The way India’s B2B sector used to work has been transformed by technological advancements. Indian companies are increasingly investing heavily in new technologies such as artificial intelligence (AI), big data, and virtual reality (VR) to give their customers better services and solutions.
Indian B2B brands are delivering top-notch services and business tools to corporations all around the globe by developing solutions that meet global measures. In reality, India’s B2B business is booming, with Indian B2B firms accounting for almost 43 percent of the country’s unicorns.
The digital transformation of organizations, including enterprises, financial institutions, hospitals, small businesses, government, and others, has been linked with the B2B industry’s current success in India. Every company is adding efficiencies to the B2B supply chain through its solutions, leveraging better data and automated procedures.
How Does B2B Marketplace Make Revenue?
A B2B marketplace serves as a channel for the sale of goods and services as well as a link between businesses. In the same way that Amazon is for customers and sellers. Every transaction that takes place on the platform is subject to a commission.
RELATED: D2C Brands Future in India
Today, we’ll look at the top B2B markets in India for 2022 and some up-and-coming businesses with the potential to disrupt their respective sectors in the near future.
India’s B2B Industry’s Growth Trends
Change is unavoidable in the field of cybersecurity. As a result, the B2B sector cannot afford to ignore the current technological transformation. And, because everything nowadays is done digitally, organizations must defend themselves from cybercrime. Threatsys, HaltDos, and WiJungle are Indian cybersecurity startups that protect businesses from online criminals. They provide proactive risk assessment, identification, and remediation of any upcoming threats.
According to NASSCOM -DSCI, the Indian cybersecurity services sector is predicted to develop at a CAGR of around 21% to reach $13.6 billion by 2025.
E-commerce in Business to Business Sector
In recent years, India has seen a slew of B2B e-commerce businesses develop. Now, Indian entrepreneurs are taking use of the cutting-edge technology provided by these companies and conducting business from the comfort of their own homes using their cellphones.
These B2B e-commerce businesses have used technology to eliminate traditional B2B commerce inefficiencies by implementing better digital supply chains and providing higher capital efficiency.
Many Indian firms are attempting to automate the wholesale supply chain in India, including Udaan, ShopX, Ninjacart, Indiamart, and Moglix. The segment will continue to increase as more small business owners use the capabilities provided by eB2B players, such as digital cataloguing, online payments, and logistics.
Logistics Solutions & Tech
B2B logistics companies are developing technology and solutions to satisfy the needs of large supply chain and logistics organizations, thanks to the rising retail and e-commerce segments.
These logistics firms offer every available tool to give end-to-end optimization, such as supply chain solutions, ensuring timely delivery of items, and monitoring concerns regarding tracking, shipping, warehousing, and inventory globally, from warehousing management to demand forecasts. India’s supply chain sector, which was severely damaged by COVID-related interruptions, has begun to gain traction as a result of these tech-enabled logistics enterprises.
ALSO READ: Growth of D2C Brands in India
The landscape is rapidly moving, and prominent e-commerce enterprises are increasingly turning to third-party logistics providers. By providing online on-demand logistics services, startups are increasing efficiency in the current unorganized intra-city sector.
With businesses leveraging tech to provide same-day delivery, cost and delivery time reductions, time-window/slotted delivery, numerous payment choices, simplified return logistics, and 24-7 visibility, the use of logistics tech solutions will continue to expand.
Startups Penetrating the B2B Ecosystem
Established in 2012, the parent company of Shiprocket has seen multiple pivots over the years. Its current avatar works with courier firms in India and connects merchants, consumers, and supply-chain partners across thousands of pin codes worldwide.
Apart from shipping services, Shiprocket also offers a technology stack to assist retailers in integrating their online stores such as Shopify, Magento, WooCommerce and Zoho for workflow, inventory, and order management.
The logistics aggregator backed by Zomato has recently acquired B2B logistics company Rocketbox.
Pidge has newly launched its services in the Chandigarh Tricity area and has promised same-day delivery to its customers, even if the pickup is from other geographically nearby cities. It leverages its micro-fulfilment centres, identified as ‘Pidge Houses‘, to cater to the necessities of its business partners for faster and better-controlled deliveries, the statement declared.
Bijnis (formerly known as ShoeKonnect), Founded in 2015 by Siddharth Vij, Chaitanya Rathi, Siddharth Rastogi, and Shubham Agarwal, the company focuses on facilitating a digital transaction layer between manufacturers and retailers in the largely unorganized categories of footwear, fashion, and accessories. Bijnis currently enables 400+ manufacturers to serve 60,000+ retailers across 700 (out of 729) districts in India.
Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary founded the Bengaluru-based company in 2018. The company connects mid-to-large original equipment manufacturers from India and Southeast Asia with businesses in need of customised products and machine parts.
The startup claims to have formed alliances in industries as diverse as precision parts, capital goods, and consumer goods. Its product categories include:
- Prefabricated structures for infrastructure projects
- Sheet metal for electric vehicles
- Precision parts for aerospace
- Consumer durable assembly lines
Naveen Bindal, Hemant Vishnoi, and Yadvendra Tyagi launched EnKash with experience working with significant payment processing businesses, banks, and fintechs. To launch its card issuance business, the team collaborated with SBM India and has agreements with ICICI Bank, Axis Bank, Kotak Bank, HDFC Bank, and State Bank of India, to mention a few. The squad formed a strategic relationship with Mastercard in December 2020.
With over 70,000 establishments and over 500,000 issued cards, the startup promises to process annualized expenditures worth around $2 billion on its network. Mayfield and Axilor Ventures had previously invested $3 million in the company as part of its Series A investment in 2019. Axilor Ventures provided seed funding for the startup.