The United States B2B eCommerce market size was valued at USD 1,476 billion in 2021 and is projected to reach USD 8,573 billion by 2030, registering a CAGR of 21.6% during the forecast period (2022-2030).
Business-to-business e-commerce, or B2B E-commerce, is the buying and selling of products and services between companies over the Internet. It refers to exchanging products and services between companies through electronic means. Wholesalers, manufacturers, distributors, and other B2B sellers can save time and money by processing orders online. Companies offering both traditional storefronts and online marketplaces are included here.
The transitional change in B2B e-commerce purchasing behavior is crucial to propelling the market. Other reasons expected to contribute to the market's expansion over the next few years include the increasing popularity of business-to-business (B2B) e-commerce and the adoption of B2B models by major e-commerce players. On the other hand, the market's restricted visibility is seen as a potential obstacle. However, during the predicted period, the market will benefit from integrating value-added services from B2B e-commerce and B2B platforms.
Business-to-business (B2B) e-commerce is growing as more and more consumers become accustomed to the convenience of shopping online. E-commerce platforms catering to businesses to businesses also allow for customization and dynamic product inventories. Business-to-business (B2B) companies provide customers with resources to help them make informed buying decisions. Providing options to B2B customers based on their tastes and past purchases significantly improves the B2B shopping experience and attracts more customers to the company.
The United States had 246,809,221 internet subscribers in July 2016, per the Central Intelligence Agency (CIA) data. B2B e-commerce has seen growth thanks to the complementary capabilities of the internet and devices. Smartphone B2B purchasing is more practical than the conventional ways.
Compared to B2C e-commerce, the B2B sector is much more limited. Due to customers' propensity for impulse purchases and exceptional consuming patterns, business-to-consumer (B2C) e-commerce enjoys a large customer base. In contrast, business-to-business (B2B) e-commerce serves a relatively niche market. Younger generations tend to prefer business-to-business online transactions. However, many corporate purchasers need to learn what they're missing out on by not using B2B platforms. Baby boomers and members of Generation X in emerging markets are stubbornly devoted to tried-and-true commercial purchasing practices because they consider these more reliable and trustworthy. Several regions' populations are acquainted with business-to-consumer (B2C) e-commerce sites because of their prevalence, but the B2B marketplace is still largely uncharted.
Integration of order fulfillment software has helped B2B E-commerce businesses improve their awareness of order fulfillment operations, including the status of order confirmations, on-time delivery performance, and other aspects of order management, as digital technologies have become more widely used.
Even when working with numerous partners, such as logistics providers, forwarders, and express companies, modern technology allows businesses and their customers to monitor order delivery from beginning to finish. To boost client satisfaction and loyalty, B2B e-commerce firms are increasingly adopting such technologies to automate the entire supply chain.
The United States B2B eCommerce market is segmented based on the category of supply and end-user.
Based on the supply category, the market is segmented into Office Supplies, FMCG, IT Products, Industrial and MRO, and Janitorial and Sanitation.
The FMCG segment dominated the market and is expected to grow at a CAGR of 21.3% during the forecast period.
Based on End-User, the market is segmented into agribusiness, automotive, construction, information technology, telecom and media, transportation and logistics, retail and distribution, and others.
The retail and distribution segment dominated the market and is expected to register a CAGR of 22.3% over the forecast period.
The United States is a significant revenue contributor and is expected to grow at a CAGR of 21.7% during the forecast period. Over the past few decades, B2B has become increasingly digitized, and recently, the e-commerce component of this digitization has been growing faster than the e-procurement and EDI sales portion. According to the U.S. Census Bureau, e-commerce sales accounted for 14.3% of total sales in the first quarter of 2022, an increase of 6.7% compared to the first quarter of 2021. The increasing popularity of retail e-commerce indicates consumer preference, resulting in the evolution of the ecosystem and the emergence of new e-commerce platforms and market participants. This also expands the market for B2B e-commerce platforms and their respective consumers. In addition, many retailers rely solely on online channels rather than establishing offline facilities to take advantage of the platforms' expansive reach.
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