PUBLISHER: Inkwood Research | PRODUCT CODE: 1122734
PUBLISHER: Inkwood Research | PRODUCT CODE: 1122734
The India B2B eCommerce market is estimated to record a 25.43% CAGR during the forecast years 2022-2028. Information-based strategies, AI business models for end-to-end tracking, and a rapid surge in consumption volume drive market growth in the country.
Increasing penetration of mobile phones, digital transformation across industries, etc., are some of the major factors expected to contribute to the India B2B eCommerce market growth during the forecast period. Increased usage of mobile platforms offers app-based solutions for customers' problems. The total volume of smartphone shipments across India was nearly 149.7 million in 2020. As per industry data, in India, the smartphone penetration rate was 54% in 2020, which is expected to reach 96% in 2040. This growth is expected to propel the India B2B eCommerce market.
Also, there has been growth in digital transformation. AI-powered business models are replacing traditional business models across India, as they can track businesses end-to-end. Further, business owners know their consumer preferences based on where they are from, what they have previously purchased, what age group they are in, etc. This information helps them take significant strategic initiatives across the country.
Some key players operating in the market are: Flipkart, IndiaMART InterMESH LTD, Amazon.com Inc, etc.