B2B eCommerce Statistics (2024): Sales, Market Size & Growth

Highlights. The worldwide business-to-business (B2B) e-commerce market is worth an estimated $30.42 trillion in 2024; projections indicate it will grow to $66.89 trillion in 2029.

From 2023 to 2024, the value of the global B2B e-commerce market increased 16.3%.
Projections indicate the market’s compound annual growth rate (CAGR) from 2024 to 2029 will average 17.1%.
The U.S. B2B e-commerce market is worth an estimated $4.04 trillion in 2024; projections indicate it will grow to $7.53 trillion in 2029.
The average B2B company derives 82% of its revenue from remote (i.e., not in-person) sales.
Amazon Business is the largest B2B online marketplace, generating $35 billion in 2023.

Bar Graph: Global B2B eCommerce GMV (gross merchandise volume) in trillions from 2019 ($13.3) to 2022 ($22.2) with projections to 2029 ($66.9) according to Agilintel Research, Statista

Global B2B eCommerce Statistics

Growth continues at a slower rate after huge gains in 2021 and 2022.

In 2023, the global B2B e-commerce gross merchandise volume (GMV) totaled $26.2 trillion, up 18.0% year-over-year (YoY).
From 2020 to 2021, the worldwide B2B GMV grew 23.7%.
From 2016 to 2019, the global B2B GMV grew 50.9%, a CAGR of 14.7%.
Asia is home to the world’s largest B2B e-commerce market, representing 78.0% of the global GMV in 2023.
The United States represents a declining share of global B2B e-commerce, with 13.8% of the market in 2023 (down 3.06% from 2022).

Line Graph: Global B2B eCommerce GMV Annual Growth from 2017 (11.6%) to 2022 (20.5%) with projections to 2026 (17/5%) according to Agilintel Research, Statista

U.S. B2B eCommerce Statistics

B2B eCommerce growth in the U.S. has only declined during or in the wake of an economic downturn, though 65% of B2B companies offer fully digital service options.

U.S. B2B e-commerce sales are up 12.1% in 2024.
B2B e-commerce sales growth in the U.S. from 2022 to 2023 (14.4%) outpaced growth from 2023 to 2024 by 18.6%.
The U.S. share of global B2B e-commerce is 13.3% in 2024 (down 3.56% from 2023).
In the U.S., 74.6% of e-commerce is B2B; the remaining 25.4% is retail e-commerce or business-to-consumer (B2C).
In the U.S., manufacturers and merchant wholesalers* will make a total of $8.45 trillion in e-commerce sales in 2024; in 2029, sales will reach $10.2 trillion.

*A majority of manufacturers’ and merchant wholesalers’ revenue comes from B2B sales.

Line Graph: U.S. B2B eCommerce Sales Annual Growth from 2012 (11.1%) to 2021 (15.7%) with projections to 2024 (4.7%) according to the U.S. Census Bureau

Regional B2B eCommerce Statistics

Asia-Pacific nations (APAC) by far the largest share of the global B2B GMV (78.0%).

The APAC B2B e-commerce market is worth an estimated $23.7 trillion in 2024, equivalent to 421% more than the next-largest global market (North America).
From 2020 to 2022, the APAC B2B e-commerce market grew 49.1%, just 0.82% faster than the North American market.
North America’s B2B e-commerce market is worth an estimated $4.55 trillion in 2024, equivalent to 15.0% of the global market.
The North American B2B e-commerce market is worth 122% more than Europe’s.
From 2020 to 2022, the North American B2B e-commerce market grew 48.7%; this is 6.53% slower than growth in the European market.
Europe’s B2B e-commerce market is worth an estimated $2.05 trillion in 2024 or 6.3% of the global market.
From 2020 to 2022, the European market grew 52.1%.
The rest of the world’s estimated share of the global market is relatively small at a collective 0.3% or $91.3 billion.

Bar Graph: U.S. B2B eCommerce Sales Revenue in trillions from 2019 ($6.80) to 2022 ($7.76) with projections to 2029 ($10.3) according to the U.S. Census Bureau

B2B Marketplace eCommerce Statistics

Online marketplaces and platforms that mimic familiar consumer retail websites or portals are growing in popularity among B2B buyers worldwide.

From 2020 to 2023, U.S. B2B marketplace sales increased 820%.
U.S. B2B marketplace sales represented 6.22% of all B2B sales in 2023, this is a 459% increase over 2020 (1.11%).
88% global B2B buyers make at least one purchase on a B2B marketplace.
35% of global B2B buyers make at least half of their purchases on a B2B marketplace(s).
26% or just over 1-in-4 B2B buyers make between 50% and 74% of their purchases on a B2B marketplace(s); 9% make 75% or more of purchases on a marketplace(s).

Bar Graph: U.S. Share of Global B2B eCommerce from 2016 (65.9%) to 2022 (35.0%) according to the U.S. Census Bureau, Agileintel, and Statista with projections to 2024 (27.8%)

B2B eCommerce Buyer Statistics

B2B buyers were twice as likely to order online in 2020 than they were in 2019, and numbers haven’t dwindled.

90% of B2B buyers are willing to go to a competing supplier with better online buying capabilities.
87% of B2B buyers will pay more to work with a supplier that has an “excellent” e-commerce portal.
46% of B2B buyers use social media to research business solutions.
B2B are 30% more likely to prefer mobile devices to make purchases than they were prior to 2020.
Also since 2020, mobile ordering has increased 250%.

