EUROPE B2B ECOMMERCE MARKET FORECAST 2023-2032

The Europe B2B eCommerce market growth evaluation includes the assessment of Spain, Poland, Belgium, Germany, Italy, the United Kingdom, France, and Rest of Europe. As a global economic powerhouse and a central point for global trade, the United Kingdom has swiftly integrated B2B eCommerce methods across diverse sectors. The administration of the UK has consistently advocated for initiatives driving digital transformation. This drive has significantly contributed to the advancement of B2B eCommerce. Initiatives such as the Digital Strategy and assorted funding programs are geared toward motivating enterprises to adopt digital technologies and online platforms for their B2B dealings. The expanding populace of digital purchasers, combined with a range of strategic initiatives by businesses and the prominence of major stakeholders within the nation, boosts the B2B eCommerce market growth in the United Kingdom.

One of the significant trends in the France B2B eCommerce market is the increasing significance of omnichannel strategies. Companies are acknowledging the requirement to offer a smooth and unified experience across various channels, encompassing online marketplaces, mobile apps, social media platforms, and brick-and-mortar stores. French enterprises are dedicating resources to technologies that empower them to link their diverse sales channels, harmonize inventory, and deliver consistent customer experiences.

The Europe B2B eCommerce market segmentation includes mode of payment and industry. The mode of payment segment includes credit & debit cards, digital/mobile/e-wallets, cash on delivery, bank transfer, and other modes of payment.

Through a credit card, charges are made against a line of credit instead of cash deposits in the owner’s bank account. It allows the customer to make purchases and pay for them later. A debit card deducts money directly from the consumer’s checking account. Online payments through debit cards, credit cards, or smart cards are some of the e-money modes used in transactions. 

In addition, there has been a significant growth in the population using credit and debit cards globally, which is expected to contribute to the market growth during the forecast period. Further, growth in the usage of payment cards is expected to increase its penetration and adoption for B2B eCommerce payments, which is estimated to positively impact the market growth during the forecast period.

Bank transfer, wire transfer, or credit transfer refers to electronic funds transferred from one entity or person to another. A bank transfer can be made from one bank account to another bank account or via a transfer of cash at a cash office. Bank transfers are also growing in popularity globally as an online payment method. 

Some of the major factors contributing to the growth of bank transfers include lower acceptance costs, fewer chargebacks for merchants, convenience for consumers, the rise of banked populations in emerging markets, and regulatory push from PSD2/open banking mandates in Europe.

Key players in the Europe B2B eCommerce market include eBay Inc and Amazon Inc.

Amazon Inc is a multinational technology company focusing on digital streaming, eCommerce, cloud computing and artificial intelligence. It functions as a marketplace for consumers, content creators, and sellers. It offers merchandise and content purchased for resale from third-party sellers and vendors. Additionally, it provides co-branded credit card agreements and advertising services. It operates through three segments, Amazon Web Services (AWS), International, and North America, with headquarters in Seattle, Washington, the United States.