Business-To-Business E-Commerce Market to Garner Proceeds worth USD 25.59 Trillion by 2028 - Zion Market Research

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Aug 31, 2021, 07:30 ET

NEW YORK, Aug. 31, 2021 /PRNewswire/ -- Based on study of researchers at Zion Market Research, Business-To- Business E-Commerce market is slated to gain profit worth USD 25.59 trillion by 2028. It is predicted to register highest gains of about 18.74% during 2021 to 2018 and had earned revenue of nearly USD 6.57 trillion in 2020. Moreover, with rise in B2B e-commerce end-users in past few years, nearly 70% of firms are planning to introduce B2B e-commerce tool for effectively carrying out business activities online in coming years. This, in turn, is expected to generate new growth avenues for business-to-business e-commerce market within next couple of years.

Furthermore, rampant spread of COVID-19 pandemic has resulted in strict enforcement of social distancing norms with consumers preferring more of online transactions and less of face-to-face business deals. This has resulted in completion of more number of business transactions through virtual mode. Apparently, growing tilt of various businesses towards virtual mode of business transactions is expected to result in humungous expansion of Business-To-Business E-Commerce Market over years ahead. Reportedly, B2B clients are likely to continue their sales processes online as well as product ordering via e-commerce tool, thereby enlarging scope of business-to-business e-commerce industry during forecast timeline.

Furthermore, swiftly changing market scenario and adoption of minimum viable product approach is anticipated to help firms capture huge ROI and lay a strong foundation for business transformation in near future. This, in turn, is also likely to facilitate growth of Business-To-Business E-Commerce Market. In addition to this, during times of uncertainty, businesses need to create new patterns of thinking. They need to depart from their conventional mode of thinking in response to emerging situations such as pandemic and natural calamities. Moreover, it becomes necessary for firms to recover from tough situations and make use of learning through experience curve to flourish in new business environment through adoption of new methods of business transactions. This, in turn, will provide impetus to business-to-business e-commerce industry in a long run.

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Rising Smartphone Sales & 5G Network Penetration To Boost Market Size

Expansion of Business-To-Business E-Commerce market over forecasting years can be credited to increase in use of smartphone and iPhones globally. Apart from this, rise in internet bandwidth and increase in internet speed due to launching of 5G network facility will further elevate scope of business-to-business e-commerce market over years to come. With rapid globalization and urbanization, the use of internet has increased and reached nook & corner of globe with remote places also connected with internet due to improved networking facility. Additionally, availability of strong internet infrastructure and improved internet services at reasonable costs has resulted in massive growth of business-to-business e-commerce industry in recent years. Strict laws pertaining to online business transactions resulting in strong firewalls for internet is projected to increase business-to-business e-commerce transaction in upcoming years.

North America to Maintain Regional Market Dominance during 2021-2028

Business buyers in the countries such as Canada and the U.S. have become used to convenience of making online business transactions. Moreover, a growing preference for digital channels to fulfill procurement as well as business requirements is also witnessed among these business buyers. This has resulted in rapid rise in B2B e-commerce deals as compared to online retail sales in sub-continent, thereby driving growth of business-to-business e-commerce market in North America. Moreover, presence of reputed e-commerce firms such as Amazon, Inc, Flipkart, and E-bay in the U.S. will further drive growth of Business-to Business E-Commerce Market in North America. Apart from this, strategic moves adopted by these firms will contribute towards industry revenue in coming years. For the record, in July 2021, Amazon, Inc., a reputed e-Commerce firm based in the U.S., announced that is trying to expand its B2B E-commerce business activities across the globe. Reportedly, Amazon B2B referred as Amazon Business offers purchase service facility to registered firms for purchasing product supplies through Amazon website. Moreover, through B2B e-commerce tool of Amazon, Inc., small, medium, and large businesses can purchase and sell products to each other at discounted prices based on quantity of inventory ordered on the Amazon website.

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Apparently, large numbers of firms across the globe are adopting new business strategies for capturing huge chunk of market share along with retaining their position in global business-to-business e-commerce market. Additionally, these firms are also trying to gain competitive edge over their business rivals through expansion of B2B ecommerce activities in remote places. These firms majorly impact size of business-to business e-commerce market. Some of these giant players such as Amazon.com, Inc., Flipkart.com, eBay Inc., KOMPASS, IndiaMARTInterMESH Limited, and ChinaAseanTrade.com are displayed in our report.

This review is based on a report by Zion Market Research, titled, Business-to-Business E-commerce Market-by Type (Buyer Oriented E-commerce, Supplier Oriented E-commerce, and Intermediary Oriented E-commerce), by Size (Small & Medium Enterprise and Large Enterprise), by Applications (Home & Kitchen Application, Consumer Electronics, Industrial & Science, Healthcare, Clothing, Beauty & Personal Care, Sports Apparel, Books & Stationery, Automotive, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.

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The global Business-to-business e-Commerce market is segmented as follows:

By Type

Buyer oriented e-commerce
Supplier oriented e-commerce
Intermediary oriented e-commerce

By Size

Small & Medium enterprise
Large enterprise

By Application

Home & Kitchen
Consumer electronics
Industrial & science
Healthcare
Clothing
Beauty & personal care
Sports apparel
Books & stationery
Automotive
Others

By Region

North America

The U.S.
Canada

Europe

France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific

China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

GCC
South Africa
Rest of Middle East & Africa

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