Over the past two decades, the B2B e-commerce industry has had a love-hate relationship with marketplaces. B2B marketplaces began their quest for love around the turn of the millennium, but the relationship that resulted was brief. Inadequate or nonexistent technology, a lack of interest on the part of buyers and sellers, and competitive differences prevented industry marketplace coalitions from successfully collaborating.
B2B buyers and sellers are again in love with marketplaces in 2022. Additionally, marketplace operators share this sentiment. The B2B e-commerce channel with the fastest growth rate is now the B2B marketplace.
What is the current size of B2B marketplaces?
In 2021, B2B marketplace sales increased 131% to $56.5 billion. They are also anticipated to rise at the same rate, reaching $130 billion in 2022.
The B2B e-commerce landscape has undergone significant transformations since the pandemic struck more than two years ago. E-commerce for businesses and B2B marketplaces are now commonplace. Between 2020 and 2022, sales on B2B marketplaces increased by 5.3 times (projection).
In addition, business-to-business marketplaces will become even more widespread after 2023. B2B marketplaces expanded 7.2 times faster in 2022 than all B2B e-commerce combined.
So, whatever business you are running right now, you must be online and choose the best B2B marketplace to advertise your business online there. India Udhyog is one of the giant B2B platforms of 2023 that you can choose to get your business online for more ROI and fast possible growth.
So, that day is not so far away when everything will be online; you can choose or buy any product or service online, so the prospectus gets ready for that day, and register your business from today at India Udhyog to get one step ahead and achieve more fast results than your competitors.