According to the latest report by IMARC Group, titled “B2B Payments Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027“, the global B2B payments market size 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.
What is a B2B Payments?
B2B payments are financial transactions used for exchanging goods or services between two or more businesses. They offer multiple payment options to improve cash flow, facilitating faster payments, and enable a quick expansion, and are processed using secure gateways. Since applications and tools automatically store payments, they help simplify accounts payable and receivable as with B2B payment solutions. As a result, B2B payments find extensive applications in the manufacturing, energy and utilities, information and technology (IT), metals and mining, banking, financial services and insurance (BFSI), and telecom industries.
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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.
B2B Payments Market Trends and Drivers:
The global B2B payments market is primarily driven by a significant rise in the import and export of goods and services. Besides this, several favorable initiatives taken by the governments of various countries to reduce trade barriers are positively influencing the market growth. Moreover, the surging product adoption in large enterprises for escalating their sales of goods or services via online retail channels and enhancing their market value has augmented product demand.
Additionally, there has been widespread adoption of the faster and more efficient automated clearing house (ACH) in B2B payments. In line with this, the increasing usage of automation in B2B payment systems for networking and engaging with new suppliers, distributors and retailers is contributing to market growth.
Furthermore, the shifting focus of enterprises on global expansion and the increasing number of small and medium-sized enterprises (SMEs) are other major growth-inducing factors. Other factors, including the rising focus of key players on introducing more comprehensive B2B payment solutions, technological advancements, and rapid digitalization, are also anticipated to create a favorable market outlook.
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B2B Payments Market Report Scope |
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Report Coverage |
Details |
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Market size value in 2021 |
US$ 942.6 Billion |
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Market forecast in 2027 |
US$ 1,563.5 Billion |
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Growth Rate |
CAGR of 8.30% from 2022 to 2027 |
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Base year for estimation |
2021 |
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Historical data |
2016-2021 |
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Forecast period |
2022-2027 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Test Type, Product, Application and End User |
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Regional scope |
North America, Europe, Asia-Pacific, Latin America, Middle East and Africa |
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Key companies profiled |
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. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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.
Who are the leading players in B2B Payments 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.
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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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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