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KEY FINDINGS
The Asia-Pacific B2B eCommerce market is expected to register a CAGR of 22.74% over the forecast period, 2023-2032. The market growth is attributed to the increasing number of tech hubs and innovation centers that drive B2B eCommerce innovation.
MARKET INSIGHTS
Japan, India, China, Australia & New Zealand, Vietnam, Thailand, South Korea, Indonesia, and Rest of Asia-Pacific are evaluated for the Asia-Pacific B2B eCommerce market growth assessment. As per a study conducted by the Agency for Small and Medium Enterprises (SMEs) and Emerging Firms, South Korea experienced an almost 20% expansion in its B2B eCommerce domain in 2020, even in the midst of the COVID-19 pandemic. This growth positioned the country sixth globally in this regard. Projections indicate that this market will continue to expand over the upcoming years, driven by increased smartphone and internet penetration, online payment adoption, digital marketing, and related factors.
South Korea boasts a robust digital culture, and its populace demonstrates a high level of comfort with technology. The nation's businesses have readily embraced digital transformation, leveraging online platforms for various B2B activities like transactions, procurement, and managing supply chains. This widespread integration of digital technologies creates an environment conducive to fostering further growth in B2B eCommerce.
In Vietnam, important progress has been made by major participants throughout the area, and these advancements are projected to drive the expansion of the B2B eCommerce market in the anticipated period. For instance, in 2022, Kilo, a Vietnam-based marketplace that facilitates connections between suppliers (comprising wholesalers and distributors) and retailers, revealed its intentions to gain 1 million businesses by the conclusion of the financial year 2023. At present, the B2B platform has amassed around 30,000 wholesalers and retailers operating in 42 cities across Vietnam.
COMPETITIVE INSIGHTS
Some of the eminent companies in the market are Alibaba Group Holding Ltd, IndiaMART InterMESH Ltd, DIY Trade, etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation caters to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments