Forrester today released a new forecast on the US B2B eCommerce industry, revealing that it will total $889 billion by the end of 2017 and will have a compound annual growth rate (CAGR) of 7.4%, bringing its value to $1.2 trillion by 2021.
With Forrester estimating that the total percentage of B2B buyers who research their purchases online will rise from 38% to 55% over the next four years, Analyst Andy Hoar says that the most successful B2B companies will prioritize their buyers’ experience across channels, focusing on creating more omnichannel customers.
In terms of specific industry growth, Forrester found that durable goods will be the fastest-growing segment, which includes motor vehicle/motor vehicle parts and supplies; electrical/electronic goods; and machinery, equipment, and supplies. Drugs/druggist sundries and electrical/electronic goods will both see the highest percentage — 17% — of their total commerce come from digital sales by 2021.
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