Pie Chart: U.S. B2B Business' Most Effective Channels, self-reported to McKinsey

B2B eCommerce Channel Statistics

U.S. businesses derive an equal amount of sales from e-commerce and in-person interactions (both 18%), but 82% of sales are derived from remote interactions (i.e., not in-person).

18% of U.S. B2B sales revenue is derived from general e-commerce and 18% is from in-person sales.
14% of sales are via email, and 13% are via online chat.
13% of sales are via video conference and via phone, respectively.
The remaining 11% of sales are via other channels, such as fax.
35% of American B2B businesses identified e-commerce as the most effective sales channel in late 2021; 23% identified in-person as most effective.

Pie Chart: U.S. B2B Revenue per Sales Channel according to McKinsey

B2B vs. B2C eCommerce Statistics

Most e-commerce revenue comes from B2B sales as opposed to consumer retail or business-to-consumer (B2C).

In 2024, the global B2B e-commerce market value will exceed that of the B2C market by 380%.
The annual worldwide B2B e-commerce GMV growth outpaces B2C by 84.6% in 2024.
In the U.S., 2024 B2B e-commerce is worth 194% more than B2C.
The U.S. B2B e-commerce market will grow 14.8% faster than the B2C market in 2024.

B2B + B2C eCommerce Statistics

Statistics indicate that B2B e-commerce sales and digital adoption will continue to grow at a faster rate globally than they do within the U.S.

B2B and B2C global e-commerce revenue will total $36.8 trillion in 2024.
B2B sales represent 82.8% of this combined total.
Projections indicate that total worldwide B2B and B2C e-commerce will be worth over $48 trillion in 2026; by 2029, the total will exceed $75 trillion.
In 2024, U.S. B2B and B2C e-commerce is worth a combined $5.41 trillion; the combined market will be worth a projected $9.85 trillion in 2029.
U.S. B2B sales represent 74.6% of the combined total (B2B+B2C).

Top U.S.-Based B2B Brands

The United States is home to 6 of the world’s 10 most valuable B2B brands, 4 of which are online and/or tech-based.

The most valuable B2B brand in the world, Microsoft, is headquartered in the United States.
Also in the global Top 10 are State Grid (China, Utilities), Shell (United Kingdom, Oil & Gas), ICBC (China, Banking), and Aramco (Saudi Arabia, Oil & Gas).
Deloitte (US, Professional Services) is considered the world’s strongest B2B brand on the 100-point Brand Strength Index, with a top score of 90.6 measured against 5,000 other brands.

Microsoft

Microsoft’s B2B brand value represents nearly 65% of the company’s total brand value.

Microsoft’s B2B brand is valued at $220.4 billion.
64.7% of Microsoft’s total brand value ($340.4 billion) is attributed to B2B.
9.38% of Microsoft’s total enterprise value ($2.35 trillion) is attributed to its B2B brand value.
Microsoft’s BSI score is 85.6, making it the 15th strongest among the Top 100 B2B brands worldwide.
Microsoft is the strongest and most valuable B2B brand in its sector (Internet & Software).

Amazon

Amazon’s B2B brand value represents nearly ¼ of the company’s total brand value.

Amazon’s B2B brand (i.e., Amazon Business) is worth $71.1 billion.
22.5% of Amazon’s total brand value ($308.9 billion) is attributed to B2B.
4.28% of Amazon’s total enterprise value ($1.62 trillion) is attributed to its B2B brand value.
Amazon’s BSI score is 85.1, making it the 18th strongest among the Top 100 B2B brands worldwide.
Amazon is the strongest and most valuable B2B brand in its sector (Retail).

Oracle

In the same sector as Microsoft, Oracle is strictly B2B only.

The Oracle brand is worth $53.1 billion.
100% of Oracle’s total brand value is attributed to B2B.
13.4% of Oracle’s total enterprise value ($395.8 billion) is attributed to its B2B brand value.
Oracle’s BSI score is 82.8, making it the 28th strongest among the Top 100 B2B brands worldwide.
Oracle is the second-most valuable B2B brand in its sector (Internet & Software).

UnitedHealthcare

UnitedHealthcare is one of 4 Healthcare Service B2B brands in the Top 100.

The UnitedHealthcare brand is worth $47.6 billion.
100% of UnitedHealthcare’s total brand value is attributed to B2B.
15.1% of UnitedHealthcare’s total enterprise value ($316.2 billion) is attributed to its B2B brand value.
UnitedHealthcare’s BSI score is 79.0, making it the 51st strongest among the Top 100 B2B brands worldwide.
UnitedHealthcare is the most valuable B2B brand in its sector (Healthcare Services).

NVIDIA

NVIDIA is the fastest-growing B2B brand in the world.

The NVIDIA is worth $44.5 billion.
100% of NVIDIA’s total brand value is attributed to B2B.
3.88% of NVIDIA’s total enterprise value ($1.15 trillion) is attributed to its B2B brand value.
NVIDIA’s BSI score is 81.3, making it the 36th strongest among the Top 100 B2B brands worldwide.
NVIDIA is the strongest and most valuable B2B brand in its sector (Semiconductors).

Deloitte

Deloitte is the strongest B2B brand in the world.

The Deloitte brand is worth $41.8 billion.
100% of Deloitte’s total brand value is attributed to B2B.
32.0% of Deloitte’s total enterprise value ($130.6 billion) is attributed to its B2B brand.
Deloitte’s BSI score is 90.6, making it the strongest B2B brand worldwide.
Deloitte is the strongest and most valuable B2B brand in its sector (Commercial Services).

These data and insights were compiled by the Capital One Shopping team based on publicly available data.

B2B eCommerce Statistics