B2B Payments Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of B2B Payments Market
The B2B Payments market size was valued at USD 72.30 trillion in 2023, and the market is now projected to grow from USD 79.53 trillion in 2024 to USD 174.38 trillion by 2032, exhibiting a CAGR of 11.9% during the forecast period of 2024-2032.
The digital transformation prevailing in the phase of COVID-19 was on a rage, the consumer demand through online and digital channels accelerated the B2B payments market growth. The B2B installments have seen a sharp increment in demand, particularly due to the increment in e-commerce and quickened digitization in the midst of the widespread emergency. In the midst of the widespread, agreeing to Mastercard, 67% of small-sized companies overhauled their digital/e-pay arrangements, of which 81% concluded that they have progressed their client fulfillment level.
The rise within the appropriation of AI has optimized the budgetary workflows to revolutionize the installment forms by bringing digitization and robotization within the business-to-business (B2B) division. Integration with AI-based bots will progress acquiring productivity, speed up preparing effectiveness, and diminish the value-based blunders of different businesses. The developing infiltration of AI innovation among diverse industry verticals gives a wide extend of card issuance and extortion anticipation arrangements over numerous sectors of the industry.
A deliberate rise in request for speedier installments by bringing computerization in value-based forms to ease out the supply chain within the following few a long time. As different businesses are centering on conveying coordinates innovation to maximize the return on their speculation, typically anticipated to towards the rising adoption of the innovation within the industry.
Comprehensive Analysis of B2B Payments Market
The mode of payment type is being bifurcated into two categories namely as cross border payments and domestic payments of which the cross border is termed to be the leading payment type segment. On the reference of payment method, the B2B payment market is being sectioned as online payments, cards and bank transfer wherein the bank transfer is governed to hold the most elevated share. Large enterprises and small and medium sized enterprises are the two types of enterprises in the B2B payment market. On the analysis of industry type, the market structure is further divided into BFSI, government, metal and mining, retail, e-commerce, IT and Telecom and manufacturing among these retail and e-commerce section proved to be the leading of all.
North America with an elated revenue share of over USD 29.22 trillion is possessed to hold the biggest B2B payment market share due to the nearness of a huge number of B2B payments companies over the region. Expansion of the investments within the advancement of solid and proficient payment solutions to oversee money flow and keep up connections with the material providers show over the U.S. and Canada boost the market advancement.
The key market players such as FIS (U.S.), Payoneer Inc. (U.S.), Visa Inc. (U.S.), Mastercard Inc. (Spain), Flywire (Netherlands), American Express (U.S.), JPMorgan and Chase (U.S.), Paystand, Inc. (U.S.), Squareup Pte. Ltd. (U.S.), Stripe Inc. (U.S.) are shaping organizations to bring advancement in B2B sort of payments arrangements in arrange to improve the company's B2B installments capabilities. Progressions to the item portfolio are making a difference major players to preserve their competitive edge. These companies are too locks in in vital associations, acquisitions, item dispatches, and collaborations to grow their business and dispersion organize to preserve their advertise development.
