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Future of Online B2B Marketplace



According to latest research, it is expected that till 2020, global online B2B marketplace will reach at $6.7 trillion which is the twice of the estimated B2C market potential currently. China is expected to emerge as the largest online B2B market, with an estimated potential of $ x trillion by 2020, closely followed by the United States, with an estimated online B2B market value of $ x trillion.

The most important contributor to such an awesome growth is the manufacturing sector. In the United States and the United Kingdom, it is playing its role widely and firmly. In these two regions over x % of the total B2B transactions is generated by manufacturing industries: where the top section of this industry which holding the transactions online are automotive, pharmaceutical, and logistics.

As the proliferation is now holding rapidly over the connected devices and connectivity, it is also renovating the traditional business practices into the online B2B Marketplace. In USA and UK, the Governments are doing surveys on national business activities to understand the chances of web capabilities of small businesses and medium-sized businesses. The Mega Trend of Connectivity and Convergence enhanced the use of mobile channels in the B2B operations of large businesses. Through the estimated survey, the online B2B marketplace has revealed nearly 90% increase in visits from mobile devices.

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At the online B2B marketplace, the average is increase in the term of order value of the products and reduction of working costs. The online B2B marketplace is dominated by industry-sponsored marketplaces and low-cost Internet platforms and joining the value proposition of collective bargaining/selling. In recent years, many businesses have started focuses on their own independent online B2B marketplace to drift specific services like aftermarket or lead generation.

Recent year, we have seen that now the businesses are buying more than selling online. While if 80% of businesses are looking for online platforms for buying goods, less than 22 % have espoused them to sell their own products. So it means that in coming years, there is need for more seller-driven B2C-type open public networks like Alibaba and Amazon, which are good at visibility and storefront capabilities. The future of B2B online marketplace is expected to become more easy and accessible with the help of social media because social media is now making inroads into online retailing business. Many companies who also have online selling platform have created their appearance on social media as well.  With this undisputed reach and double effect of social media now the online B2B Marketplace are in reach. IN UK more than 70% of small, big and medium size businesses use social media vigorously in selling and purchasing goods online.

The online B2B marketplace is a platform with less operational costs, more than that very new and extra source of getting income for large manufacturers. Most of the manufacturers are charging a premium for exclusive membership then they get access to the private groups and platforms. Through such models of online shopping and selling, companies are able to generate much revenue from each B2B deal.



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