With the emergence and long-term Impact of COVID-19, Global B2B Payments Market to reach USD 177.74 billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global B2B Payments Market points towards a potential rise to USD 177.74 billion by 2030. B2B payments encompass the exchange of goods or services for a specified currency value between businesses and companies. These transactions occur as one-time or recurring payments, contingent upon the terms negotiated between the seller and buyer. Involving repetitive high-volume and high-value transactions, B2B payments typically entail processes that can be more time-intensive compared to B2C transactions.
The swift digitization and automation of B2B payments solutions have surged the demand from business owners, propelling market growth. The industry’s expansion is further driven by the rising preference for real-time payments and increased investments in technology-based payment solutions. Also, the growing integration with ERP systems, rapid digitalization & automation in the B2B payment solutions, coupled with the surge in online marketplaces and E-commerce platforms are the most prominent factors that are propelling the market demand across the globe.
Geographically, the global B2B Payments market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing to the rising investments in the development of dependable and effective payment solutions aimed at managing cash flow and nurturing relationships with material suppliers across the U.S. and Canada are accelerating market growth. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The increasing adoption of virtual debit and credit cards within various businesses across developing nations such as India and China are significantly propelling the market demand across the region.
Moreover, there is a surge in investments in small and medium-sized companies across diverse industries aimed at enhancing cross-border payment transactions. Consequently, these factors play pivotal roles in augmenting the adoption of B2B payment solutions in the Asia Pacific region. According to the 2022 report from the State Council of the People’s Bank of China, the business volume of RMB cross-border payments in China exhibited rapid growth in 2021 compared to the previous year. The value of 3.34 million transactions processed by China’s RMB cross-border payment system amounted to 79.60 trillion yuan (USD 12.53 Trillion), marking a substantial increase of 75.83% compared to 2021.
The global B2B Payments market is highly competitive owing to the presence of several key players such as Mastercard Inc. (Spain) FIS (U.S.) Stripe, Inc. (U.S.) Paystand, Inc. (U.S.) Flywire (Netherlands) Squareup Pte. Ltd. (U.S.) Edenred Payment Solutions (Ireland) Payoneer Inc. (U.S.) American Express Company (U.S.) Visa Inc. (U.S.), and others.
For further analysis on this or to request a sample copy of this report, please click the link mentioned below:
Key findings of the study suggest:
- Global B2B Payments Market is anticipated to grow with a healthy growth rate of more than 11.9% over the forecast period 2023-2030.
- In the Payment Method segment, Bank Transfer emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to rising investments in the development of dependable and effective payment solutions in the region.
- Asia Pacific is expected to grow at higher rate owing to increasing adoption of virtual debit and credit cards in the region.
Bizwit Research & Consulting has considered following segments for the study:
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
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
To get a sample of this report or to purchase a copy of the study, you can directly contact us at: sales@bizwitresearch.com
About Us
Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
Contact US
Global Business Development
Phone: +1 209 498-3066
Email: Sales@bizwitresearch.com
Website: www.bizwitresearch.com
