The global B2B e-commerce market is projected to grow at a significant CAGR during the forecast period. The increasing E-commerce industry is one of the major factors to augment the global B2B e-commerce industry during the forecast period. Introduction of prominent e-commerce companies across the globe such as Alibaba, Amazon is also expected to provide a substantial growth rate to the market. The primary factor that is augmenting the growth of the market globally is the ease of purchasing and convenience offered by the platform.
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E-commerce promises 24/7 convenience, 365 days a year, with no downtime for public holidays, closing times, and bad weather conditions. Customers can shop as and when they like, from where they want, be it the comfort of their bed. Ecommerce makes purchasing quicker and easier, without the hassle of crowds, traffic, and awkward social interactions. Thus, the market across the globe is directly affected by the rising adoption of e-commerce especially in emerging economies such as China and India. Further, due to the universal trends of the online ecosystems and rapidly evolving buyers’ nature, the global B2B e-commerce market is experiencing growth during the forecast period.
The other major factors of the market include the increased penetration of the internet and smartphones, that aids the B2B e-commerce industry buyers to keep up with the ongoing trends in the market and regularly being updated. The integration of cloud is another key influencing factor for the market growth, as it offers various private as well as public cloud computing options to choose.
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However, data security concerns and increasing cyber-attacks and internet frauds act as a growth challenging factors to the industry. In addition, several governments regulatory associated with the international payments majorly acts as growth hampering factors for the B2B e-commerce market. Whereas, key technologies introduced in the market including CRM (Customer Relationship Management), ERP (Enterprise Resource Planning), and EDI (Electronic Data Interchange) are likely to provide opportunities to the market growth during the forecast period.
Global B2B E-commerce Market – Segmentation
By Type
- Buyer Oriented E-commerce
- Supplier Oriented E-commerce
- Intermediary Oriented E-commerce
By Verticals
- Fashion and Apparel
- Automotive
- Food and Beverages
- Healthcare
- Consumer Electronics
- Others
