The global B2B marketplaces venture capital funding reached EUR 5.8 billion in 2023.
The latest report from yStats.com, “Global B2B E-Commerce Marketplaces Overview 2024,” offers a detailed examination of the global B2B E-Commerce landscape, spanning Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa (MENA). This report highlights the dominant platforms driving digital procurement and the growing adoption of advanced technologies such as AI, big data, and digital payment solutions, which are transforming the B2B trade sector across regions.
Global Shift Towards Digital B2B Trade Channels
The report underscores the global shift towards digital B2B platforms, as businesses across all major regions increasingly rely on online marketplaces to streamline procurement, enhance efficiency, and expand their international trade activities. The growth of these platforms is supported by regional developments, with leading platforms adapting to the specific needs of businesses within their respective markets.
Asia-Pacific and North America: Alibaba, 1688, and Amazon Business Leading Digital Trade
In the Asia-Pacific, Alibaba.com dominates the B2B marketplace, facilitating global and local trade with AI tools and secure payments, while 1688.com connects Chinese manufacturers with SMEs. Together, these platforms generated significant revenue, with Alibaba.com alone reporting nearly USD 130 billion in 2023. In North America, Amazon Business leads the sector, offering a wide product range and advanced procurement tools. It generated over USD 30 billion in sales in 2023, expected to grow to over USD 65 billion by 2026.
Europe and Latin America: Vertical Marketplaces and SME Empowerment
Europe’s B2B marketplace sector is expanding rapidly, with over 250 active platforms. Vertical marketplaces like ManoMano (building materials) and Scoutbee (AI-powered procurement) are gaining traction. Meanwhile, Latin America’s B2B sector is on the rise, with platforms like Nocnoc and Meru empowering SMEs to access global markets. By 2024, 80% of the region’s B2B transactions are projected to occur online, driven by AI and automation.
Middle East & Africa: Digital Transformation and Investor Interest
In the Middle East and Africa, B2B E-Commerce is experiencing rapid growth, led by platforms such as Tradeling in the UAE and Sarafu in East Africa. The region’s market is expected to grow, driven by government initiatives and increased digital adoption. Investor interest is also rising, particularly in foodtech and fintech startups.
