Global B2B Marketplaces Market 2021

Global B2B Marketplaces Market 2021

B2B marketplaces have gained momentum during the pandemic: new yStats.com report.

The latest publication from Hamburg-based market intelligence company yStats.com, “Snapshot: Global B2B Marketplaces Market 2021” provides insights into the current state and future trends of business-to-business marketplaces industry across the globe. The publication reveals that during the COVID-19 pandemic, the demand for B2B marketplaces services increased significantly, and new local players appeared in different regions.

Global B2B buyers see potential in business-to-business marketplaces for their companies

Despite the fact that B2B marketplaces currently do not make up a large share in the total B2B sales value, in 2020 and in 2021 they have attracted increased attention from global buyers. According to a recent survey cited in the new yStats.com publication, around the world, one in three B2B buyers purchase at least half of their products on business-to-business marketplaces. Furthermore, during COVID-19, both the frequency and the average amount spent rose substantially, representing yet another sign of increasing importance of the marketplace sales and purchase channel. On a country-level, in Germany, for example, nearly one in four companies were using B2B marketplaces as a sales channel, and this was approximately the same figure across all business sizes.

Newcomers challenge established B2B marketplaces amid COVID-19

It comes at no surprise that in 2021, global giants Amazon Business and Alibaba Groups’ B2B marketplace are still topping the sales volume rankings in North America and Asia-Pacific. However, they are not the only players. Amid COVID-19, many B2B start-up marketplaces were raising substantial amount of investment funding. This was the case, for instance, in the Middle East and North Africa, where in 2021, at least three new players attracted millions in funds. On the other part of the globe, in Europe, French B2B retail marketplaces were especially successful in fund raising amid COVID-19.