The B2B e-commerce market has been evolving rapidly owing to the pervasive impact of the global online ecosystem and changing nature of buyers. It comprises buying and selling of goods and services between companies via an online platform. The key offering is primarily a website, where an online market is created bringing together buyers as well as sellers of products or services. The B2B e-commerce market landscape has changed significantly as Google Shopping and AmazonSupply have targeted suppliers across the B2B e-commerce space.
Increasing smartphone and internet usage is expected to serve as a key driver for the B2B e-commerce market. In addition, emergence of cloud computing has also positively impacted market growth. Cloud platform offers the required operational agility and scalability for B2B integration, and there exist many types of public and private cloud computing options, including Network as a Service (NaaS), Data as a Service (Daas), Storage as a Service (STaas) and Back-end as a Service (BaaS).
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Depending on the budget and scalability of a business, various options may be matched, customized and tailored to best suit industry-specific needs. B2C experiences are largely driving B2B e-commerce market demand. Security concerns and rise in the number of internet frauds pose a challenge to industry participants. Regulatory environment, especially those governing international payments, can act as bottlenecks to the B2B e-commerce market. Key technologies deployed across B2B e-commerce include EDI (Electronic Data Interchange), CRM (Customer Relationship Management) and ERP (Enterprise Resource Planning).
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