B2B E-Commerce Platform Market Trends, Top Companies, Opportunities and Forecast by 2027
Posted by Avi on October 20th, 2022
The B2B E-Commerce Platform Market expected to grow from US$ 783.3 million in 2019 to US$ 1,909.1 million by 2027; it is estimated to grow at a CAGR of 11.8% from 2019 to 2027.
Due to advancement in new technologies such as AI and ML, businesses are enhancing their performance which is leading to the long-term success. The positive impact of such technologies increase the productivity of the business and allows to make more efficient use of time. AI in e-commerce is transforming the world of online shopping and satisfying expectations with the new e-commerce techniques and standards. In the current scenario, the growth of AI is accelerating swiftly, which in turn attracting the e-commerce solution providers to take certain steps toward future through new technologies. The key features of AI such as, Chatbots, recommendation engines, predictive sales, warehouse automation, voice command, and virtual assistant, are anticipated to drive the entire supply chain in the e-commerce sector.
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AI in e-commerce platform may further support in reducing customer attrition rate, improving the delivery over value of the business without any business leakages, and reducing high market costs. In addition, leading vendors are focusing to utilize machine learning in the cloud to provide smart B2B personalization i.e. converting data into insights which offer the best results, even for highly complex scenarios. For instance, optimizing a quote for price, discounting, and sales compensation on the basis of similar deal and customer profiles. Optimizing across this range of variables is extremely complex, however, using artificial intelligence and machine learning, is expected to result in a key competitive advantage for the B2B enterprises across the world.
The B2B commerce sales are quickly increasing and the customers in today’s time desire for a more digital experience just like B2C e-commerce experience on Alibaba and Amazon. As this trend continues through the forecast period, there is substantial market revenue potential for B2B e-commerce platform providers, thereby resulting in significant market growth. Thus, emerging trends such as artificial intelligence, machine-learning, and mobile B2B e-commerce is expected to drive the adoption of B2B e-commerce platforms as B2B merchants invest to sustain their market position within their respective industries. Thus, the integration of advanced technologies such as artificial intelligence and machine learning on the platforms, would definitely benefit the B2B e-commerce platform market players to generate higher revenues in the coming years, thereby, catalyzing the market growth.
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About the AuthorAvi
Joined: September 26th, 2022
Articles Posted: 29
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