Amazon’s business-to-business (B2B) ecommerce marketplace, Amazon Business, recorded over $10 billion in annualized sales as of September 2018 and is estimated to bring in $52 billion in sales and $31 billion in revenue in 2023, according to RBC Capital Markets. This represents a steep increase for the segment, which offers a marketplace for firms along with other business-focused products and tools. B2B ecommerce is estimated to have reached over $1 trillion in the US in 2018, while B2C ecommerce sales only amounted to $524 billion last year. There are several reasons why Amazon Business might succeed in the B2B ecommerce market in the near future – it is estimated to be growing faster than other key Amazon segments. RBC estimates that Amazon Business’ compound annual growth rate (CAGR) over the last 3 years was 115%, which is far faster than Amazon’s retail business’ performance of 28% and Amazon Web Services’ 48% improvement over the same period.
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