B2B stands for Business-to-Business and refers to the exchange of goods and services between businesses rather than between businesses and consumers.
The significance of B2B lies in its importance to the economy as a whole. B2B transactions account for a significant portion of global trade and contribute to the growth of many industries, including manufacturing, logistics, and technology.
One use case of B2B is in supply chain management and logistics. B2B transactions are critical for the management of supply chains, as businesses need to exchange information, track orders, and coordinate deliveries to ensure that goods are delivered on time and in good condition. Manufacturing and distribution, professional services & consulting and information technology & software are some other use cases of B2B.