The latest research study “B2B Payments Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global B2B payments market size reached a value of US$ 942.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1,563.5 Billion by 2027, exhibiting a CAGR of 8.30% during 2022-2027.
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B2B payments are financial transactions used for exchanging goods or services between two or more businesses. They offer multiple payment options to improve cash flow, facilitating faster payments, and enable a quick expansion, and are processed using secure gateways. Since applications and tools automatically store payments, they help simplify accounts payable and receivable as with B2B payment solutions. As a result, B2B payments find extensive applications in the manufacturing, energy and utilities, information and technology (IT), metals and mining, banking, financial services and insurance (BFSI), and telecom industries.
COVID-19Impact on Market: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
B2B Payments Market Trends and Drivers:
The global B2B payments market is primarily driven by a significant rise in the import and export of goods and services. Besides this, several favorable initiatives taken by the governments of various countries to reduce trade barriers are positively influencing the market growth. Moreover, the surging product adoption in large enterprises for escalating their sales of goods or services via online retail channels and enhancing their market value has augmented product demand.
Additionally, there has been widespread adoption of the faster and more efficient automated clearing house (ACH) in B2B payments. In line with this, the increasing usage of automation in B2B payment systems for networking and engaging with new suppliers, distributors and retailers is contributing to market growth.
Furthermore, the shifting focus of enterprises on global expansion and the increasing number of small and medium-sized enterprises (SMEs) are other major growth-inducing factors. Other factors, including the rising focus of key players on introducing more comprehensive B2B payment solutions, technological advancements, and rapid digitalization, are also anticipated to create a favorable market outlook.
Global B2B Payments Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
B2B Payments Companies:
American Express Company, Bank of America Corporation, Capital One, Citigroup Inc., JPMorgan Chase & Co., Mastercard Inc., Payoneer Inc., PayPal Holdings Inc., Paystand Inc., Stripe Inc., Visa Inc. and Wise Payments Limited.
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The report has segmented the market on the basis of region, payment type, payment mode, enterprise size and industry vertical.
Breakup by Payment Type:
- Domestic Payments
- Cross-Border Payments
Breakup by Payment Mode:
- Traditional
- Digital
Breakup by Enterprise Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Breakup by Industry Vertical:
- BFSI
- Manufacturing
- IT and Telecom
- Metals and Mining
- Energy and Utilities
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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