Global B2B E-Commerce Market Drivers and Opportunities | Expected to reach $25.59 trillion by 2028
Global B2B E-Commerce Market Report Indicates Key Impacting Factors, Trends, Size, Shares and Increase in Demand in Particular Regions
— Sion Market Research
SUITE N202, NEW YORK, USA, Oct. 10, 2022 /EINPresswire.com/ — The global B2B e-commerce market was worth $6.57 trillion in 2020 and is expected to reach $25.59 trillion by 2028, growing at a CAGR of 18.74% from 2021 to 2028. This report provides dynamic analysis of the market, including market driving factors, market development strategies and restraints for the business. The research report covers market size, share, trends and growth analysis at global and regional level with key market players’ business strategies and their key methods. The report provides a detailed assessment of the market highlighting information on different aspects including drivers, opportunities, restraints, and threats. Some of the major players in the B2B e-commerce market are ChinaAseanTrade.com, Amazon Inc., eBay Inc., DIYTrade.com, eworldtrade.com, Flipkart.com, Flexfire LEDs, KellySearch.com KOMPASS and IndiaMART Intermesh Ltd. .among others. The major players are focusing on acquisitions and mergers as a growth strategy to hold a competitive advantage in the market. Market players are also making unprecedented changes to their online business models to provide a better customer experience for buyers and suppliers.
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The presence of major players in the region supports North America’s dominance
North America is expected to be the largest B2B e-commerce market. It accounted for more than 28% market share for B2B e-commerce in 2020. The growth in this region is mainly supported by the advantages of high revenue, world-class devices and proper infrastructure. Also, major players like Amazon.com, Inc., eBay.com, Wal-Mart and others are influencing the market.
Asia-Pacific is the fastest growing market for the B2B e-commerce market over the forecast period. This is due to the growing number of customers and mobile phone users in this region. Tapping into untapped markets like rural sectors in developing economies like India is also fueling the market. Additionally, countries like China, Japan, and South Korea are among the top 10 exporters of goods and account for a large portion of global e-commerce sales.
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The increasing proliferation of smartphones and increasing internet penetration are expected to drive growth.
Moreover, the increasing proliferation of smartphones and rising internet penetration are creating more opportunities for market growth. Due to the ease of doing business and the ability for companies to track their inventory and view orders and payments on mobile phones, the adoption of B2B e-commerce platforms has increased. Apart from this, the rapid exploitation of the untapped rural market creates new opportunities. Moreover, the growing movement of buyer preference towards the online market and the presence of a large number of competitors and the emergence of omnichannel shopping methods are one of the main reasons driving the market.
The rapid changes in the way of doing business along with the current trend of digitalization are expected to drive the growth of the B2B e-commerce market over the projected period. Many businesses across all regions are opting for online platforms to pursue their business activities to reach their customers. Thus, the change in business trend and shift from conventional platforms to online platforms is driving the growth of the market. B2B e-commerce platform players such as Alibaba have recently added digital features such as freight functionality and trade finance to enhance their customers’ digital experience.
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The global B2B e-commerce market is segmented as follows:
Small and medium-sized enterprise
Application for home and kitchen
industrial and scientific
Beauty and personal care
Books and stationery
The rest of Europe
South East Asia
Rest of Asia-Pacific
Rest of Latin America
Middle East and Africa
Rest of the Middle East and Africa
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