Press release
Business-to-Business Electronic Market Size, Insights, Outlook, Overview And Report To 2024-2033
Business-to-Business Electronic Market
The business-to-business electronic market size is expected to see steady growth in the next few years. It will grow to $37.1 billion in 2028 at a compound annual growth rate (CAGR) of 2.5%. The growth in the forecast period can be attributed to cloud-based solutions, focus on personalization, api economy development, expansion of e-procurement, enhanced cybersecurity measures. Major trends in the forecast period include data analytics and insights, personalization of services, blockchain for security, iot applications, focus on user experience (ux).
Market Overview -
Business-to-business electronic are the individuals that provide services that help in bringing together buyers and sellers of goods using the Internet or other electronic means and generally receive a commission or fee for the service.
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Surge In E-Commerce Fuels The Growth Of Business-To-Business Electronics
The surge in the inclination of companies towards electronic or e-commerce platforms to mark their online presence is expected to contribute to the growth of business-to-business electronics. Business-to-business electronic markets help companies reach a large consumer base, reduce costs, and improve efficiency by automating manual processes. B2B electronic markets increase opportunities for manufacturers to collaborate with suppliers and distributors. For instance, in February 2023, Forbes Advisor, a financial advice platform affiliated with the renowned business and finance publication Forbes, reported a substantial increase in global online sales. The figures show a rise from $5.21 trillion in 2021 to $5.71 trillion in 2022, with projections indicating an expected surge to $8.14 trillion by 2026. Additionally, 20.8% of retail purchases are expected to take place online in 2023. Therefore, the surge in online sales on the ecommerce platforms will continue to contribute to the growth of the business-to-business electronic market.
Competitive Landscape -
Major companies operating in the business-to-business electronic market report are Walmart Inc., Amazon.com Inc., Alibaba Group Holding Limited, Rakuten Group Inc., eBay Inc., Kelly's Directories Ltd., MFG.com, Global Sources Trade Ltd., BusyTrade.com, Indiamart Intermesh Ltd., Hong Kong Trade Development Council, Tradekey Pvt Ltd., Made-in-China.com, EC21 Inc., DIYTrade.com, eworldtrade.com, Gasgoo International Co. Ltd., TradeIndia.com, EC Plaza Network Inc., ExportHub Inc., ChinaAseanTrade.com, Thomas Industrial Network Inc., Kompass India Information Private Limited, Taiwan External Trade Development Council, Eceurope Co.
Manufacturers Pioneering B2B Marketplaces For Niche Product Sales
Manufacturers are establishing their own B2B marketplaces for selling their products online and fulfilling customer requirements for niche products, which is likely to be a key trend in business-to-business electronics. For instance, in February 2020, Reliance Steel launched a B2B marketplace called Fast Metals for the supply of metal products. In March 2020, YoKart, an Indian ecommerce marketplace builder launched YoKart B2B, a new B2B marketplace.
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Key Segments -
The business-to-business electronic market covered in this report is segmented -
1) By Deployment Type: Supplier-Oriented, Buyer-Oriented, Intermediary-Oriented
2) By Application: Home And Kitchen, Consumer Electronics, Healthcare, Clothing, Beauty And Personal Care, Sports Apparels, Automotive, Other Applications
3) By End Users: Network as a Service (NAAS), Data as a Service (DAAS), Storage as a Service (STAAS), Back-end as a Service (BAAS)
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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