[Latest] Global B2B Payments Market Size/Share Worth USD 1689.4 Billion by 2033 at a 9% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)
[220+ Pages Latest Report] According to a market research study published by Custom Market Insights, the demand analysis of Global B2B Payments Market size & share revenue was valued at approximately USD 1125.5 Billion in 2023 and is expected to reach USD 1189.8 Billion in 2024 and is expected to reach around USD 1689.4 Billion by 2033, at a CAGR of 9% between 2024 and 2033. The key market players listed in the report with their sales, revenues and strategies are American Express, Bank of America Corporation, Capital One, Mastercard, Citigroup Inc., TransferWise Ltd., Payoneer Inc., PayPal Holdings Inc., Square Inc., Visa Inc., and others.
Austin, TX, USA, Aug. 01, 2024 (GLOBE NEWSWIRE) — Custom Market Insights has published a new research report titled “B2B Payments Market Size, Trends and Insights By Payment Type (Domestic Payments, Cross-Border Payments), By Enterprise Size (Large Enterprises, Small and Medium Sized Enterprises), By Payment Mode (Traditional, Digital), By Industry Vertical (BFSI, Manufacturing, Metals & Mining, IT & Telecom, Energy & Utilities, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” in its research database.
“According to the latest research study, the demand of global B2B Payments Market size & share was valued at approximately USD 1125.5 Billion in 2023 and is expected to reach USD 1189.8 Billion in 2024 and is expected to reach a value of around USD 1689.4 Billion by 2033, at a compound annual growth rate (CAGR) of about 9% during the forecast period 2024 to 2033.”
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B2B Payments Market: Growth Factors and Dynamics
The dynamics of the B2B payments market are influenced by various factors that shape its growth and evolution. Here are the key dynamics driving the B2B payments market:
- Digital Transformation: The ongoing digital transformation across industries is a significant dynamic shaping the B2B payments market. Businesses are increasingly adopting digital payment solutions to streamline their payment processes, improve efficiency, and enhance cash flow management. The shift from traditional paper-based methods to electronic payment systems, including mobile payments and online platforms, is driving the growth of the B2B payments market.
- Technological Advancements: Advances in technology, such as blockchain, artificial intelligence (AI), machine learning (ML), and cloud computing, are transforming the B2B payments landscape. These technologies enable secure and real-time payment processing, enhance transaction visibility, automate reconciliation, and reduce manual errors. Integration of these technologies in B2B payment solutions is driving innovation and driving the growth of the market.
- Rise of FinTech: The emergence of financial technology (FinTech) companies is disrupting the traditional B2B payments landscape. These innovative startups are introducing alternative payment methods, such as digital wallets, peer-to-peer transfers, and instant payment solutions, which offer convenience, speed, and cost-effectiveness. The growing adoption of FinTech solutions by businesses is reshaping the B2B payments market and increasing competition among traditional financial institutions.
- Regulatory Environment: The regulatory landscape significantly impacts the B2B payments market. Compliance with regulations related to data protection, anti-money laundering (AML), knowing your customer (KYC), and cross-border transactions is essential for businesses operating in the B2B payments space. Regulatory frameworks, such as the Revised Payment Services Directive (PSD2) in Europe, aim to foster innovation, open banking, and promote secure and transparent payment solutions.
- Globalization and Cross-Border Transactions: The increasing globalization of businesses and the growth of cross-border trade are driving the demand for efficient and secure cross-border payment solutions. Businesses are seeking faster, more cost-effective, and transparent ways to conduct international transactions, resulting in the development of cross-border payment platforms and services. The rise in e-commerce and the expansion of supply chains worldwide further contribute to the dynamics of the B2B payments market.
- Payment Integration and APIs: The integration of payment systems with other business processes and applications is gaining importance in the B2B payments market. Application Programming Interfaces (APIs) enable seamless integration between payment platforms, accounting software, e-commerce platforms, and other business systems. This integration streamlines workflows, improves data accuracy, and enhances the overall payment experience for businesses.
- Changing Customer Expectations: Businesses and consumers alike are increasingly expecting faster, more convenient, and more secure payment experiences. B2B buyers are seeking flexible payment options, real-time transaction updates, and improved transparency. To meet these evolving expectations, businesses are adopting innovative payment solutions that cater to the changing needs of their customers.
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Report Scope
Feature of the Report | Details |
Market Size in 2023 | USD 1189.8 Billion |
Projected Market Size in 2032 | USD 1,689.4 Billion |
Market Size in 2022 | USD 1,125.5 Billion |
CAGR Growth Rate | 9% CAGR |
Base Year | 2023 |
Forecast Period | 2024-2033 |
Key Segment | By Payment Type, Enterprise Size, Payment Mode, Industry Vertical and Region |
Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
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(Please note that the sample of the B2B Payments report has been modified to include the COVID-19 impact study prior to delivery.)
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B2B Payments Market: COVID-19 Analysis
The COVID-19 pandemic has had a significant impact on the B2B payments market, leading to both challenges and opportunities. Here is an analysis of the effects of COVID-19 on the B2B payments market:
- Digital Transformation Acceleration: The pandemic has accelerated the shift towards digital payments and online transactions. With physical distancing measures and lockdown restrictions in place, businesses have been compelled to adopt digital payment solutions to facilitate remote and contactless transactions. This has led to increased adoption of electronic invoicing, digital wallets, and online payment platforms in the B2B payments market.
