According to the new research report published by The Insight Partners, titled “b2b e-commerce platform Market - Global Analysis and Forecast to 2027”, the global b2b e-commerce platform market is expected to reach US$ 1,909.1 Mn by 2027, registering a CAGR of 11.8% during the forecast period 2019-2027.
E-commerce sector has become an increasingly significant source of competitive advantage for B2B companies. It helps them enables not only to reduce transactional costs and provide wide range of additional services, but also to improve efficiency in association with their suppliers and customers. In the context of continuous increase of the services role in B2B markets and rapid development of information technologies, the B2B e-commerce platforms are witnessing high demand.
With electronic commerce people can exchange information and purchase goods on business transactions online. Although as a business channel the Internet's role is a recent phenomenon, its impact, on business and promotional activities, has been substantially more than that of other business channels. The e-commerce gives companies improved reliability and efficiency of business processes through transaction automation.
The B2B e-commerce help companies to improve operational efficiency and reduce costs, strengthen relationships with existing customers, grow the business, deliver the right information to distributors, partners, resellers, and customers. There are various characteristics that are offered by the B2B e-commerce platform to provide the benefits. These characteristics include integration, support for different business models in the demand chain, cross-channel content management, support for complex workflows and client self-management.
Currently, the business to business e-commerce platform market is heavily fragmented with the presence of a large number of companies with a strong regional presence. However, globally the 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.
Currently, the global business to business e-commerce platform market continues to witness a significant proportion of mergers and acquisition between the leading market players operating in the business to business e-commerce platform market. Factors such as the presence of a considerable number of market players and high market competitiveness coupled with limited organic growth opportunities have attributed to the substantial amount of mergers and acquisitions between the market players.
The consistent advancement in technology along with periodic modification into the existing industry standard practice is anticipated, continue to offer steady market growth opportunities for the business to business e-commerce platform market players. Besides, the recent rise in emphasis towards the integration of digital technologies into the business to business e-commerce solutions are gaining significant traction and subsequently is projected to be the dominant market driving force during the coming few years. Furthermore, the continuous economic prosperity, along with growing logistic and trade investments in emerging economies, is also expected to provide attractive business growth opportunities for the market players during the coming years.
The major players operating in the market for global b2b e-commerce platform market are 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, and WooCommerce (Automattic Inc.).
The report segments the global b2b e-commerce platform market as follows:
Global B2B E-Commerce Platform Market - By Type
Global B2B E-Commerce Platform Market - By Enterprise Size
Global B2B E-Commerce Platform Market - By End-user Industry
Global B2B E-Commerce Platform Market - By Geography
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