The global B2B e-commerce market is estimated to grow at a significant CAGR of 15% during the forecast period (2024-2031). The market growth is driven by the expansion of the e-commerce industry, technological advances in the e-commerce industry, and the rising number of new players in the e-commerce industry. The rapid urbanization and internet penetration are contributing significantly to the expansion of e-commerce industry globally. EDI (Electronic Data Interchange), CRM (Customer Relationship Management), and ERP (Enterprise Resource Planning) are propelling the B2B e-commerce market. Furthermore, increasing cloud integration is contributing to the market growth during the forecast period.
The global B2B e-commerce market is segmented by type (buyer-oriented e-commerce, supplier-oriented e-commerce, and intermediary-oriented e-commerce), by verticals (fashion and apparel, automotive, food and beverages, healthcare, consumer electronics, and others), and geography (North America, Europe, Asia-Pacific, and Rest of the World).
Market Dynamics
- The fashion and apparel vertical is expected to register significant growth in the market during the forecast period, owing to the rising trends of online purchasing of fashion and apparel products. The segment is increasingly realizing the future opportunities of e-commerce in ready-to-wear retail and high-end design.
- Additionally, the food and beverages segment growth is accredited to the shifting trends of consumers toward online food channels. Furthermore, the rising disposable income is contributing to the market growth during the forecast period.
- The North American B2B e-commerce market is rapidly expanding owing to the development of technological infrastructure in major economies such as the US. E-commerce companies offer tracking, pickup, contract logistics, and more. The regional market is additionally expanding owing to the integration of various companies globally.
- Furthermore, the Asia-Pacific region is estimated to hold a significant share of the market owing to the presence of key players such as Alibaba and Amazon.
The major players in the global B2B e-commerce market include Alibaba Group Holding Ltd., Amazon.com Inc., Flipkart Pvt. Ltd., Focus Technology Co. Ltd., India MART, Netalogue Technologies Plc, and others. The market players are actively adopting different growth strategies such as mergers & acquisitions, capacity expansion, and product innovation among others, contributing significantly to the market growth. For instance, in 2023, Ultra Commerce acquired Omnyfy, to expand its B2B digital marketplace offering.
Recent Developments
- In August 2024, Wasoko and MaxAB merged to evolve as a multi-vertical ecosystem for Africa's $600 billion informal retail sector. The merger involved integrating 16 subsidiaries across multiple countries. Some of the high-profile investors collectively invested over $240 million in Wasoko and MaxAB before the merger.
- In August 2023, Schaeffler India Ltd. acquired 100% shares of KRSV Innovative Auto Solutions Private Ltd. The acquisition presents an ideal synergy for Schaeffler’s future aftersales activities in India. It will be a key enabler for the aftermarket ecosystem, including distribution partners.
To learn more about this report request a sample copy @ https://www.omrglobal.com/request-sample/b2b-e-commerce-market