DUBLIN, Dec. 6, 2021 /PRNewswire/ — The “Global Business-to-Business E-commerce Market Size, Share & Trends Analysis Report by Deployment Model (Intermediary-oriented, Supplier-oriented), by Application, by Region, and Segment Forecasts, 2021-2028” report has been added to ResearchAndMarkets.com’s offering.
The global business-to-business e-commerce market size is estimated to reach USD 25.65 trillion by 2028, expanding at a CAGR of 18.7% from 2021 to 2028.
In the first half of 2020, the COVID-19 pandemic impacted several businesses worldwide. However, the lockdown brought a new change with consumers opting for online purchases, paving way for the growth of e-commerce, globally.
During this situation several B2B vendors aimed at digital transformation and meeting customer requirements by selling goods and services through online channels. Therefore, the B2B e-commerce market flourished during the pandemic.
The COVID-19 outbreak impacted several businesses negatively due to limited physical contact, particularly B2B vendors. In light of the pandemic, vendors were forced to move online to ensure business continuity.
A considerable portion of B2B vendors from developed economies aimed at encouraging customers to opt for online shopping. This was achieved by investing in improved website designs offering an immersive shopping experience with easy payment options.
Therefore, the year 2020 witnessed an uptick in the e-commerce business, a trend expected to continue over the forecast period.
Business-to-Business E-commerce Market Report Highlights
- The global market witnessed improved sales amid the lockdown as consumer buying preferences shifted to online channels of distribution. This change in consumer buying behavior was largely influenced by the virus outbreak that limited physical contact and promoted social distancing
- The intermediary-oriented B2B model registered a strong CAGR exceeding 18% from 2021 to 2028. Lower costs associated with logistics and customer support is expected to favor segment growth over the forecast period
- The supplier-oriented sales model was also popular in 2020 as it helps customers get access to information regarding suppliers from unfamiliar regions or countries. The segment accounted for more than 30% of the overall share in 2020
- Consumer electronics were the most popular choice among customers that favored the proliferation of the market for B2B e-commerce in 2020. The segment over the forecast period is estimated to register a CAGR exceeding 16% from 2021 to 2028
- The Asia Pacific region captured over 60% of the market share in 2020. The proliferation of digital medium for conducting businesses contributed to the segment growth in 2020
- The key industry participants worldwide include eBay Inc.; Amazon.com, Inc.; DIYTrade.com.; ChinaAseanTrade.com; Flipkart.com; IndiaMART InterMESH Ltd.; and KellySearch.com. Improving user experience and aggregating several sellers from different end-use verticals offering a plethora of product options is a key area of focus for several vendors
- Amazon.com, Inc.
- eBay Inc.
- Flexfire LEDs
- InterMESH Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/vmki6y
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SOURCE Research and Markets