B2B Payments Market 2024 | Market Share, Size, Industry Growth, Competitive Landscape, Share & Forecast To 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

B2B Payments Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $1794.55 billion In 2028 At A CAGR Of 9.7% :

The B2B payments market size has grown strongly in recent years. It will grow from $1134.94 billion in 2023 to $1239.16 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to globalization and cross-border transactions, demand for faster and secure transactions, regulatory changes and compliance, automation of financial processes, emergence of fintech solutions.

The B2B payments market size is expected to see strong growth in the next few years. It will grow to $1794.55 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to continued global trade growth, focus on working capital optimization, rise of subscription-based services, integration with ERP systems, enhanced data security measures. Major trends in the forecast period include customization of payment solutions for industries, shift towards contactless and mobile payments, enhanced supplier and buyer collaboration platforms, focus on working capital optimization, integration of payment analytics for decision-making.

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B2B Payments Market Major Segments
The B2B payments market covered in this report is segmented -

1) By Payment Type: Domestic Payments, Cross-Border Payments
2) By Payment Mode: Bank Transfer, Cards, Other Payment Modes
3) By Enterprise Size: Large Enterprises, Medium-Sized Enterprises, Small-Sized Enterprises
4) By Industry Vertical: Manufacturing, IT And Telecom, Metals And Mining, Energy And Utilities, Banking, Financial Services And Insurance, Government Sector, Other Industry Vertical

Key Driver - Surging Global Trade Drives The Growth Of The B2B Payments Market

Growing global trade is expected to propel the B2B payments market going forward. Trade refers to the selling and buying of items, goods, and services between two firms, countries, or groups of people with the sole purpose of making a profit, when it is done internationally it is referred to as global trade. B2B payments are used in trade business for the rapid exchange of currency or money for goods and services, which plays an important role in export and import deals. For instance, in February 2022, according to the United Nations Conference on Trade and Development, a Switzerland-based intergovernmental organization that promotes world trade, the global trade value increased by 25% to reach $28.5 trillion in 2021 compared to 2020. Furthermore, according to the World Trade Organization, a Switzerland -based regulator and facilitator of international trade, global merchandise trade volumes is increase by 3.5% in 2022. Therefore, the growth of global trade is driving the demand for the B2B payments market.

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Prominent Trend - Product Innovations Drive Progress In The B2B Payments Market

Product innovations are a key trend gaining popularity in the B2B payments market. Major companies operating in the B2B payments market are focused on developing new technological solutions to strengthen their position. For instance, in December 2022, American Express, a US-based provider of financial services corporations that specialize in payment cards, launched Amex Business Link, a digital B2B payment ecosystem for network issuing and acquiring participants. It is uniquely designed to connect to all customer relationship management (CRM) and enterprise resource planning (ERP) systems that accept APIs and has a special architecture with reporting and reconciliation features. It supports domestic and international transactions by accepting card and non-card payments and enabling convenient payments for customers and providers of all sizes. Additionally, buyers and suppliers can get dynamic data that enables automatic reconciliation as well as monitor insights into sales and purchases.

B2B Payments Market Players
Major companies operating in the B2B payments market report are JPMorgan Chase & Co., Bank of America Corporation, Citigroup Inc., American Express Company, Capital One Financial Corporation, Visa Inc., PayPal Holdings Inc., Mastercard Inc., Fiserv Inc., Block Inc., Square Inc., Fidelity National Information Services Inc., Stripe Inc., Global Payments Inc., Ant Group Co., Worldpay Inc., Fleetcor Technologies Inc., Comdata Inc., WEX Inc., ACI Worldwide Inc., Adyen N.V., Bill.com Inc., TransferWise Ltd., Coupa Software Inc., Wise Payments Limited, Payoneer Global Inc., Bottomline Technologies Inc., Flywire Corporation, Paystand Inc., AvidXchange Inc., OnDeck Capital Inc., Divvy Inc., Tipalti Inc., Airwallex, WePay Inc., Billtrust Holdings Inc.

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the B2B payments market in 2023. The regions covered in the b2b payments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. B2B Payments Market Report Structure
3. B2B Payments Market Trends And Strategies
4. B2B Payments Market - Macro Economic Scenario
5. B2B Payments Market Size And Growth
…..
27. B2B Payments Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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