B2B payments Market Size, Share | Industry Report 2031
B2B payments Market Size, Share | Industry Report 2031
Segments - B2B Payments Market by Payment Type (Domestic and Cross-border), Payment Mode (Digital and Traditional), Enterprise Size (Large Enterprises, Medium Enterprises, and Small Enterprises), Industry Vertical (IT & Telecom, Manufacturing, Metals & Mining, BFSI, Energy & Utilities, and Others), and Region (Asia Pacific, North America, Latin America, Europe and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :BFSI-4022
| 4.8 Rating
| 52 Reviews
| 167 Pages
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Report Description
B2B Payments Market Outlook 2031
The global B2B Payments market size was valued at around USD 994.93 Billion in 2022 and is estimated to reach USD around 2380.77 Billion by 2031, expanding at a CAGR of around 10.18% during the forecast period, 2023 – 2031. The growth of the market is attributed to the increasing adoption of digital modes of payment in B2B payments.
Business-to-Business (B2B) payments refer to a form of transactions conducted between businesses such as manufacturers, wholesalers, and retailers. B2B payments tend to occur in a supply chain, where one business purchases raw materials from another business to use in its manufacturing process. Paper checks, bank wire transfers, credit cards, and cash are common methods of B2B payments, which are usually preferred by companies, due to the large sum of amount paid in such transactions.
B2B payments are either one-time or recurring payments that are complex and require a long period of time to receive approval or settle. These traditional modes of payment, though popular among companies, face several problems such as cash or check fraud, long process periods, and others.
The COVID-19 pandemic has altered the global B2B payments market significantly. Enterprises and companies are adopting digital B2B payments rapidly, as it does not require payments to be handled physically and payments can be done remotely. Increasing usage of technology, growing number of small and medium-sized enterprises, and rising import and export of goods and services across the globe fueled the global B2B payments market.
B2B Payments Market Dynamics
Major Drivers
Increasing export & import of goods and services and expansion of trade across the globe are estimated to fuel the market during the forecast period. Growing number of small and medium-sized enterprises, which engage in large trades, are expected to drive the market. Increasing usage of technology in B2B payments boosts the market.
Existing Restraints
Lack of global standards for cross-border B2B payments is anticipated to hamper the growth of the market in the coming years. Increasing number of cyber-attacks on digital payment modes are estimated to hinder the growth of the market.
Emerging Opportunities
Increasing utilization of Automate Clearing House (ACH), a fast and efficient electronic fund transfer system, in B2B payments is expected to create lucrative opportunities for key market players. Growing employment of automation in B2B payment systems to form a network of various suppliers, retailers, and wholesalers offer growth opportunities to key market players.
Scope of B2B Payments Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
B2B Payments Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Payment Type (Domestic and Cross-border), Payment Mode (Digital and Traditional), Enterprise Size (Large Enterprises, Medium Enterprises, and Small Enterprises), and Industry Vertical (IT & Telecom, Manufacturing, Metals & Mining, BFSI, Energy & Utilities, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Mastercard, Inc.; PayPal Holdings, Inc.; Capital One Financial Corporation; The American Express Company; The Bank of America Corporation; Visa, Inc.; Pioneer, Inc.; Block, Inc.; Wise Payments Limited; Stripe, Inc.; JPMorgan Chase & co.; Citigroup, Inc.; and Paystand, Inc. |
B2B Payments Market Segment Insights
Payment Type Segment Analysis
Based on payment type, the market is bifurcated into domestic payment and cross-border payment. The cross-border segment is expected to drive the market during the forecast period, as it contributes to the rapid growth of global trade. Several financial institutions and payment systems develop cross-border payments to facilitate rapid financial transactions to aid in the expansion of the market.
Payment Mode Segment Analysis
On the basis of payment mode, the market is divided into digital payment mode and traditional payment mode. The traditional payment mode segment is projected to hold a large share of the market during the forecast period, as companies prefer to use traditional payment methods such as bank wire transfers, checks, cards, and others. Additionally, companies are slowly adopting digital payment methods such as mobile wallets, which are expected to expand the digital payment mode segment during the forecast period.
Enterprise Size Segment Analysis
Based on enterprise size, the market is segregated into large enterprises, medium enterprises, and small enterprises. The large enterprises segment is expected to dominate the market during the forecast period, as large enterprises are increasingly adopting B2B payment methods to enhance their market value. It surges sales of goods and services among businesses via online channels. Moreover, the small enterprises segment is anticipated to expand during the forecast period, due to rising cross-border transactions among small enterprises across the globe.
Industry Vertical Segment Analysis
On the basis of industry vertical, the market is divided into IT & telecom, manufacturing, metals & mining, BFSI, energy & utilities, and others. The Banking, Financial Services, and Insurance (BFSI) segment is estimated to expand at a significant CAGR during the forecast period, due to increasing demand for digital payment modes for domestic and cross-border transactions. Rapid digitization in financial institutions and banks is expected to fuel the market during the forecast period.
