Market Size of Global B2B E-commerce Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 12.36 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
B2B E-Commerce Market Analysis
The Global B2B E-commerce Market is expected to register a CAGR of 12.36% during the forecast period.
The Global B2B E-commerce market is anticipated to register a CAGR of 12.36% over the forecast period from 2022 to 2027. B2B e-commerce marketplaces offer various benefits, including scalability, accuracy in analytics, digital capabilities, and a customer-centric approach.
- Technological advancements such as artificial intelligence and cloud technologies enabled B2B e-commerce companies to deliver improved customer experience. The changing customer expectations and increasing order complexity have necessitated the digitalization of B2B e-commerce.
- With the increased adoption of e-commerce for B2B applications, recognizing and making personalized product recommendations to the customer has increased to analyze the company's performance and further adapt to the changes based on customer behavior.
- Recently, customers are connecting with the brands they trust to perform business. Also, the increase in technology adoption, such as various smart devices, makes it easy for the customers to compare the products and offerings across multiple channels. With such challenges, B2B e-commerce companies are adopting an omnichannel approach for performing business.
- However, with the increasing adoption of B2B E-commerce, there has been a growing concern about cyber security and data protection. Companies are innovating with technology to stay competitive in the market, increasing cybersecurity threats as cyber attackers are constantly honing for vulnerabilities to exploit.
- With the onset of the pandemic, B2B E-commerce has had a massive shift towards digitalization as buyers and sellers have preferred digital self-serve and remote human engagement. Further, due to various lockdowns imposed worldwide, B2B e-commerce has faced severe supply chain disruptions leading to delayed order times and loss of business.