In October 2023, Visa Inc. entered into an organization with Quick to encourage universal business-to-business (B2B) payments and offer assistance to progress communication over the tremendous systems of worldwide businesses.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2017-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2017-2021
Growth Rate CAGR of 11.9% from 2023 to 2030
Unit Value (USD Trillion)
Segmentation By Payment Type
Domestic Payments
Cross Border Payments
By Payment Method
Bank Transfer
Cards
Online Payments
By Enterprise Type
Small & Medium Enterprises
Large Enterprises
By Industry
Government
Manufacturing
BFSI
Metal & Mining
IT & Telecom
Retail & E-commerce
Others (Healthcare, Energy & Utilities)
By Region
North America (By Deployment, Enterprise Type, Industry and Country)
U.S. (By Industry)
Canada (By Industry)
Mexico (By Industry)
Europe (By Deployment, Enterprise Type, Industry and Country)
U.K. (By Industry)
Germany (By Industry)
France (By Industry)
Italy (By Industry)
Spain (By Industry)
Russia (By Industry)
Benelux (By Industry)
Nordics (By Industry)
Rest of Europe
Asia Pacific (By Deployment, Enterprise Type, Industry and Country)
China (By Industry)
Japan (By Industry)
India (By Industry)
South Korea (By Industry)
ASEAN (By Industry)
Oceania (By Industry)
Rest of Asia Pacific
Middle East & Africa (By Deployment, Enterprise Type, Industry and Country)
Turkey (By Industry)
Israel (By Industry)
GCC (By Industry)
North Africa (By Industry)
South Africa (By Industry)
Rest of Middle East & Africa
South America (By Deployment, Enterprise Type, Industry and Country)
Brazil (By Industry)
Argentina (By Industry)
Rest of South America
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 3.3. Impact of COVID-19
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global B2B Payments Key Players Market Share/Ranking, 2022
- 5. Global B2B Payments Market Size Estimates and Forecasts, By Segments, 2017-2030
- 5.1. Key Findings
- 5.2. By Payment Type (USD)
- 5.2.1. Domestic Payments
- 5.2.2. Cross-Border Payments
- 5.3. By Payment Method (USD)
- 5.3.1. Bank Transfer
- 5.3.2. Cards
- 5.3.3. Online Payments
- 5.4. By Enterprise Type (USD)
- 5.4.1. Small & Medium Enterprises
- 5.4.2. Large Enterprises
- 5.5. By Industry (USD)
- 5.5.1. Government
- 5.5.2. Manufacturing
- 5.5.3. BFSI
- 5.5.4. Metal & Mining
- 5.5.5. IT & Telecom
- 5.5.6. Retail & E-commerce
- 5.5.7. Others (Healthcare, Energy & Utilities)
- 5.6. By Region (USD)
- 5.6.1. North America
- 5.6.2. Europe
- 5.6.3. Asia Pacific
- 5.6.4. Middle East & Africa
- 5.6.5. South America
- 6. North America B2B Payments Market Size Estimates and Forecasts, By Segments, 2017-2030
- 6.1. Key Findings
- 6.2. By Payment Type (USD)
- 6.2.1. Domestic Payments
- 6.2.2. Cross-Border Payments
- 6.3. By Payment Method (USD)
- 6.3.1. Bank Transfer
- 6.3.2. Cards
- 6.3.3. Online Payments
- 6.4. By Enterprise Type (USD)
- 6.4.1. Small & Medium Enterprises
- 6.4.2. Large Enterprises
- 6.5. By Industry (USD)
- 6.5.1. Government
- 6.5.2. Manufacturing
- 6.5.3. BFSI
- 6.5.4. Metal & Mining
- 6.5.5. IT & Telecom
- 6.5.6. Retail & E-commerce
- 6.5.7. Others (Healthcare, Energy & Utilities)
- 6.6. By Country (USD)
- 6.6.1. United States
- 6.6.1.1. By Industry
- 6.6.2. Canada
- 6.6.2.1. By Industry
- 6.6.3. Mexico
- 6.6.3.1. By Industry
- 7. Europe B2B Payments Market Size Estimates and Forecasts, By Segments, 2017-2030
- 7.1. Key Findings
- 7.2. By Payment Type (USD)
- 7.2.1. Domestic Payments
- 7.2.2. Cross-Border Payments
- 7.3. By Payment Method (USD)
- 7.3.1. Bank Transfer
- 7.3.2. Cards
- 7.3.3. Online Payments
- 7.4. By Enterprise Type (USD)
- 7.4.1. Small & Medium Enterprises
- 7.4.2. Large Enterprises
- 7.5. By Industry (USD)
- 7.5.1. Government
- 7.5.2. Manufacturing
