Bessemer Venture Partners (BVP) projects that the online-first and technology-enabled business-to-business (B2B) marketplaces category of startups will present a massive $200 billion market opportunity by 2030. The growth of this sector is fueled by increased digital adoption, mature digital infrastructure, favorable regulatory policies, and a conducive cross-border environment.
E-commerce, logistics, and payment systems including Unified Payments Interface (UPI), Open Network for Digital Commerce (ONDC), Account Aggregators, and Open Credit Enablement Network (OCEN) are some of the main factors influencing in this expansion. Significant roles are also played by the regulatory frameworks governing the Goods and Services Tax (GST), Trade Receivables Discounting System (TReDS), and Production Linked Incentive (PLI) foru manufacturing.
Product marketplaces, service marketplaces, and startup marketplace infrastructure companies are the three categories of opportunities that BVP recognises in the B2B marketplace space. Through these platforms, companies can access tangible products, pertinent services, and technological tools for payments, logistics, and warehousing.
The paper underscores the necessity of a software layer for seamless experiences and uniform procedures and emphasises a verticalised strategy to deepen supply building. Furthermore, according to BVP, 15 million Micro, Small, and Medium-Sized Enterprises (MSMEs) are anticipated to expand their operations online by 2027.
While the B2B portion of the economy is estimated at $2.5 trillion in 2023, there is significant potential for further growth in the online B2B marketplace sector, which currently lags behind countries like the United States, the United Kingdom, and China in terms of e-commerce penetration.