Global Cross-Border B2B
Electronic Commerce Market was valued at US$
54345.36 million in 2020 and is expected to reach US$ 665074.66 million by
2030, growing at an estimated CAGR of 32.2% over the forecast period
(2021-2030). Irrespective of initial opposition from
the conventional businesses, the global cross-cross-border B2B e-commerce
industry has managed to boom in a very less time, mainly because of was
successful in converting those who opposed into a part of them. Currently, most
of bigger businesses that operated traditionally are going digital or being
part of any other growing e-commerce company. Companies like Alibaba.com and
Amazon.com have transformed the industry and themselves have emerged as
end-to-end trading platform for small-and medium-sized businesses. This
industry which caters to more than 190 countries has easily crossed the hurdle
called Covid-19. Collaborating with several leading governments, these
e-commerce companies have been delivering essentials in times when majority of
businesses have been forced to shut down. Driven by factors like scalability,
no geographical limitations and ability to offer any sort of product, this
industry has comparatively biggest potential as compared to any other industry
today.
Top Key Players includes in Cross-Border B2B
Electronic Commerce Market: Amazon.com, Alibaba.com, Flipkart, Walmart
Inc., eBay, Rakuten Group Inc and JD.com amongst others.
Get More Details of Cross-Border B2B
Electronic Commerce Market @ https://www.industryglobalnews24.com/what-makes-global-crossborder-b2b-ecommerce-market-a-booming-industry-in-the-current-covid19-scenario-a-report-by-absolute-markets-insights
Category
In terms of revenue, the
apparel & footwear segment captured the highest share in 2020 and is
expected to continue a similar trend over the forecast period owing to rising
demand from wholesale apparel and footwear as well as industrial and consumer goods
businesses. Currently, healthcare is a trillion dollar industry and a
substantial amount of its revenue is derived from beauty and personal care
products that are sold online. Fast delivery, higher amount of discounts,
availability of multiple payment options and help from the users in selecting
an ideal product is primary reason why most of the people prefer purchasing
their healthcare products online. Products like protein powders, moisturizers
and shampoos are among best sellers on many e-commerce sites.
Along with beauty and
wellness products, the number of people purchasing electrical devices like
mobile phones and laptops are increasing each passing day. The flash sales
introduced by e-commerce companies that offer heavy discounts lure major chunk
of people to grab the limited-time deal. Today leading smartphone and
electronics companies are launching their products exclusively on online
platforms, which leave the consumers with no other option of buying from
elsewhere.
Platform
The platform segment is divided
into two categories i.e., web based and app based. The web based segment
captured the highest penetration in 2020. On the other hand, the app-based
segment is expected to witness the highest growth over the forecast period.
One-time-click option is one of the easiest options and avoids any king of
delay in in operations. Not adapting over the time leads to stagnancy and
example of companies like Nokia only affirms this more. The companies that
started selling online with the help of websites today have their own
applications that are compatible for devices like smartphones, tablets and
laptops. These applications are integral part of every individual's smartphone
as they are easy to use and are backed by technology that automatically
suggests products of their choice. The sales from the applications contribute
to most of the revenue generated by the e-commerce companies.
Similar to applications,
the websites of the e-commerce companies have helping them earn maximum amount
of profits for numerous years. As most of the people work in front of their
computer desks or on a laptops, marketing campaign run by these companies
online has proven to be successful in attracting them and this is why websites
of e-commerce companies are still in existence and bring in maximum sales to
them.
Region
North America region
captured the highest penetration in 2020 and is anticipated to continue a
similar trend over the next eight years owing to rising demand from the United
States. While the region of North America happens to be the hub of e-commerce
companies as majority of them including likes of Amazon, Walmart and eBay, this
industry’s highest share comes from this region. Availability of variety of
products in lesser delivery time helps the industry generate maximum revenue.
On the other hand, the continent of two most populated countries, China and
India, the global cross border B2B electronic commerce industry is expected to
witness the highest growth rate in the Asia Pacific region. The Chinese market
is dominated by Alibaba Group and the company delivers almost every product.
Similarly, India is the biggest market for the industry as it is growing each
passing day.
Contact Us:
Company: Absolute Markets Insights
Email Id: sales@absolutemarketsinsights.com
Phone: IN +917400242424, US +1-510-420-1213
Contact Name: Shreyas Tanna
Website: www.absolutemarketsinsights.com/
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