- 7.5.3. BFSI
- 7.5.4. Metal & Mining
- 7.5.5. IT & Telecom
- 7.5.6. Retail & E-commerce
- 7.5.7. Others (Healthcare, Energy & Utilities)
- 7.6. By Country (USD)
- 7.6.1. United Kingdom
- 7.6.1.1. By Industry
- 7.6.2. Germany
- 7.6.2.1. By Industry
- 7.6.3. France
- 7.6.3.1. By Industry
- 7.6.4. Italy
- 7.6.4.1. By Industry
- 7.6.5. Spain
- 7.6.5.1. By Industry
- 7.6.6. Russia
- 7.6.6.1. By Industry
- 7.6.7. Benelux
- 7.6.7.1. By Industry
- 7.6.8. Nordics
- 7.6.8.1. By Industry
- 7.6.9. Rest of Europe
- 8. Asia Pacific B2B Payments Market Size Estimates and Forecasts, By Segments, 2017-2030
- 8.1. Key Findings
- 8.2. By Payment Type (USD)
- 8.2.1. Domestic Payments
- 8.2.2. Cross-Border Payments
- 8.3. By Payment Method (USD)
- 8.3.1. Bank Transfer
- 8.3.2. Cards
- 8.3.3. Online Payments
- 8.4. By Enterprise Type (USD)
- 8.4.1. Small & Medium Enterprises
- 8.4.2. Large Enterprises
- 8.5. By Industry (USD)
- 8.5.1. Government
- 8.5.2. Manufacturing
- 8.5.3. BFSI
- 8.5.4. Metal & Mining
- 8.5.5. IT & Telecom
- 8.5.6. Retail & E-commerce
- 8.5.7. Others (Healthcare, Energy & Utilities)
- 8.6. By Country (USD)
- 8.6.1. China
- 8.6.1.1. By Industry
- 8.6.2. Japan
- 8.6.2.1. By Industry
- 8.6.3. India
- 8.6.3.1. By Industry
- 8.6.4. South Korea
- 8.6.4.1. By Industry
- 8.6.5. ASEAN
- 8.6.5.1. By Industry
- 8.6.6. Oceania
- 8.6.6.1. By Industry
- 8.6.7. Rest of Asia Pacific
- 9. Middle East & Africa B2B Payments Market Size Estimates and Forecasts, By Segments, 2017-2030
- 9.1. Key Findings
- 9.2. By Payment Type (USD)
- 9.2.1. Domestic Payments
- 9.2.2. Cross-Border Payments
- 9.3. By Payment Method (USD)
- 9.3.1. Bank Transfer
- 9.3.2. Cards
- 9.3.3. Online Payments
- 9.4. By Enterprise Type (USD)
- 9.4.1. Small & Medium Enterprises
- 9.4.2. Large Enterprises
- 9.5. By Industry (USD)
- 9.5.1. Government
- 9.5.2. Manufacturing
- 9.5.3. BFSI
- 9.5.4. Metal & Mining
- 9.5.5. IT & Telecom
- 9.5.6. Retail & E-commerce
- 9.5.7. Others (Healthcare, Energy & Utilities)
- 9.6. By Country (USD)
- 9.6.1. Turkey
- 9.6.1.1. By Industry
- 9.6.2. Israel
- 9.6.2.1. By Industry
- 9.6.3. GCC
- 9.6.3.1. By Industry
- 9.6.4. North Africa
- 9.6.4.1. By Industry
- 9.6.5. South Africa
- 9.6.5.1. By Industry
- 9.6.6. Rest of MEA
- 10. South America B2B Payments Market Size Estimates and Forecasts, By Segments, 2017-2030
- 10.1. Key Findings
- 10.2. By Payment Type (USD)
- 10.2.1. Domestic Payments
- 10.2.2. Cross-Border Payments
- 10.3. By Payment Method (USD)
- 10.3.1. Bank Transfer
- 10.3.2. Cards
- 10.3.3. Online Payments
- 10.4. By Enterprise Type (USD)
- 10.4.1. Small & Medium Enterprises
- 10.4.2. Large Enterprises
- 10.5. By Industry (USD)
- 10.5.1. Government
- 10.5.2. Manufacturing
- 10.5.3. BFSI
- 10.5.4. Metal & Mining
- 10.5.5. IT & Telecom
- 10.5.6. Retail & E-commerce
- 10.5.7. Others (Healthcare, Energy & Utilities)
- 10.6. By Country (USD)
- 10.6.1. Brazil
- 10.6.1.1. By Industry
- 10.6.2. Argentina
- 10.6.2.1. By Industry
- 10.6.3. Rest of South America
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Mastercard Inc.
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. FIS
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Stripe
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Paystand, Inc.
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Squareup Pte. Ltd.
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. Flywire
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. Payoneer Inc.
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Edenred Payment Solutions
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Visa Inc.
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. American Express
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
- 12. Key Takeaways
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