According to the latest report by IMARC Group, titled "Global B2B Payments Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027", the global B2B payments market 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.
Business-to-business
(B2B) payments refer to the transaction of finances among two or more
businesses to exchange goods and services. They are undertaken with the help of
secure gateways that provide multiple payment options. These payments also ensure
faster payments and improve cash flow, making the payment process easier for
the firm. B2B payments are generally influenced by several variables such as
frequency, volume, sector, and interest charges that do not impact customer
payments. They also facilitate tracing and avoiding ambiguity and discrepancy
between merchants.
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Report
Metric |
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Historical:
2016-2021 |
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Base Year:
2021 |
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Forecast
Year: 2022-2027 |
B2B Payments Market Trends and Drivers:
The global
B2B payments market is primarily driven by its extensive application across
manufacturing, information technology (IT), telecom, metal and mining, energy
and utilities, and BFSI sectors. Nowadays, the increasing number of trade
activities has led to a significant rise in the export and import of goods and
services, which is fueling the market growth.
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Besides this, governing authorities in various countries are undertaking
numerous efforts to reduce trade barriers, thereby propelling the demand for
B2B payments. In addition, the development of small and medium-sized
enterprises (SMEs) is increasing the need for B2B payments for relatively
faster and more efficient business transactions.
Furthermore, technological development, such as the integration of automation
in B2B payment methods to improve networking and accessibility to various
suppliers, wholesalers, and retailers, is anticipated to create a positive
outlook for the market in the upcoming years.
Note: We are
regularly tracking the direct effect of COVID-19 on the market, along with the indirect
influence of associated industries. These observations will be integrated into
the report.
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.
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.
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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latest primary and secondary data (2022-2027) with Cost Module, Business
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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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company’s expertise.
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