The B2B services review platforms market is forecasted to expand at 13.8% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 278.3 million in 2023.
The market is projected to observe solid growth going forward owing to surging demand for efficient options to gather and host verified reviews of different B2B service providers. Further, the increasing adoption of cloud-based B2B service review platforms for the reviews of reliable and prestigious service providers such as advertising, consultants, and marketing services is augmenting the market growth.
Increasing internet penetration, along with the adoption of compatible devices, is also expected to be key propellers for the market in focus. B2B services have multiplied in number over the historical period. With more service providers and businesses opening up in the market, the need for B2B service review platforms is expected to observe an upsurge.
THE B2B services review platform collects authentic and verified reviews from the confirmed users of certain solutions/ services. The platform further assists businesses in executing reviews and different information or content to promote their respective solutions in new markets and to possible customers.
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The demand for B2B services review platforms is expected to pick up significant momentum from SMEs over the forecast period. This can be attributed to the availability of free or upgraded versions of these platforms with multiple affordable packages. Moreover, the market, however, might be strangled by data security issues, upfront costs of on-premises platforms, issues with solution interface, and other factors.
Top Highlights from the FMI’s Analysis of the B2B Services Review Platforms Market:
- North America’s B2B services review platforms industry is estimated to generate significant revenue over the forecast period. In 2022, the region accounted for 28.8% market share.
- The United States B2B services review platforms industry held a prominent market share of 16.5% in 2022.
- Europe’s B2B services review platforms industry is likely to win over the 21.3% market share in 2023.
- Germany’s market share recorded a 7.6% market share in 2022.
- Japan’s value share in 2022 represented about 4.3% market share.
- Australia’s B2B services review platforms industry grabbed a market share of 3.5% in 2022.
- China’s B2B services review platforms industry is projected to expand at a CAGR of 15.5% over the upcoming period.
- India’s B2B services review platforms industry is expected to represent a market share of 16.5% over the upcoming period.
- The United Kingdom B2B services review platforms industry is projected to expand at a CAGR of 12.3% in the upcoming period.
- Based on type, the on-premise segment is projected to acquire more than 56.5% market share in the forecast period.
- Based on applications, the large enterprises segment is expected to gain more than 61.2% over the forecast period.
Key Developments Taking Place in the Market
- G2 announced G2 investor solutions in December 2021 for profound SaaS opportunities for investors.
UpCity released a redesign of its marketplace in February 2022, thus creating a modern appearance and texture to assist businesses in searching for the best service provider for their requirements.
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Key Segments Covered in B2B Services Review Platforms Industry Survey
By Type:
- On-Premises
- Cloud-Based
By Application:
- Large Enterprises
- SMEs
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East & Africa
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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