Countries Covered: Brazil, China, Germany, India, USA
Publication Date: 05/02/2020
Questions Covered in the report:
- How much sales will be generated on B2B E-Commerce marketplaces worldwide in 2024?
- What is marketplaces’ share of global B2B E-Commerce sales?
- How high is the usage rate of B2B E-Commerce marketplaces among B2B buyers worldwide?
- What motivates small businesses to source through online marketplaces?
- What are the leading global B2B E-Commerce marketplaces?
B2B marketplaces outpace global B2B E-Commerce growth
Marketplaces to reign global B2B E-Commerce in 2024
B2B E-Commerce marketplaces have become a popular destination for corporate purchasing. According to recent surveys cited in the yStats.com report, marketplaces ranked first by usage and second by preference among the top purchasing channels used by global B2B buyers. With this trend expected to intensify in the next few years, B2B E-Commerce marketplaces are expected to account for nearly one-third of global online B2B turnover by 2024, four times more than in 2018.
Alibaba.com and Amazon Business compete for leadership
The world’s largest E-Commerce companies, Alibaba and Amazon, each have platforms for B2B buyers and sellers, which have grown exponentially in recent years. Amazon Business’ annual GMV increased ten-fold since its launch, while Alibaba.com reached over 10 million buyers in close to 200 countries. Both companies are targeting international markets, with Alibaba launching in the U.S. and Amazon Business expanding to Canada in 2019. The success of these two companies helps bring a more retail-like experience to B2B shoppers and stimulates the growth of B2B E-Commerce, while also intensifying competition.