Pune, India, Nov. 01, 2022 (GLOBE NEWSWIRE) -- Business-to-Business E-commerce Software Solutions Market Size, Share and Global Trend By Type (Web store / Platform Solutions, Management Software), By Deployment Model (Buyer Oriented, Supplier Oriented, Intermediary Oriented), By Enterprise Size (Small and Medium Enterprises, Large Enterprises) and By Geography Forecast till 2022-2029. B2B e-commerce is a fast growing market primarily owing to better customer relationship management. As conducting business is convenient in this market, companies are adopting software solutions to sustain in the market. These solutions help e-commerce companies improve and fast-track their business decisions.
KEY INDUSTRY DEVELOPMENTS
- February 2019: Oracle India announced the launch of Oracle Autonomous Database which is the industry’s first self-driving, self-securing and self-repairing database assisting to improve and fast-track business decisions.
- January 2018: Adobe launched commerce-based micro services across its clouds. The 20 micro services are expected to be flexible and portable small programs offering functions such as shopping cart, wish list, and inventory query. Adobe is among the first providers of marketing-focused clouds to offer these functions as micro services.
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Regional Insights:
Rising Adoption of Cloud Solutions Boosts the Market in North America
Adoption of cloud services in North America is increasing, which in turn, is expected to boost the region’s e-commerce market. This rising adoption is ascribable to automatic integrations, cost-effectiveness, easy accessibility, and the fact that it needs minimal investment. The B2B e-commerce software solutions market growth in North America is likely to witness an upward trajectory as e-commerce firms are planning to adopt modern solutions. In addition to this, companies are keen on replacing their old systems with new and advanced ones. For instance, retailers in North America are adopting software solutions to enhance the customer buying experience.
The market in Asia Pacific is expected to grow considerably in the forecast period. A growing number of internet users and improving infrastructure facilities in this region are enabling growth in the market. Increasing smartphone users and growing internet penetration lead to increasing adoption of B2B e-commerce solution in Asia Pacific. Spurred by these, the B2B e-commerce software solutions market revenue is expected to surge until 2026.
Driving Factor:
Growing Focus on Customer Personalization Helps the B2B E-commerce Sector Move Upwards
B2B e-commerce software helps to centralize and control data on inventory, process payments, and add or remove products as per requirement, among others. Some of the popular sectors such as retail, digital software, distribution, and wholesale are adopting B2B e-commerce solutions. This will further expand the B2B e-commerce software solutions market share. Moreover, companies are adopting several deployment models such as supplier-oriented, intermediary oriented, and buyer oriented. These are mainly adopted based on company requirements. Customization plays a crucial role in the e-commerce industry today as an increasing number of companies are continuously focussing on improving customer experience. Considering this, one of the most popular platforms called Salesforce. This customer relationship management (CRM) platform provides several functions such as pricing modules, delivery efficiency, and order management. Over the years, the platform has developed solutions as per their customer requirements.
B2B e-commerce software solutions allow omnichannel marketing and chatbots for personal purchasing. These solutions have the ability to reach customers across the world. These factors give tailwinds to the market. As per research studies, the B2B e-commerce market is expected to reach around US$ 1.2 Tn by 2021. Growing demand for B2B software solutions is the primary factor for the growing sales in the B2B market.
Adobe Launches 20 Micro Services to Offer Portable and Flexible Functions
The report highlights achievements and growth strategies of some of the notable players functioning in the global B2B e-commerce software solutions market. Some of them include Oracle Corporation, NetSuite Inc., IBM, Alibaba, Axway, SAP, Netalogue Inc., Hybris, Phoenix Biz Solutions, Adobe Inc., and Shopify. Technologies such as augmented reality (AR) are growing in the B2B market as it helps the seller to know about the product fitting in the real world. Companies are putting continuous efforts to fulfil the demands of new age buyers. For instance, Oracle launches an autonomous database cloud service in April 2018. This cloud service works on its own without human intervention. Oracle says that this service will help companies to improve their business decisions. Another company called Adobe launches 20 microservices in January 2018. These services are flexible and portable programs with functions such as wish list, inventory list, and shopping cart.
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Market Segmentation:
| Segmentation | By Type
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By Deployment Model
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By Enterprise Size
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By Geography
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Companies Profiled in B2B E-commerce Software Solutions Market
- Oracle Corporation
- IBM
- NetSuite Inc.
- Alibaba, SAP
- Axway, Netalogue Inc.
- Phoenix Biz Solutions
- Hybris
- Shopify
- Adobe Inc.
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