New York, Feb. 17, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Business-to-Business Electronic Global Market Report 2023" - https://www.reportlinker.com/p06282513/?utm_source=GNW
Major players in the business-to-business electronic market are Amazon, Alibaba, Rakuten, Flipkart.com, IndiaMART, InterMESH Ltd., and eBay Inc.
The global business to business electronic markets market will grow from $31.75 billion in 2022 to $32.76 billion in 2023 at a compound annual growth rate (CAGR) of 3.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The business to business electronic market is expected to grow to $36.07 billion in 2027 at a CAGR of 2.4%.
The business-to-business electronic market includes revenues earned by entities by providing services such as listing services, sales assistance, and logistics services.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
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.
Asia Pacific was the largest region in the business-to-business electronic market in 2021.North America was the second-largest region in the business-to-business electronic market.
The regions covered in the business-to-business electronic market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main deployment types of business-to-business electronics are supplier-oriented, buyer-oriented, and intermediary-oriented.A supplier-oriented electronic is one in which a group of suppliers creates an online marketplace to create an efficient channel for selling to a large number of enterprises.
The application areas of business-to-business electronics are home and kitchen, consumer electronics, healthcare, clothing, beauty, and personal care, sports apparel, automotive, and other applications that are used in Network as a Service (NAAS), Data as a Service (DAAS), Storage as a Service (STAAS), and Back-end as a Service (BAAS).
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 October 2020, The Dentists Supply Co. and Henry Schein Inc., a USA-based dental products distributor, together relaunched TDSC.com as a healthcare supply source for members of all 50 state dental associations.
Increasing cyberattacks on business-to-business e-commerce websites are expected to hinder the business-to-business electronic market’s growth in the coming years.Cyber-attacks harm the company’s reputation along with financial loss.
In November 2021, the cyber threats to the E-commerce sector increased by 37% in the third quarter as compared to the first quarter of the same year.The cyberattack decreases the trust of customers and sellers, and those who opt-out of their services and the businesses are also bound to pay a ransom in the form of money, e-currency, and data.
This setback acts as a major restraint on the growth of the market.
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.
In April 2022, BigCommerce, a US-based Open SaaS eCommerce company, acquired BundleB2B for an undisclosed amount.The acquisition would help BigCommerce to improve its offerings for B2B customers.
BundleB2B is a Texas-based B2B ecommerce solution provider.
The countries covered in the business-to-business electronic market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products
The business-to-business electronic market research report is one of a series of new reports that provides business-to-business electronic market statistics, including business-to-business electronic industry global market size, regional shares, competitors with a business-to-business electronic market share, detailed business-to-business electronic market segments, market trends and opportunities, and any further data you may need to thrive in the business-to-business electronic industry. This business-to-business electronic market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
Read the full report: https://www.reportlinker.com/p06282513/?utm_source=GNW
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