With the emergence of digital technologies and growing e-commerce across consumer industries, the B2B sector is following suit demonstrating extensive change in how industries are functioning. Moreover, share of revenues from e-commerce is continuously growing across the sectors with developing economies leading in digitalised business revenues. The US, France, Canada, Germany and South Korea lead in revenues among the developed economies.
As digital technologies and portable devices are reshaping how consumers and businesses shop and operate, the opportunities provided by the Industry 4.0 revolution, big data analytics and cloud computing are setting foundation for e-commerce growth across all B2B sectors. USA, France, Canada, Germany and South Korea to lead in digital revenues among the developed economies
While agricultural operations are already taking advantage of digital technologies in planting, cultivating, crop and livestock production, farmers still use the internet more for supply orders rather than revenue generation. Nevertheless, online farming produce trading platforms are emerging and proving to be successful in both developing and developed economies.
With the emergence of micro grids and rise in renewable electricity production, utility providers are forced to re-evaluate and digitalise their current infrastructure. Meanwhile, the oil and gas sector, is focusing on IoT opportunities for improved rig management systems.
South Korea and the US continue to hold strong positions in e-commerce revenue generation. With automotive, machinery and high-tech goods industries’ digitalisation of supply chains, component and raw material supplying industries are adjusting demonstrating higher online revenue shares in the manufacturing sector.
Transformation of service industries mirroring the trends of digitalisation in the manufacturing sector. As a result, IT, telecommunications and logistics providers are leading in e-commerce growth among the service providers.
Omnichannel distribution, blockchain systems and IoT, along with robots and sensors are facilitating the rise of the Industry 4.0 revolution and emergence of smart factories. Countries with strong digitalisation support policies are facilitating larger B2B e-commerce growth and stronger competition in the global arena.
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