Regional Analysis
Based on region, the B2B payments market share is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is estimated to hold a large share of the market, due to the increasing adoption of online payment solutions among small and medium-sized businesses in emerging economies of countries such as India and China. Growing presence of key market players in Asia Pacific drives the market in the region.
Segments
The global B2B payments market has been segmented on the basis of
Payment Type
- Domestic
- Cross-border
Payment Mode
- Digital
- Traditional
Enterprise Size
- Large Enterprises
- Medium Enterprises
- Small Enterprises
Industry Vertical
- IT & Telecom
- Manufacturing
- Metals & Mining
- BFSI
- Energy & Utilities
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Mastercard, Inc.
- PayPal Holdings, Inc.
- Capital One Financial Corporation
- The American Express Company
- The Bank of America Corporation
- Visa, Inc.
- Pioneer, Inc.
- Block, Inc.
- Wise Payments Limited
- Stripe, Inc.
- JPMorgan Chase & co.
- Citigroup, Inc.
- Paystand, Inc.
- Others
Competitive Landscape
The global B2B payments market is a highly competitive market share with the presence of key players such as Mastercard, Inc.; PayPal Holdings, Inc.; Capital One Financial Corporation; The American Express Company; The Bank of America Corporation; Visa, Inc.; Pioneer, Inc.; Block, Inc.; Wise Payments Limited; Stripe, Inc.; JPMorgan Chase & co.; Citigroup, Inc.; and Paystand, Inc., who use strategies such as mergers, acquisitions, collaborations, partnerships, and product launches to strengthen their hold on the market. For example,
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In May 2022, Mastercard, Inc. and Galileo Financial Technologies collaborated to accelerate digital transformation and improve access to financial opportunities for underdeveloped countries in Latin America and the Caribbean.
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In April 2022, Mastercard, Inc. announced a collaboration with Microsoft to improve identity solutions to enhance the online shopping experience and tackle digital fraud problems.
Frequently Asked Questions
Mastercard, Inc.; PayPal Holdings, Inc.; Capital One Financial Corporation; and The American Express Company are some of the key players in the market.
Asia Pacific dominates the market.
Increased export and import of goods and services across the globe, growing number of small and medium-size enterprises, and rising adoption of technology in B2B payment methods are expected to drive the market during the forecast period.
The global B2B Payments market size was valued at around USD 994.93 Billion in 2022 and is estimated to reach USD around 2380.77 Billion by 2031
The market is estimated to register CAGR of around 10.18% during the forecast period.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. B2B payments Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. B2B payments Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. B2B payments Market - Supply Chain
4.5. Global B2B payments Market Forecast
4.5.1. B2B payments Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. B2B payments Market Size (000’ Units) and Y-o-Y Growth
4.5.3. B2B payments Market Absolute $ Opportunity
5. Global B2B payments Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. B2B payments Market Size and Volume Forecast by Types
5.3.1. Domestic
5.3.2. Cross-border
5.3.3.
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global B2B payments Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. B2B payments Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global B2B payments Demand Share Forecast, 2019-2026
7. North America B2B payments Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America B2B payments Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America B2B payments Market Size and Volume Forecast by Types
7.4.1. Domestic
7.4.2. Cross-border
7.4.3.
7.5. Basis Point Share (BPS) Analysis by Types
7.6. Y-o-Y Growth Projections by Types
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America B2B payments Demand Share Forecast, 2019-2026
8. Latin America B2B payments Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America B2B payments Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America B2B payments Market Size and Volume Forecast by Types
8.4.1. Domestic
8.4.2. Cross-border
8.4.3.
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America B2B payments Demand Share Forecast, 2019-2026
9. Europe B2B payments Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe B2B payments Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe B2B payments Market Size and Volume Forecast by Types
9.4.1. Domestic
9.4.2. Cross-border
9.4.3.
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe B2B payments Demand Share Forecast, 2019-2026
10. Asia Pacific B2B payments Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific B2B payments Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific B2B payments Market Size and Volume Forecast by Types
10.4.1. Domestic
10.4.2. Cross-border
10.4.3.
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific B2B payments Demand Share Forecast, 2019-2026
11. Middle East & Africa B2B payments Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa B2B payments Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa B2B payments Market Size and Volume Forecast by Types
11.4.1. Domestic
11.4.2. Cross-border
11.4.3.
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa B2B payments Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global B2B payments Market: Market Share Analysis
12.2. B2B payments Distributors and Customers
12.3. B2B payments Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Mastercard, Inc.
12.4.2. PayPal Holdings, Inc.
12.4.3. Capital One Financial Corporation
12.4.4. The American Express Company
12.4.5. The Bank of America Corporation
12.4.6. Visa, Inc.
12.4.7. Pioneer, Inc.
12.4.8. Block, Inc.
12.4.9. Wise Payments Limited
12.4.10. Stripe, Inc.
Methodology
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