B2B payments market accounted for US$ 732.4 billion in 2022 and is estimated to be US$ 1900.6 billion by 2032 and is anticipated to register a CAGR of 10.1%

 


The B2B payments market accounted for US$ 732.4 billion in 2022 and is estimated to be US$ 1900.6 billion by 2032 and is anticipated to register a CAGR of 10.1%

The report "Global B2B Payments Market, By Transaction Type (Traditional and Digital), By Business Segment (Small Sized Business, Medium Sized Business, and Large Sized Business), By Operating Channel (Cross Border and Domestic),  and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.

Key Highlights:

·         In August 2019, American Express announced it signed an agreement to acquire acompaytm, a best-in-class, digital payment automation platform from ACOM Solutions, Inc., that helps business customers make supplier payments easily and securely, manage business spend, and improve cash flow.

·         In June 2019, Coupa Software, a leader in Business Spend Management (BSM), today announced that its Coupa Pay offering will integrate with Stripe, the online payments platform. This will make virtual card payments simpler and faster for businesses that use the Coupa BSM Platform.

Analyst View:

The major factors projected to drive the global market growth are gradual increase in income coupled with increase in consumer spending on goods and services. Additionally, factors such as increasing smart phones adoption, high internet penetration, is gradually increasing consumer’s preference for mobile payments through various applications which is anticipated to further influence the target market growth.

Developing government regulations related to cybercrime and improved infrastructure coupled with high government spending on cyber security, are factors creating revenue opportunities for the global market players. Furthermore, government of developed and developing are focused on development of payment infrastructure in order to facilitate the digital economy method coupled with launched of several application are factors positively propelling the global B2B payment market growth. Moreover, thriving e-commerce sector and with the introduction of new technology such as big data analytics, blockchain, AI, is projected to help financiers simplify the B2B payment system further propelling the revenue growth of the market.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global B2B Payments Market”, By Transaction Type (Traditional and Digital), By Business Segment (Small Sized Business, Medium Sized Business, and Large Sized Business), By Operating Channel (Cross Border and Domestic), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029

Key Market Insights from the report:        

The global B2B payments market accounted for US$ 732.4 billion in 2019 and is estimated to be US$ 1900.6 billion by 2029 and is anticipated to register a CAGR of 10.1%. The market report has been segmented on the basis of transaction type, business segment, operating channel, and region.

·         By transaction type, the global B2B payments market is segmented into traditional and digital

·         By business segment, the target market is segmented into small sized business, medium sized business, and large sized business

·         By operating channel, the global market is bifurcated into cross border and domestic

·         By region, North America market estimates for high revenue share, owing to availability of advanced internet infrastructure for smart payment options along with high consumers spending capacity on food and entertainment services. Moreover, presence of major service providers operating in the country such as US and Canada is projected to fuel the regional market growth.

Competitive Landscape:

The prominent player operating in the global B2B payments market includes American Express Co. Inc., Bottomline Technologies Inc., Ant Financial Services Co. Ltd., Coupa Software Inc., Intuit Inc., JPMorgan Chase & Co., FleetCor Technologies Inc., MasterCard Inc., and SAP.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

About Prophecy Market Insights

Prophecy Market Insights is specialized market research, analytics, marketing/business strategy, and solutions that offers strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high-value opportunities in the target business area. We also help our clients to address business challenges and provide the best possible solutions to overcome them and transform their business.

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Prophecy Market Insights

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