Global B2B e-commerce market is estimated to grow at a significant CAGR of 15.3% during the forecast period (2024-2031). The market growth is driven by the expansion of the e-commerce industry, technological advances (EDI (Electronic Data Interchange), CRM (Customer Relationship Management), and ERP (Enterprise Resource Planning)) in the e-commerce industry, and the rising number of new players in e-commerce. Additionally, the e-commerce industry has been experiencing potential growth across the globe owing to rapid urbanization and internet penetration, contributing to the market growth. Further, the integration of the cloud provides opportunities for market growth.
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The global B2B e-commerce market is segmented by type (buyer-oriented e-commerce, supplier-oriented e-commerce, and intermediary-oriented e-commerce), by verticals (fashion and apparel, automotive, food and beverages, healthcare, consumer electronics, and others), and by geographies (North America, Europe, Asia-Pacific, and Rest of the World).
Market Dynamics
- The fashion and apparel vertical is expected to register significant growth in the market during the forecast period, attributed to the rising trends of online purchasing of fashion and apparel products. The growth of ready-to-wear retail and high-end design also presents significant opportunities for market growth.
- Additionally, the food and beverages segment is growing owing to the shifting trends of consumers towards online food channels to save travel time.
- North America’s e-commerce market has been rapidly growing owing to the development of technological infrastructure in major economies such as the US. Further, the B2B e-commerce market in North America is growing due to the integration of various companies across the globe. In addition, the increasing integration of machine learning technologies is ensuring operational efficiency, and a surge in cross-industry collaboration through B2B marketplaces, contributing to regional market growth.
- In addition, Asia-Pacific is estimated to hold a significant share of the market owing to the presence of major market players such as Alibaba and Amazon. Additionally, the flourishing digital economy in the region, coupled with rapid industrialization and expanding business landscape is boosting the adoption of B2B e-commerce platforms, contributing to the regional market growth.
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The major players in the global B2B e-commerce market include Alibaba Group Holding Ltd., Amazon.com Inc., Flipkart Pvt. Ltd., Focus Technology Co. Ltd., India MART, Netalogue Technologies Plc, and many others. The market players are contributing significantly to the market growth, by the adoption of various business strategies, such as collaborations, mergers and acquisitions, product portfolio diversification, and more.
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