The global b2b e-commerce platform market accounted for US$ 714.0 Mn in 2018 and is expected to grow at a CAGR of 11.8% over the forecast period 2019-2027. The global b2b e-commerce platform market would account for US$ 1,909.1 Mn by 2027.
Global B2B E-Commerce Platform Market to 2027 – Analysis and Forecasts by Type (On-Premise and Cloud); Enterprise Size (SMEs and Large Enterprises); End-user Industry (Automotive, Electricals & Electronics, General Industries, and Others) – Analysis and Forecasts
The growth in APAC region for the b2b e-commerce platform market is rising due to rapid urbanization and industrialization in countries such as China, Japan, and India. Also, the region is one of the biggest exporters of products, goods, and services. APAC is the global leader in e-commerce market size as it is a home to two out of the top five highest revenue generating e-commerce countries across the globe. China alone contributes over one-half of global e-commerce revenues. Other leading countries include Japan and South Korea.
In addition, India is growing at a rapid pace in e-commerce market. Further, the Southeast Asia is home to around 350 million online shoppers and represents a significant opportunity for international brands. The e-commerce industry growth in developing Asian markets has been propelled by the establishment of marketplaces such as Flipkart in India, broadband infrastructure and increased logistics. India, Malaysia, Indonesia, Philippines, and Vietnam are the five major countries in the Asia which are expected to grow at a significant growth rate in the e-commerce industry over a span of 5 years.
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The b2b e-commerce market keeps on progressing and experiences high development in both developing and developed markets. Through the growth of nonbanking players in the payments industry, the e-commerce market is expanding at a rapid pace. It is also supporting the growth of MSMEs eventually. For instance, in India, strategic government initiatives such as, Skill India, Digital India, Startup India, and Make in India, have been propelled to make a favourable business condition in MSME sector. Besides the government initiatives, certain improvements have been observed in the private business portions. This situation has propelled the emergence of the business-to-business e-commerce players, who have not just grown to offer specialty administration to MSMEs but are also filling in as a stimulus to the growth of the MSMEs and India’s GDP. Pertaining to the fact the ecommerce industry and B2B transactions are escalating in different countries in Asia Pacific, the demand for robust software or platforms is significantly growing. The SMEs as well as large enterprises in the countries mentioned above are heavily emphasizing on the procurement of B2B ecommerce platform with an objective to upshoot respective annual profits and facilitate the end-users to easily and efficiently purchase their products. Thus, growing emphasize on ecommerce platforms among the B2B industry players in Asia-Pacific countries is driving the b2b e-commerce platform market.
The global b2b e-commerce platform market is segmented into type, enterprise size, end-user industry and geography. Based on type, the b2b e-commerce platform market is segmented as on-premise and cloud. Based on enterprise size, the b2b e-commerce platform market is segmented as SMEs and large enterprises. Based on end-user industry, the b2b e-commerce platform market is segmented into automotive, electrical & electronics, general industries, and others. Geographically, the b2b e-commerce platform market is segmented into five strategic regions — North America, Europe, APAC, MEA, and SAM.
Globally the b2b e-commerce platform market constitutes some prominent market players including Apttus Corporation, Big Cartel, LLC, Infomart2000 CORP. (3DCART), Insite Software Solutions, Inc., KIBO Software, Inc., Magneto IT Solutions Pvt. Ltd, Shopify Inc., Salesforce.com, Inc., Volusion, LLC., WooCommerce (Automattic Inc.) among other market players with global presence and diverse customer base.
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The overall global b2b e-commerce platform market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the global B2B E-Commerce Platform market. It also provides an overview and forecast for the B2B E-Commerce Platform market based on all the segmentation provided for the global region. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the B2B E-Commerce Platform industry.
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