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E-commerce software is a platform or an engine assisting to control and centralize data on inventory, add or remove products, process payments, calculate taxes, maintain an e-commerce website, and fulfill orders. In the B2B E-commerce solutions, all of the technical aspects of running a B2B e-commerce website (hosting, security, maintenance) are taken care of by the service provider. In a recent study, the U.S. B2B market is expected to be more than US$ 1 Tn by 2020, growing at 12.1% per annum, contributing to the boost of B2B e-Commerce software and solutions market.
The B2B market is growing rapidly as a study depicts that B2B commerce market would reach US$ 1.2 Tn approximately in 2021. This growth in B2B sales would also lead to high demand for B2B E-commerce software and solutions market. Reducing the cross-border trade policies across the world is providing lucrative growth opportunities for sellers and businesses in the B2B E-commerce solutions and software market.
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Key Players in B2B E-Commerce Software and Solutions market include Oracle Corporation, IBM, NetSuite Inc., Alibaba, SAP, Axway, Netalogue Inc., Phoenix Biz Solutions, Hybris, Shopify and Adobe Inc.
· Web store / Platform Solutions
· Management Software
By Deployment Model
· Buyer Oriented
· Supplier Oriented
· Intermediary Oriented
By Enterprise Size
· Small and Medium Enterprises
· Large Enterprises
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of the Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· The Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
In North America, cloud solutions have been playing a crucial role in boosting the growth of digital commerce in this region owing to their attributes. These including cost-effectiveness, minimum IT investment, automatic integrations, and easy accessibility. Businesses in this region are looking to replace legacy systems with more modern solutions, allowing them to adopt new markets with Omnichannel solutions and pop-up stores. Retailers are also striving to improve the purchasing experience of customers, thereby driving the market for digital commerce software.
In the Asia Pacific, developing infrastructure facilities and surging number of internet users are expected to fuel market growth. Additionally, the region is expected to witness a rise in demand for B2B e-commerce adoption, which can be attributed to the rising number of smartphone users and mobile internet penetration.
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