Global B2b E-commerce Places Power Tools Accessories Market Size & Outlook

B2b E-commerce Marketplaces Power Tools Accessories Market Insights

• The b2b e-commerce marketplaces power tools accessories market worldwide generated a revenue of USD 9,209.3 billion in 2023.
• The market is expected to grow at a CAGR (2023 - 2030) of 20.2% to attain a revenue of USD 33,317.4 billion by 2030.
• In terms of segment, intermediary-oriented accounted for a revenue of USD 5,518.9 billion in 2023.
• In 2023, the Asia Pacific accounted for the largest revenue share of b2b e-commerce marketplaces power tools accessories market.
  

  Market Dynamics
  
  

  The adoption of smartphones and tablets is proliferating across all age groups worldwide. The adoption of smartphones is massively

  increasing, particularly in developing economies such as Brazil, Mexico, India, and other countries. These countries have witnessed a

  remarkable adoption from 2015 till now. While India still has a low smartphone penetration rate of 30%, the ownership of the smartphone

  is increasing among many young adults.

  Furthermore, the mobile industry has witnessed a significant shift from traditional mobile devices to smartphones owing to the growing

  consumer emphasis on high-speed mobile networks coupled with digital transformation. For instance, according to Ericsson, by 2023,

  smartphones are expected to account for 95.0% of the total mobile data traffic. Similarly, according to GSMA, smartphones are expected to

  emerge as the leading and most popular mobile devices used by individuals in all the regions by 2020, with the adoption of smartphones

  across the globe anticipated to reach 80% by 2025.
  
  

  Misalignment between departments has been an old challenge, and disparate data systems affect the efficiency of a business extensively.

  With rapid adoption of mobile devices across these systems, departments would be better aligned. For example, marketing content can be

  generated, managed, and updated in content management system (CMS) by the marketing department. At the same time, it will enable the

  sales team to update content on their mobile devices via mobile application and have the updated content for prospects and customers in

  desired formats. Thus, owing to aforementioned factors, organizations are rapidly switching to smartphones, which is expected to positively

   

  impact the market.