PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1618245
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1618245
B2B Digital Payment Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 to 2032
The Global B2B Digital Payment Market reached USD 7.5 trillion in 2023 and is anticipated to grow at 17% CAGR from 2024 to 2032. This rapid growth can be attributed to the increasing efficiency and cost-effectiveness of digital payment methods compared to traditional ones. By simplifying financial transactions and eliminating paperwork, digital payments streamline the payment process, driving greater market expansion. The broader digital payments market is expected to grow at a CAGR of 16% during the same period, fueled by the rising adoption of smartphones and enhanced internet connectivity. Government initiatives that promote cashless transactions, along with continuous advancements in payment technologies, are also significant contributors to this growth.
The market can be categorized based on payment types, including digital commerce, digital remittances, and mobile POS payments. The digital commerce segment is particularly noteworthy, accounting for over 60% share in 2023. This segment is anticipated to surpass a transactional value of USD 20.2 trillion by 2032. Digital commerce enhances efficiency and simplifies transactions, reducing the time and resources needed for invoicing and payment processing. Automating workflows leads to quicker transaction cycles, significantly boosting operational efficiency. Furthermore, digital commerce platforms allow businesses to tap into global markets, supporting international trade and cross-border transactions.
This demand for flexible digital payment solutions that can handle multiple currencies and comply with varying regulations further propels the market. In terms of end-use, the B2B digital payment market encompasses various sectors such as banking, transportation, IT, healthcare, retail, travel, and e-commerce. The IT sector captured around 25% of the market share in 2023. This dominance is driven by the sector's emphasis on technological innovation, fostering the development of advanced payment solutions that ensure seamless transactions. The integration of modern technologies, including blockchain, artificial intelligence, and machine learning, enhances security and optimizes payment processes.
| Market Scope | |
|---|---|
| Start Year | 2023 |
| Forecast Year | 2024-2032 |
| Start Value | $7.5 Trillion |
| Forecast Value | $31.7 Trillion |
| CAGR | 17% |
In North America, the B2B digital payment market is characterized by a significant revenue share, with one country leading the way. The secure financial infrastructure, sophisticated payment gateways, and reliable internet connectivity, support digital transactions. Continuous innovation from technology companies and fintech startups accelerates advancements in real-time payments and AI-driven fraud detection, establishing a strong foundation for progressive payment solutions. Additionally, the focus on improving efficiency aligns well with the goals of many businesses, driving further adoption of digital payment systems that enhance cash flow and reduce transaction costs.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
- 1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimates
- 1.3 Forecast model
- 1.4 Primary research & validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
- 1.5 Market definitions
Chapter 2 Executive Summary
- 2.1 Industry synopsis, 2021 - 2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Payment service providers
- 3.1.2 Banks and Financial Institutions
- 3.1.3 Fintech Companies
- 3.1.4 Card Networks
- 3.1.5 Merchant Acquirers
- 3.1.6 End Use
- 3.2 Supplier landscape
- 3.3 Profit margin analysis
- 3.4 Technology & innovation landscape
- 3.5 Key news & initiatives
- 3.6 Regulatory landscape
- 3.7 Impact forces
- 3.7.1 Growth drivers
- 3.7.1.1 Digital payments provide enhanced efficiency and cost savings.
- 3.7.1.2 Increasing globalization is driving cross-border transactions.
- 3.7.1.3 Online marketplaces and e-commerce platforms are on the rise.
- 3.7.1.4 Technological advancement in B2B digital payment systems
- 3.7.2 Industry pitfalls & challenges
- 3.7.2.1 Data privacy concerns
- 3.7.2.2 High cost of implementation
- 3.7.1 Growth drivers
- 3.8 Growth potential analysis
- 3.9 Porter's analysis
- 3.10 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Payment, 2021 - 2032 ($Bn)
- 5.1 Key trends
- 5.2 Digital commerce
- 5.3 Digital remittances
- 5.4 Mobile POS payments
Chapter 6 Market Estimates & Forecast, By End Use, 2021 - 2032 ($Bn)
- 6.1 Key trends
- 6.2 BFSI
- 6.3 Transportation & logistics
- 6.4 IT & telecom
- 6.5 Healthcare
- 6.6 Retail
- 6.7 Travel & hospitality
- 6.8 E-commerce
- 6.9 Others
Chapter 7 Market Estimates & Forecast, By Region, 2021 - 2032 ($Bn)
- 7.1 Key trends
- 7.2 North America
- 7.2.1 U.S.
- 7.2.2 Canada
- 7.3 Europe
- 7.3.1 UK
- 7.3.2 Germany
- 7.3.3 France
- 7.3.4 Spain
- 7.3.5 Italy
- 7.3.6 Russia
- 7.3.7 Nordics
- 7.4 Asia Pacific
- 7.4.1 China
- 7.4.2 India
- 7.4.3 Japan
- 7.4.4 South Korea
- 7.4.5 ANZ
- 7.4.6 Southeast Asia
- 7.5 Latin America
- 7.5.1 Brazil
- 7.5.2 Mexico
- 7.5.3 Argentina
- 7.6 MEA
- 7.6.1 UAE
- 7.6.2 South Africa
- 7.6.3 Saudi Arabia
Chapter 8 Company Profiles
- 8.1 ACI Worldline
- 8.2 American Express Company
- 8.3 Apple Inc.
- 8.4 Block, Inc.
- 8.5 FIS Global
- 8.6 Fiserv Inc.
- 8.7 Global Payments Inc.
- 8.8 Google LLC
- 8.9 Mastercard Incorporated
- 8.10 PayPal Holdings, Inc.
- 8.11 Paytm (One97 Communications Limited)
- 8.12 Samsung Electronics Co., Ltd.
- 8.13 Stripe, Inc.
- 8.14 Visa Inc.
- 8.15 WeChat Pay (Tencent Holdings Limited)
- 8.16 Worldline SA
