Increased Online Orders Drive Global B2B eCommerce Market

Triton Market Research presents the Global B2B eCommerce Market segmented by Payment Mode (Bank Transfer, Digital/Mobile/E-Wallets, Cash on Delivery, Credit and Debit Cards, Others), Product Type (Industrial & Science, Sports, Consumer Electronics, Food and Beverage, Construction, Automotive, Clothing, Beauty & Personal Care, Others), and Regional Outlook (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa).

It further explains the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter’s Five Forces Analysis, Market Strategies, Drivers, Challenges, Opportunities, Market Attractiveness Index, Vendor Scorecard, Competitive Landscape, Research Methodology & Scope, Global Market Size, and Forecasts & Analysis (2022-2028).

Based on Triton’s research report, the global B2B eCommerce market is estimated to grow at a CAGR of 21.22% during the forecast period 2022-2028. 

The surge in the number of digital buyers has influenced companies to shift towards B2B eCommerce platforms. These websites enable organizations easily measure and evaluate marketing campaigns, sales effectiveness, and inventory turns. Therefore, an increase in the number of digital buyers and online orders boosts the business-to-business eCommerce market on a growth path.

On the contrary, data privacy and security concerns and the need for high investments impede the B2B eCommerce market’s development across the globe.

Globally, the Asia-Pacific is deemed to register the fastest growth over the forecasted years. The region’s robust progress is on account of rising digitalization across industries, along with a surge in digital buyers. Along with these factors, the market is supported by the rising expansion of new business-to-business eCommerce marketplaces. Social media penetration has created a high demand for digital marketing, opening new opportunities for the B2B eCommerce market.

The prominent companies thriving in the B2B eCommerce market are Alibaba Group Holding Ltd, ThomasNet, Flexfire LEDs, DIYTrade, Chinaaseantrade.com, Quill Corporation, IndiaMART InterMESH Ltd, eWorldTrade, Flipkart, MSC Industrial Direct, Kompass, Global Sources, Amazon Inc, eBay Inc, and EC21.

New firms pose a threat to existing brands since consumers tend to easily shift to competitors. This is mainly owing to low switching costs. However, the high cost of brand development in online retail weakens the influence of new entrants. Thus, the threat of new entrants remains moderate in the market. Further, the competition among existing players is high owing to various strategic initiatives such as product launches, expansions, investments, and joint ventures.