Acute repetitive seizures market size is expected to reach USD 16,753 million by 2030, registering a CAGR of 45.9%, driven by unmet clinical needs of patients and caregivers

B2B Payment Transactions Market Size to Reach USD 81.84 Trillion by 2030, Growing 6% CAGR – Exclusive Report by Acumen Research and Consulting

TOKYO, Nov. 08, 2022 (GLOBE NEWSWIRE) — The Global B2B payment transaction market The size accounted for USD 49.481 billion in 2021 and is expected to reach a market size of USD 81.840 billion by 2030 growing at a CAGR of 6% from 2022 to 2030.

B2B payment transactions market statistics

  • The global market value of B2B payment transactions was USD 49.481 billion in 2021 and is expected to grow at a CAGR of 6% from 2022 to 2030
  • North America B2B Payment Transactions Market Revenue Surpasses 40% Market Share in 2021
  • According to recent figures, the total volume of annual B2B payments has been predicted to be around USD 120 trillion per year.
  • Asia-Pacific B2B Payment Transaction Market Growth to Record Remarkable CAGR of Over 7% from 2022 to 2030
  • Among payment types, the domestic payments sub-segment garnered more than 64% of the overall market share in 2021
  • By payment method, the elimination of folds generated approximately 65% ​​of the total market share
  • Rising mergers between B2B payment players and FinTech giants is a global B2B payment transaction market trend that is fueling industry demand

B2B Payment Transactions Market Growth Drivers

  • Rapid expansion of trades around the world
  • Increase in the number of online payment activities
  • Increase import and export of goods and services
  • Growing smartphone penetration

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B2B payment transaction market Report cover:

Market B2B payment transaction market
B2B payment transaction market Size 2021 $49.481 billion
B2B payment transaction market Forecast 2030 $81.84 trillion
B2B payment transaction market CAGR from 2022 to 2030 6%
B2B payment transaction market Analysis period 2018 – 2030
B2B payment transaction market base year 2021
B2B payment transaction market Forecast data 2022 – 2030
Segments Covered By payment type, business size, payment method, vertical and geography
B2B payment transaction market Regional scope North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Profiled Key Companies American Express Co. Inc., Ant Financial Services Co. Ltd., Bottomline Technologies Inc., Coupa Software Inc., FleetCor Technologies Inc., Intuit Inc., JPMorgan Chase & Co., MasterCard Inc., PayPal Holdings Inc., SAP , TransferWise Ltd. and Visa Inc.
Report cover Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulatory Analysis

B2B payment transaction market dynamics

Payments made between two merchants for goods or rather services are called B2B payments. Paper checks remain the most common form of payment for businesses. A B2B digital payment solution is a fast payment method that includes issuing, receiving and processing systems, all of which can improve a company’s cash flow. Business-to-business transactions, such as purchasing parts and goods for use in manufacturing procedures, are common in the typical supply chain. People can market finished products through consumer-to-business transactions.

Gradually increasing incomes, along with increasing consumer spending on goods and services, are expected to support the growth of the market. Governments in both developed and developing countries are focusing on the development of payment infrastructure to facilitate the approach to the digital economy, as well as the introduction of various applications, all of which are factors with a significant impact on the global growth of the B2B payment industry. The Association of Indian Banks launched the Unified Payments Interface (UPI) in 2016, and the National Payments Corporation of India (NPCI) created the Bharat Interface for Money (BHIM) application. UPI manages multiple bank accounts through a single mobile app from any participating bank.

Additionally, factors such as high internet penetration and growing adoption of smart phones are gradually increasing consumer preference for mobile payments through various applications, which is expected to support the growth of the market. In 2016, the BHIM app processed around 16.5 million UPI transactions totaling INR 68,872.57 crore. The interface processed 93,000 transactions totaling $30 million for 21 banks.

However, increasing threats/activities related to data theft, along with lack of regulatory scenario for overseas payments, are factors that are hampering the growth of the market. Hackers with easy access to high-speed internet can easily track and steal data. Two billion data records were compromised in 2017, according to the World Economic Forum, and more than 4.5 billion records were breached in the first half of 2018. In addition, limited end-to-end transaction visibility end due to multiple payments, embedding of costs, chargebacks and payment cycle disruptions make the preference for B2B payment methods less preferred. Another factor that is expected to limit the growth of the market is the lack of transaction transparency.

Government spending on cybersecurity is high and factors such as developing government regulations related to cybercrime and improving infrastructure create revenue and profit for target market players. Moreover, with the introduction of new technologies such as big data analytics, AI, and blockchain, entrepreneurs are expected to simplify the B2B payment system, further supporting the market revenue growth.

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Segmentation of the B2B payment transactions market

The global B2B payment transactions market is divided into five categories: payment type, company size, payment method, vertical, and region. The payment type segment is categorized into domestic payments and cross-border payments. The global B2B payment transaction market is divided into enterprise size, such as large enterprises and small and medium enterprises. The payment method is categorized into digital and traditional. The industry vertical segment is categorized into BFSI, IT & Telecommunications, Manufacturing, Energy & Utilities, Metals & Mining, and Others. In addition, North America, Europe, Asia-Pacific, Latin America, Middle East and Africa make up the regional classification.

B2B payment transaction market share

The domestic payments sub-segment generated the most revenue in 2021, and this trend is expected to continue from 2022 to 2030, according to the B2B Payment Transactions Industry Report.

According to the market forecast for B2B payment transactions, the large enterprise sub-segment held more than half of the market share from 2022 to 2030. Due to the government approach of developing countries towards digitalization, the transaction-like digital section is gaining traction. Between 2022 and 2030, BFSI dominated the majority of the market share based on the industrial vertical segment.

Regional growth of the B2B payment transactions market

Due to substantial consumer spending capacity on dining and entertainment services, along with the availability of state-of-the-art internet infrastructure for smart payment choices, the North American market will account for a significant portion of revenue in 2021. Additionally, the presence of major service providers operating in the country, such as the United States and Canada, is expected to drive the expansion of the regional market.

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B2B payment transaction market players

American Express Co. Inc., Bottomline Technologies Inc., Ant Financial Services Co. Ltd., JPMorgan Chase & Co., Coupa Software Inc., Intuit Inc., FleetCor Technologies Inc., MasterCard Inc. and SAP are important companies in the global market for b2b payment transactions. Due to the large number of competitors present in the industry, the competitive environment is intense. Competition is expected to grow due to the propensity of major competitors to grow their customer base and improve the consumer experience.

Questions this report answers

  • What was the market size of B2B payment transactions market in 2021?
  • What will be the CAGR of the B2B Payment Transactions Market during the forecast period, 2022 to 2030?
  • Who are the key players in the Global B2B Payment Transactions Market?
  • Which region held the largest B2B payment transaction market share in 2021?
  • What are the key market drivers of the B2B Payment Transactions Market?
  • What is the largest end-user B2B payment transaction market?
  • What will be the market value of B2B payment transactions in 2030?

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