companies Fintech and Bank Strategies for B2B Payments, in % of B2B Leaders, 2019 & 2020

  • Top Factors to Impact B2B Companies' Decision to Use Fintech Payment Solutions, by Business Size, in % of B2B Leaders, July 2020

  • Top B2B Payments Obstacles, by Business Size, in % of B2B Leaders, July 2020

  • Likelihood of Organizations Converting Majority of their B2B Payment Made to Suppliers from Checks to Electronic/Digital Payments, in % of Corporate Practitioners, 2020

  • Barriers on Increasing Use of Electronic Payments for B2B Companies, in % of Corporate Practitioners, 2020

  • Payment Fraud Attempts after COVID-19 Compared to 2019, in % of Corporate Practitioners, 2020

  • Overview of Virtual Cards Usage in B2B Transactions, incl. B2B Virtual Cards, in % of Total Virtual Cards Transaction Value, 2025f

3. North America

4. Europe

5. Asia-Pacific

6. Latin America

7. Middle East and Africa

For more information about this report visit https://www.researchandmarkets.com/r/a0png9

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