B2B marketers often ask me: “How big is the total global B2B market?” Or put another way: “How much do businesses spend in total buying products and services from other businesses?” They want to know this to better understand the share of wallet for the types of products and services that they sell.
Nobody knows the absolute truth . . . but it’s HUGE. In fact, it’s twice as big as the global B2C market which is the largest component of global GDP.
Real world estimates of total global sales utilize large-scale database integration, sampling, algorithms, and interpretation. The same complex process generates estimates of total global GDP by country, but the total value of total global sales is more than two times GDP.
The global B2B market for all business-related products and services is huge. In fact, it’s twice as big as the global B2C market for all consumer-related products and services.
Total global GDP is approximately $US105 trillion, and the total global value of sales transactions is more than double that -- approximately $US220 trillion. Of total global sales, consumers purchase about $US70 trillion (B2C) while businesses (including government entities) purchase $US150 trillion (B2B).
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