They say there are two things certain in life, and these are death and taxes. In B2B ecommerce, there is another certainty: the number of B2B marketplaces will continue to proliferate.
Today, there are more than 500 such marketplaces opening for or already in business in numerus industries, according to data in the newly published 2023 B2B Marketplace 500 report from Digital Commerce 360. Within the next two years, there will be as many as 750 B2B marketplaces and within five years more than 1,000, according to Digital Commerce 360 projections.
That is because the term is not a one-size-fits-all ecommerce channel. There are several models serving various market segments. These range from commercial platforms such as Amazon Business to marketplace platforms that bring together niche buyers and sellers in specific markets or segments.
As the market continues to expand, several key trends will continue to guide fast evolution and market growth, according to the 2023 B2B Marketplace 500.
Trends among B2B marketplaces
- The list of 500 vertical marketplaces will continue to grow.
- Existing marketplace operators will continue to add features and functions rapidly to convert first-time buyers and sellers into loyal and repeat customers.
- The commercial marketplaces dominated by Amazon Business will drive growth across the broader movement.
- Public and private investors are getting more bottom-line focused on B2B marketplace deals.
- First-time marketplace builders are incurring higher costs to build and launch their platforms. They are taking longer to generate a return on investment.
- Marketplaces will remain the fastest growing B2B sales channel.
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