- Rise of E-commerce: The closure of physical stores and the surge in remote working have fueled the growth of e-commerce. Businesses have shifted their focus to online sales channels, resulting in a greater reliance on digital payments for B2B transactions. The increased demand for B2B e-commerce has driven the adoption of online payment gateways, facilitating secure and efficient payment processing between businesses.
- Cash Flow Management Challenges: Many businesses faced cash flow challenges during the pandemic due to disrupted supply chains and reduced demand. B2B payment delays and defaults became more prevalent, affecting the financial stability of businesses across various sectors. As a result, businesses have sought flexible payment solutions and tools to manage their cash flow effectively, leading to increased demand for B2B payment platforms that offer features like invoice financing and payment scheduling.
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Key questions answered in this report:
- What is the size of the B2B Payments market and what is its expected growth rate?
- What are the primary driving factors that push the B2B Payments market forward?
- What are the B2B Payments Industry’s top companies?
- What are the different categories that the B2B Payments Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the B2B Payments market sample report and company profiles?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2024−2033
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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B2B Payments Market – Regional Analysis
The B2B payments market can be analyzed based on regional segments to understand the market dynamics and opportunities in different geographical areas. Here is a regional analysis of the B2B payments market:
- North America: North America holds a significant share of the B2B payments market. The region is characterized by a developed financial infrastructure and a high adoption rate of advanced payment technologies. The presence of major players and technological advancements in countries like the United States and Canada contribute to the growth of the B2B payments market in this region.
- Europe: Europe is another prominent market for B2B payments, driven by the presence of well-established financial systems and a large number of enterprises. The European Union’s initiatives for standardizing payment systems, such as the Single Euro Payments Area (SEPA), have facilitated cross-border B2B transactions. Countries like the United Kingdom, Germany, France, and the Netherlands are key contributors to the B2B payments market in Europe.
- Asia Pacific: The Asia Pacific region is witnessing rapid growth in the B2B payments market. Countries like China, India, Japan, and South Korea are experiencing a surge in digitalization and e-commerce activities, leading to increased B2B transactions. The growing number of SMEs and the adoption of mobile payment solutions are driving the market in this region.
- Latin America: Latin America is an emerging market for B2B payments, fueled by increasing digitization and the adoption of financial technologies. Countries like Brazil, Mexico, and Argentina are witnessing a growing number of businesses embracing electronic payment solutions for their B2B transactions. Government initiatives to promote digital payments and financial inclusion also contribute to market growth in this region.
- Middle East and Africa: The Middle East and Africa region are experiencing advancements in the B2B payments market. The region is witnessing a transition from cash-based transactions to digital payments, driven by government initiatives and investments in financial technologies. Countries like the United Arab Emirates, Saudi Arabia, and South Africa are leading the way in adopting B2B payment solutions.
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List of the prominent players in the B2B Payments Market:
- American Express
- Bank of America Corporation
- Capital One
- Mastercard
- Citigroup Inc.
- TransferWise Ltd.
- Payoneer Inc.
- PayPal Holdings Inc.
- Square Inc.
- Visa Inc.
- Others
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The B2B Payments Market is segmented as follows:
By Payment Type
- Domestic Payments
- Cross-Border Payments
By Enterprise Size
- Large Enterprises
- Small and Medium Sized Enterprises
By Payment Mode
- Traditional
- Digital
By Industry Vertical
- BFSI
- Manufacturing
- Metals & Mining
- IT & Telecom
- Energy & Utilities
- Others
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By Region
North America
- The U.S.
- Canada
- Mexico
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
This B2B Payments Market Research/Analysis Report Contains Answers to the following Questions.
- What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This B2B Payments Market? What are Their Company Profile, Product Information, and Contact Information?
- What Was the Global Market Status of the B2B Payments Market? What Was the Capacity, Production Value, Cost and PROFIT of the B2B Payments Market?
- What Is the Current Market Status of the B2B Payments Industry? What’s Market Competition in This Industry, Both Company and Country Wise? What’s Market Analysis of B2B Payments Market by Considering Applications and Types?
- What Are Projections of the Global B2B Payments Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
- What Is B2B Payments Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is the Economic Impact On B2B Payments Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of B2B Payments Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for B2B Payments Industry?
Click Here to Access a Free Sample Report of the Global B2B Payments Market @ https://www.custommarketinsights.com/report/b2b-payments-market/
Reasons to Purchase B2B Payments Market Report
- B2B Payments Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
- B2B Payments Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- B2B Payments Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The Industry’s current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
- B2B Payments Market Includes in-depth market analysis from various perspectives through Porter’s five forces analysis and provides insight into the market through Value Chain.
Reasons for the Research Report
- The study provides a thorough overview of the global B2B Payments market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
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What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide B2B Payments market analysis.
- The competitive environment of current and potential participants in the B2B Payments market is covered in the report, as well as those companies’ strategic product development ambitions.
- According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
- Participants and stakeholders worldwide B2B Payments market should find this report useful. The research will be useful to all market participants in the B2B Payments industry.
- Managers in the B2B Payments sector are interested in publishing up-to-date and projected data about the worldwide B2B Payments market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in B2B Payments products’ market trends.
- Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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