EUROPE B2B ECOMMERCE MARKET FORECAST 2022-2030

The Europe B2B eCommerce market is anticipated to surge with a 21.15% CAGR during the forecast period of 2022 and 2030, with an expected valuation of $35833.86 million by 2030.

Expanding new business-to-business eCommerce marketplaces and websites across different regions and countries are expected to supplement the market growth during the forecast period. Technological advancements and innovations like integrating advanced technologies such as augmented and virtual reality in the Europe B2B eCommerce market. Growth in internet penetration across the region and strategic initiatives adopted by the market players are expected to significantly contribute to the growth of the B2B eCommerce market across the region.

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The Europe B2B eCommerce market growth evaluation includes the study of Spain, Germany, Italy, United Kingdom, France, and Rest of Europe. In the United Kingdom, the growing penetration of digital buyers coupled with a range of strategic initiatives taken by the market players across the region and the presence of key market players are some of the major factors which are expected to contribute to the growth of the United Kingdom B2B eCommerce market during the forecast period.

Strategic initiatives taken by the market players across Germany, opening and expanding new business-to-business eCommerce marketplaces and websites, etc., are some of the major contributing factors toward the growth of the B2B eCommerce market in Germany during the forecast period. Moreover, local merchants are expected to be able to build, grow, and scale B2B businesses internationally while leveraging industry-leading omnichannel capabilities for the marketplace.

The Europe B2B eCommerce market is segmented by payment mode and product type. Market by payment mode entails credit and debit cards, digital/mobile/e-wallets, cash on delivery, bank transfers, and other payment modes.

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 Kompass, Klarna, etc.

Kompass International is a France-based company that operates an electronic business-to-business directory and enables companies to find their customers as well as suppliers through its tools and its international data platform. The company was founded in 1947 and developed sales implementation and smart marketing solutions, leveraging a network of more than 500 people deeply rooted in over 75 countries across the globe.

The Kompass brand’s products, goods, and services are recognized worldwide for their reliability in developing business contacts. The Kompass International database currently contains information on about 45 million companies in 75 countries, and the company is headquartered in Sevres, France.

In the construction industry, Kompass entails categories like civil and marine engineering contractors, furniture and linen hardware, cutlery and tools, etc.

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