B2B E-Commerce Market Analysis and Global Forecast 2023-2033

B2B E-Commerce Market Overview

The B2B E-Commerce Market Size is expected to reach USD 35.33 Billion by 2034. The B2B E-Commerce Market industry size accounted for USD 18.45 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 19.24% from 2021 to 2034. The B2B (Business-to-Business) e-Commerce market refers to the online platform where transactions and interactions occur between businesses, rather than between businesses and individual consumers. This market involves companies buying and selling goods, services, or information to other businesses through digital channels.

The B2B e-Commerce market aims to streamline business transactions, reduce costs, and improve efficiency through digital channels. The B2B e-commerce market has experienced significant growth in recent years, driven by factors such as increased internet penetration, technological advancements, and changing consumer behavior. As businesses continue to adopt digital technologies, the B2B e-commerce market is expected to play an increasingly important role in the global economy.

Global B2B E-Commerce Market Synopsis

B2B E-Commerce Market Dynamics

The major factors that have impacted the growth of B2B E-Commerce Market are as follows:

Drivers:

Ø  Advanced Analytics and Data Insights

B2B e-Commerce platforms provide valuable data and analytics, allowing businesses to make informed decisions, optimize their strategies, and better understand market trends. The increasing use of mobile devices and applications enables businesses to conduct transactions and manage operations on-the-go, contributing to the growth of mobile-optimized B2B e-Commerce platforms. Modern buyers prefer the convenience of online purchasing and are accustomed to the user-friendly experiences offered by B2C e-Commerce, driving demand for similar experiences in the B2B space.

Restraint:

• Perception of Data Security and Privacy Concerns

Ensuring the security and privacy of sensitive business information and transaction data is crucial. Data breaches and cyber threats can pose significant risks and deter businesses from adopting e-Commerce solutions. The initial investment required for setting up and maintaining B2B e-Commerce platforms, including technology, infrastructure, and training, can be substantial, which may be a barrier for smaller businesses.

Opportunity

⮚      Integration with Advanced Technologies

Leveraging technologies such as artificial intelligence (AI), machine learning, and blockchain can enhance B2B e-Commerce platforms by improving automation, personalization, and security, creating new opportunities for innovation. Utilizing advanced analytics and big data can offer businesses valuable insights into customer behaviour, market trends, and operational efficiency, enabling more informed decision-making and targeted strategies. Cloud-based e-Commerce platforms offer scalability, flexibility, and cost-efficiency, enabling businesses to easily adapt to changing market conditions and customer demands.

B2B E-Commerce Market Segment Overview

By Deployment Type

Based on Deployment Type, the market is segmented based on Supplier-oriented, Buyer-oriented and Intermediary-oriented. The Intermediary-oriented segment dominant the market. The Intermediary-oriented B2B E-commerce involves platforms that act as intermediaries or middlemen, connecting multiple buyers and suppliers. These platforms facilitate transactions, negotiations, and collaboration among businesses. The trend in intermediary-oriented deployment includes the rise of B2B marketplaces that bring together a diverse range of suppliers and buyers on a centralized platform, fostering increased visibility, competition, and streamlined transactions.

By Application

Based on Application, the market segment has been divided into Home & Kitchen, Consumer Electronics, Industrial & Science, Healthcare, Automotive and Others.  In the business-to-business e-commerce market, home & kitchen applications witness a surge in demand. Businesses within this sector leverage online platforms for bulk procurement of kitchenware, appliances, and home essentials. The trend leans towards personalized and sustainable products, and B2B platforms cater to these preferences, offering a diverse range of items. The convenience of digital transactions and the ability to connect with a myriad of suppliers contribute to the flourishing trend of home & kitchen B2B e-commerce.

Global B2B E-Commerce Market Regional Analysis

Based on region, the global B2B E-Commerce Market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is projected to dominate the use of the B2B E-Commerce Market followed by the Asia-Pacific and Europe regions.

