Business-to-business (B2B) eCommerce entails companies exchanging products, services, or information via online portals. This industry is experiencing a significant boom, which many believe will continue in the coming years.

In contrast to business-to-consumer (B2C) eCommerce, which occurs between a business and a consumer, a B2B transaction is conducted between two companies, such as online wholesalers and retailers.

A Rapid Growth in Global B2B E-Commerce

In 2021, the global B2B eCommerce market held a market value of $8,523.3 billion and was projected to reach $18,771.4 billion by 2027, according to a recent [url=https://www.researchandmarkets.com/reports/5511320/global-b2b-e-commerce-market-by-type-by-payment?utm_source=BW&utm_medium=PressRelease&utm_code=px5ll7&utm_campaign=1657652+-+Global+B2B+E-Commerce+Market+to+2027+-+by+Type%2c+Payment+Mode%2c+Enterprise+Size+and+Region&utm_exec=jamu273prd]report[/url] by Research & Markets. The market is expected to grow at a Compound Annual Growth Rate (CAGR) of 14.1% by 2027. On a regional level, the Asia Pacific is the fastest growing and has the largest share of the global B2B eCommerce market.

This growth is because of the increasing popularity of the specialized B2B online marketplace. Specialized B2B marketplace is vertical marketplaces focused on small but specific and well-defined population segments. We can create these in different verticals in terms of products, such as chemicals, medical supplies, metals, building materials, etc.

What Exactly Is Happening in the Industry?

We segment the global B2B eCommerce industry into type, payment mode, and enterprise size. By product type, we classify the industry into:

- Cleaning Supplies
- Hospitality Products
- Industrial & MRO
- IT Products
- Office Supplies
- Pantry Products
- Others

The IT products class is expected to have the most significant market share of about 26% because of the increasing adoption of B2B eCommerce in the industry. By mode of payment, we have:

- Credit cards
- Net banking
- Mobile wallet apps
- Others

Experts have estimated net banking to hold the most significant market share, as it is used most often for B2B transactions than any other mode of payment. However, the mobile wallet apps category is expected to experience the fastest growth rate as demand for digital payment options increases.

On the other hand, by enterprise size, we have:

- Small and Medium-sized Enterprises (SMEs)
- Large enterprises

The SME segment will likely hold the largest market share because of the growing demand for B2B eCommerce websites.

Major players in the industry include Alibaba, Amazon, ChinaAsean Trade, DIY Trade, eBay, and IndiaMART, among others. Although the combined market share of the five major players is about 58%, the industry remains competitive and continues to experience growth.

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