Online B2B marketplaces a $200 billion opportunity by 2030, says report
The growth is currently driven by four factors — increased digital adoption, mature digital infrastructure, favourable regulatory policies, and a conducive cross-border environment, according to the Bengaluru-based venture capital firm. Examples of the key drivers included e-commerce, logistics and payments systems such as Unified Payments Interface (UPI), Open Network for Digital Commerce (ONDC), Account Aggregators, and Open Credit Enablement Network (OCEN), the report said.
Other examples included regulatory frameworks around Goods and Services Tax (GST), Trade Receivables Discounting System (TReDS), and Production Linked Incentive (PLI) for manufacturing, the report added. “Any business that functions as an agency today and is serving other businesses is an opportunity to create an internet- and online-led B2B marketplace and services,” Anant Vidur Puri, partner, BVP told ET in an interaction.
While the B2B portion of the economy is estimated at $2.5 trillion in 2023, the report shows that the penetration of e-commerce in this segment is just 1%, far behind the United States, which is at 18%, United Kingdom at 20% and China at 25%. Further, BVP identified three kinds of opportunities emerging in the B2B marketplaces domain – product marketplaces, service marketplaces, and marketplace infrastructure startups.
On the products side, solutions comprise full-stack online marketplaces that connect buyers and sellers of physical goods while also providing relevant services such as assortment, quality assurance and logistics. Examples here included Fashinza, Moglix, Zetwerk, DeHaat, Infra.market and PharmEasy.
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