B2B E-Commerce North America Market

North America holds a dominant position in the B2B E-Commerce Market. The B2B e-Commerce market in North America is highly developed, with a mature infrastructure and widespread adoption of digital technologies. Companies in this region often lead in integrating advanced technologies such as AI, machine learning, and cloud computing into their e-Commerce platforms and many businesses in the region have already adopted digital channels for their B2B transactions.

B2B E-Commerce Asia-Pacific Market

The Asia-Pacific region has indeed emerged as the fastest-growing market for the B2B E-Commerce Market industry. Countries like China and India are key players in the region, with large markets and growing B2B e-Commerce activities. However, there are varying levels of infrastructure and digital adoption across different countries. China is the largest and most dynamic B2B e-commerce market in the region, with a vast number of online marketplaces and a large base of active buyers and sellers. The Asia-Pacific region is experiencing rapid growth in B2B e-Commerce, driven by increasing internet penetration, digital adoption, and economic development.

Competitive Landscape

The global B2B E-Commerce Market is highly competitive, with numerous players offering a wide range of software solutions. The competitive landscape is characterized by the presence of established companies, as well as emerging startups and niche players. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as product launches, and strategic alliances.

Prominent Players:

• com
• eBay Inc
• com
• IndiaMART InterMESH Ltd.
• com
• com
• KOMPASS
• com
• Alibaba Group Holding Ltd.
• com

Key Development

In March 2023, Walmart Commerce Technologies and Salesforce collaborated to empower retailers utilizing Salesforce Commerce Cloud. This partnership enables retailers to integrate Walmart’s store fulfillment technologies and local delivery services seamlessly, providing customers with convenient pickup and delivery options, enhancing the overall shopping experience on the Salesforce Commerce Cloud platform.

In Feb 2021, Newegg Commerce, Inc. collaborated with Affirm, Inc., a payment network, to offer customers on Newegg.com flexible payment options like pay-over-time. This partnership enables customers to make purchases with Affirm, dividing payments into manageable installments without hidden or late fees, enhancing the affordability and convenience of transactions on the platform.

Scope of the Report

Global B2B E-Commerce Market, by Deployment Type

• Supplier-oriented
• Buyer-oriented
• Intermediary-oriented.

Global B2B E-Commerce Market, by Application

• Home & Kitchen
• Consumer Electronics
• Industrial & Science
• Healthcare
• Automotive
• Others

Global B2B E-Commerce Market, by Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Benelux
  • Nordic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • Indonesia
  • Austalia
  • Malaysia
  • India
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of Middle East & Africa

 

Parameters	Indicators
Market Size	2033: $35.33 Billion
CAGR	19.24% CAGR (2023-2033)
Base year	2022
Forecast Period	2023-2033
Historical Data	2021
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Key Segmentations	Deployment Type, Application
Geographies Covered	North America, Europe, Asia-Pacific, Latin America, Middle East, Africa
Key Vendors	Amazon.com, eBay Inc, Flipkart.com, IndiaMART InterMESH Ltd., ChinaAseanTrade.com, DIYTrade.com, KOMPASS, KellySearch.com, Alibaba Group Holding Ltd. and Eworldtrade.com
Key Market Opportunities	• Integration with Advanced Technologies • Enhanced Data Analytics
Key Market Drivers	• Advanced Analytics and Data Insights • Mobile Accessibility

 

REPORT CONTENT BRIEF:

• High-level analysis of the current and future B2B E-Commerce Market trends and opportunities
• Detailed analysis of current market drivers, restraining factors, and opportunities in the future
• B2B E-Commerce Market historical market size for the year 2021, and forecast from 2023 to 2033
• B2B E-Commerce Market share analysis at each product level
• Competitor analysis with detailed insight into its product segment, Government & Defense strength, and strategies adopted.
• Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
• To identify and understand the various factors involved in the global B2B E-Commerce Market affected by the pandemic
• To provide a detailed insight into the major companies operating in the market. The profiling will include the Government & Defense health of the company’s past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.