How much is the Collaborative Commerce industry worth? September 20, 2021
Collaborative commerce refers to transactions between businesses (B2B), which involves a trading segment or community pertaining to a particular industry. The collaborative commerce allows collaboration between two or more than two buyers, business parties and sellers with the application of software tools with their supply chain and distribution. The collaborative commerce is also considered as an aspect of the supply chain management. The introduction of collaborative commerce provides companies to flexible integration of partners. This enables midsized companies to participate in electronic trade group without having to invest large sum of money. Further, collaborative commerce could be described as business interactions which are electronically enabled among the internal personals of enterprises, in a particular trading community for the customers in the business and also the partners who are involved in the business. The application of collaboration commerce provides optimization of distribution channel and supply to capitalize on the global economy and make better use of the technology.
This is key factor in driving the collaborative commerce market. Further the application of collaborative commerce provides organizations with opportunity to become more competitive and profitable. Collaborative commerce provides joint platform for creating, managing and administer real time data. The collaborative commerce provides and promotes fresh opinions from competitors, customers and suppliers. This provides integration of a wide range of business, and helping them shift their focus from sales and production. The above mention factor is thus driving the maker further over the next few years. It is expected that collaborative commerce might be able to replace E-commerce over the next few years, thus driving the next stage of development in electronic business solutions.
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The collaborative commerce market by component has been segmented into capacity collaboration, order collaboration, transportation collaboration and inventory
collaboration. The order collaboration segment in the collaborative commerce market segmented by component is expected to be the largest contributor in the collaborative commerce market in terms of revenue. Transportation collaboration is expected to grow at the fastest rate over the next few years. Inventory collaboration flowed order collaboration segment in the collaborative commerce market segmented by component in terms of revenue.
The collaborative commerce market by market type has been segmented into consumer electronics, apparel, machinery, home and garden, automobiles and motor cycles, beauty and personal care, healthcare and medical products and sports and entertainment. The apparel segment in the collaborative commerce market segmented by market type led the market in terms of revenue. The consumer electronics segment followed the apparel segment in terms of revenue. Most people these days prefer buying appeals with the help of e-commerce, thus having high penetration and knowledge about this segment. Further, beauty and personal care products are expected to grow at a significant rate over the next few years.
Geographically the global collaborative commerce market could be broadly segmented into North America, Middle East and Africa, Europe, Asia Pacific and Latin America. North America led the collaborative commerce market. High adoption of ecommerce is driving the demand for collaborative commerce market as collaborative commerce is expected to replace the e-commerce market. The collaborative commerce provides added advantage for the manufacturers and retailers thus driving more users to adapt to collaborative commerce from e-commerce. Europe followed North America in the collaborative commerce market in terms of revenue. Asia Pacific is expected to grow at the fastest rate over the next few years in the collaborative commerce market.
Some of the key players operating in the collaborative commerce market include Microsoft SharePoint, Cisco WebEx Connect, IBM Lotus Connection, Zoho Apps, Google Apps, Adobe, Socialtext, MindTouch, Jive Software and Zimbra Collaboration Suite among others. There is intense competition among the key
players operating in the collaborative commerce market. It is necessary for the players to have strong and highly differentiated product line which features best-in-class and user friendly interface.
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