The B2B E-Commerce Platform Market size is projected to reach US$ 2.80 billion by 2031 from US$ 1.20 billion in 2023. The market is expected to register a CAGR of 11.2% in 2023–2031. Increasing demand for personalized and omni-channel experiences is likely to remain a key B2B e-commerce platform market trend.
Digital technologies are being used by many companies to improve customer experience, boost efficiency, and automate processes. Online business is becoming easier for enterprises due to the widespread adoption of smartphones and the ongoing development of high-speed internet networks. As a result, there are more B2B e-commerce platforms available, giving businesses an easy and effective way to communicate with customers and partners. Simultaneously, ongoing globalization is enabling businesses to conduct B2B e-commerce with clients and vendors throughout the globe, so stimulating international trade.
B2B (business-to-business) commerce is the exchange of goods, services, or information between businesses rather than from business to consumer (B2C). A B2B transaction takes place between two businesses, like an internet retailer and a wholesaler. The spread of the pandemic was one of the major factors fueling the growth of the market in recent years, as most of the businesses have to follow various restrictions. In addition, an increasing number of millennials entering the B2B space is also boosting the growth of the B2B e-commerce platform market.
B2B vendors use third-party eCommerce platforms to broaden their reach, assess competition, and provide convenience to buyers who use marketplaces such as Amazon Business and Alibaba.com to make purchases. B2B marketplaces provide buyers with resources such as comparative shopping, customer ratings, and product reviews. For this reason, according to Google, more than 80% of B2B buyers prefer to order or make payments through digital commerce channels. Hence, the growing expansion of B2B marketplaces is fueling the growth of the B2B E-Commerce Platform Market.
According to Salesforce, Inc., 32% of B2B companies have fully integrated AI, while nearly half (45%) are still in the experimentation stage. Businesses have already noticed significant gains in worker productivity and operational effectiveness. Additionally, AI has the ability to greatly enhance previously problematic areas of B2B digital transformation. AI has the potential to significantly decrease the amount of manual labor required for these tasks. With generative AI, businesses can now show more of their inventory digitally — and many will be able to expand into even more complex product material, such as visual buying experiences. Thus, the growing adoption of AI is expected to create an opportunity for the growth of the B2B e-commerce platform market in the forecasted period.
Key segments that contributed to the derivation of the B2B E-Commerce Platform Market analysis are type, enterprise size, and end-user industry.
The geographic scope of the B2B E-Commerce Platform Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
Asia Pacific is anticipated to witness significant growth in the B2B e-commerce platform market. The market in this region is segmented into Australia, China, India, Japan, South Korea, and the rest of APAC. The region's expanding industrialization and urbanization, particularly in China, Japan, and India, are likely to boost market expansion. Also, According to the International Air Transport Association (IATA), APAC leads the growth of the e-commerce market globally, with China accounting for a significant percentage of the growth. As per the International Trade Administration, the e-commerce market of China is the largest in the world and generates almost 50% of the world’s transactions. Furthermore, according to the India Brand Equity Foundation (IBEF), the e-commerce market in India is expected to reach US$ 188 billion by 2025. Thus, the growing e-commerce sector in the region is fueling the growth of the B2B e-commerce platform market.
The regional trends and factors influencing the B2B E-Commerce Platform Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses B2B E-Commerce Platform Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1.20 billion |
| Market Size by 2031 | US$ 2.80 billion |
| Global CAGR (2023 - 2031) | 11.2% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The B2B E-Commerce Platform Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the B2B E-Commerce Platform Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The B2B E-Commerce Platform Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
The “B2B E-Commerce Platform Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The global B2B E-Commerce Platform Market was estimated to be US$ 1.20 billion in 2023 and is expected to grow at a CAGR of 11.2% during the forecast period 2023 - 2031.
Growing Expansion of B2B marketplaces is the major factors that propel the global B2B E-Commerce Platform Market.
Increasing demand for personalized and omni-channel experiences is anticipated to play a significant role in the global B2B E-Commerce Platform Market in the coming years.
The key players holding majority shares in the global B2B E-Commerce Platform Market are Apttus Corporation, BigCommerce Pty. Ltd., Alibaba, Kibo Commerce, Magneto IT Solutions Pvt. Ltd, On Demand Solutions Ltd., Salesforce.com, Inc., Shopify Inc., Virto Commerce, and Woocommerce (Automattic Inc.).
The global B2B E-Commerce Platform Market is expected to reach US$ 2.80 billion by 2031.