Business-to-Business E-commerce Market 2030: What Will Be Changes In Investment Ratio With Opportunity Analysis??

Posted by Mrudula Anil Karmarkar on January 29th, 2024

San Francisco, 29 January 2024: The ReportBusiness-to-Business E-commerce Market Size, Share & Trends Analysis Report, By Deployment Type (Intermediary-oriented, Supplier-oriented), By Application, By Region, And Segment Forecasts, 2023 - 2030

The global business-to-business e-commerce market size is anticipated to reach USD 33,317.37 billion by 2030 expanding at a CAGR of 20.2%, according to a new study by Grand View Research Inc. Technologies enabling the adoption of B2B e-commerce platforms are favoring the market growth. For instance, the proliferation of 5G and smartphones worldwide is expected to be a key growth driver for the market. Moreover, the COVID-19 pandemic has resulted in an increased acceptance of B2B e-commerce among end-users. Companies across the globe are focused on adopting a mixed-channel strategy with an emphasis on online channels to drive revenue.

In addition to the demand generated for online e-commerce amidst the pandemic, proactive government support, such as tax waiver, improved transport infrastructure, and reforms supporting excise/customs duty, is also expected to support business to business e-commerce market growth. Moreover, various laws have been reinforced to protect data privacy for both consumers and businesses, such as the law drafted in California, U.S. Such initiatives are likely to improve online trade penetration.

The market is also expected to experience numerous growth opportunities due to the increasing benefits of technologies such as AR, VR, and AI in influencing consumer purchase decisions. The deployment of such technologies helps vendors to enhance the user experience while offering detailed product information in an interactive format. While chatbots have already made their way into the e-commerce market, technologies such as voice commerce are expected to further boost business to business e-commerce market growth.

The COVID-19 outbreak has created unique challenges in most sectors, including business-to-business e-commerce. Businesses changed their business models as supply chains faced a bipolar effect of either excess inventory or shortage of inventory. Moreover, the aftereffects of the pandemic, such as salary cuts, minimized disposable incomes, and loss of jobs, have resulted in reduced spending by promising customers. To overcome these challenges, B2B businesses have shifted their focus to new online strategies, thus contributing to the transformation of the B2B e-commerce industry.

Request sample report of Business-to-Business E-commerce Market@https://www.grandviewresearch.com/industry-analysis/business-to-business-b2b-e-commerce-market/request/rs1

Flexible payment options are favoring business owners. The changing Business-to-Business (B2B) buyer behavior and a well-built emphasis on streamlining purchasing processes are advancing B2B e-commerce companies to offer payment methods such as third-party payments and mobile wallets as their efforts to make B2B transactions more convenient. For instance, in December 2021, Newegg Commerce, Inc. partnered with Affirm, Inc., a payment network, to deliver flexible payment options such as pay-over-time to customers shopping from Newegg.com. Paying with Affirm incurs no hidden costs or late fees and allows customers to split the purchase into simple payments over time. Affirm, Inc. provides its customers with flexibility, transparency, and control at checkout.

Business-to-Business E-commerce Market Report Highlights

• The intermediary-oriented model dominated the market in 2022 and is expected to continue leading the market over the forecast period. This can be attributed to the presence of numerous suppliers and buyers, lower logistics and support costs, and a higher flow of goods & services in this segment.
• The home & kitchen segment captured a sizeable revenue share in 2022. The lockdowns and restrictions imposed to curb the spread of coronavirus encouraged people to spend more time at home, thus contributing to the demand for home appliances around the globe.
• The Asia Pacific market is anticipated to attain a healthy CAGR in the forecast period. This is attributed to rising investments in the telecommunication infrastructure, increasing proliferation of the internet, and a growing number of smartphone users in the region.
• Since the outbreak of COVID-19, key players in the market are focused on strengthening their foothold in the market by implementing strategies such as mergers & acquisitions, partnerships, and geographical expansion. For instance, in October 2020, eBay Inc. partnered with Google LLC’s Google Assistant and introduced voice control to eBay’s Android App. This new partnership was anticipated to bring voice control capabilities to the marketplace to meet the customers’ needs.  

Amidst the slowing economic activity, COVID-19 has accelerated the demand for e-commerce. In 2020, the pandemic impacted several enterprises globally. With stay-at-home restrictions, numerous consumers and businesses went digital to buy and sell goods and services online. Furthermore, the proliferation of web applications and cloud services has increased the demand for B2B e-commerce businesses. Manufacturers, distributors, and wholesalers have been going through digital transformation constantly over the years to create a sustainable future for their respective businesses. In December 2020, Amazon.com, Inc. partnered with Nationwide Mutual Insurance firm, a British mutual financial institution, with Amazon Web Services (AWS) by selecting it as its cloud provider for the company-wide digital transformation.

COVID-19 has brought a shift in consumer preference for online shopping, creating avenues for business-to-business e-commerce market growth. The closure of physical stores coupled with an increase in the number of online orders has also positively impacted the B2B business outlook.B2B marketplaces deliver benefits, such as scalability, digital capabilities, customer-centric approach, and accuracy in analytics.However, technological proliferation, such as the application of cloud technology and artificial intelligence, has enabled the B2B e-commerce market to offer improved customer experience. The internet has emerged as a tool for connecting buyers and sellers more effectively. Internet capabilities have a profound impact on an organization’s value chain. 

Business-to-Business E-commerce Market Report Scope

Businesses are expected to find account-based transfers more appealing over the forecast period owing to their improved speed and security. Further improvements in real-time payment technologies are likely to foster its adoption, creating a favorable environment for online business transactions. Several companies are making significant investments in automated payables and real-time payment technologies, which are expected to contribute to the growth of the segment over the forecast period.

B2B e-commerce enhances supply chain efficiency by providing real-time data pertaining to components such as product availability, inventory, shipment status, and production requirements. Moreover, it helps to improve communicate within the supply chain, allowing OEMs to better organize inventory deliveries, logistics, and other factors to ensure improved efficiency and reliability.  

List of Key Players in the Business-to-Business E-commerce Market

• Amazon.com, Inc.
• ChinaAseanTrade.com
• DIYTrade.com
• eBay Inc.
• eworldtrade.com
• Flexfire LEDs
• Flipkart.com
• IndiaMART InterMESH Ltd.
• KOMPASS
• Quill Lincolnshire, Inc.