Business To Business (B2B) E-Commerce Market Size to grow by USD 11158.3 billion between 2024-2028
The Business To Business (B2B) E-Commerce Market is segmented by Application (Home and kitchen, Beauty and personal care, Consumer electronics, and Clothing and others), Business Segment (Small and medium enterprises and Large enterprises), and Geography (APAC, North America, Europe, South America, and Middle East and Africa). As per the Global Forecast research report 2024-2028 published by Technavio, the market size is estimated to grow by USD 11158.3 billion, at a CAGR of 15.2% during the forecast period. There are several companies that are contributing to the market as per this report. Increase in strategic collaboration among vendors in B2B E-commerce .
By Application, the Home and kitchen segment is projected to dominate the market size in 2024
The home and kitchen segment, encompassing furniture, home decor, kitchen appliances, and other household items, has experienced remarkable growth in recent years. Factors such as expanded internet access, the surge of mobile commerce, and the transition to online shopping have significantly contributed to this expansion. A key catalyst for this growth is the increasing adoption of Business-to-Business (B2B) e-commerce platforms by Small and Medium-sized Enterprises (SMEs). These platforms enable SMEs to broaden their customer reach and enhance business operations. Moreover, the platforms' functionality empowers buyers with the ability to compare prices, features, and product reviews, streamlining the purchasing decision-making process.
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By Business Segment, Small and medium enterprises segment is expected to hold the largest market size for the year 2024
Small and medium enterprises (SMEs) have identified the significant opportunities presented by the Business-to-Business (B2B) e-commerce market. SMEs are a vital component of economic growth and development, contributing substantially to employment and Gross Domestic Product (GDP) in numerous economies. One of the primary advantages of B2B e-commerce is the capacity to extend reach to a global customer base. SMEs can establish an online presence and promote their offerings to a worldwide audience, thereby unlocking new markets and expanding their clientele. This growth can result in enhanced sales and revenue, enabling SMEs to expand and scale their operations.
Why is APAC forecasted to hold the largest regional market size in 2024?
In the corporate sphere, Business-to-Business (B2B) E-Commerce has emerged as a significant driver of growth and efficiency. This digital marketplace facilitates streamlined transactions between businesses, enabling them to connect, negotiate, and transact seamlessly. By leveraging advanced technologies like AI, machine learning, and big data analytics, B2B e-commerce platforms optimize supply chains, enhance customer experiences, and foster innovation. These platforms are revolutionizing industries, from manufacturing and retail to finance and healthcare, by providing real-time market insights, customized solutions, and global reach.
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Research Analysis Overview
The Business-to-Business (B2B) e-commerce market is witnessing significant growth, with players like Kompass and DIYTrade leading the charge. This market caters to the needs of customers, including retailers, wholesalers, sole traders, and distributors, who require bulk purchasing and efficient transportation and infrastructure facilities. Kompass, for instance, offers a comprehensive business database that enables B2B buyers to find and connect with relevant suppliers, enhancing the level of trust and streamlining the purchasing process. DIYTrade, on the other hand, provides a technology platform for B2B sales, enabling businesses to sell finished products to a broad audience of buyers. The segmentwise share of the Greek ecommerce market in B2B sales is expected to grow, with investments in relevant technology and infrastructure being a key driver. Sole traders and individual suppliers can also benefit from partnering with ecommerce platforms to expand their reach and increase sales volume. Moreover, the use of technology platforms in B2B e-commerce enables businesses to advertise their products to a targeted audience, increasing the chances of closing deals. The role of transportation and logistics in B2B e-commerce is also crucial, with the need for efficient and reliable delivery being a key consideration for buyers. Overall, the scalability of ecommerce platforms makes B2B e-commerce an attractive proposition for businesses looking to expand their operations and reach new customers.
Market Research Overview
The global B2B broadline retail market encompasses the earnings generated by enterprises offering retail services encompassing discount merchandise, department stores, and online retailers and marketplaces dealing in consumer discretionary merchandise. According to Technavio's assessment, the global broadline retail market size is determined by the income generated by Internet retailing service providers, third-party online retail platform providers, door-to-door retailing service providers, department stores, and other general merchandise companies, including those facilitating online marketplaces for consumer goods and services. The expansion of the global broadline retail market will be fueled by the following factors: the expanding adoption of sophisticated mobile devices and substantial Internet penetration. These advancements in mobile technology and Internet connectivity empower consumers to access on-demand products and services online. - The Business To Business (B2B) E-Commerce Market is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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