B2B payments revenue is estimated to double, reaching
$1,356.28 billion by 2025, finds
Frost & Sullivan
SINGAPORE, April 13, 2020 /PRNewswire/ -- The growing
business-to-business (B2B) eCommerce market and rising adoption of
financial technology in Asia-Pacific (APAC) are prominent factors
driving the B2B payments market in this part of the world. The B2B
payments market revenue is estimated to double, reaching
$1,356.28 billion by 2025 from
$671.32 billion in 2018, at a
compound annual growth rate (CAGR) of 10.5%.
"Strategic partnerships among key local and global industry
participants have increased B2B payment adoption and promoted
digital transformation across APAC," said Dewi Rengganis, Industry
Analyst, ICT, Asia-Pacific at
Frost & Sullivan. "Additionally, with the increasing
adoption rate of e-Invoicing, the B2B payments market is gaining
further momentum as a large number of enterprises are migrating
towards e-Invoicing instead of paper invoicing."
Frost & Sullivan's recent analysis, Growth Opportunities
in the Asia-Pacific B2B Payments
Market, Forecast to 2025, encompasses detailed analyses of
trends within the B2B payments landscape, including market drivers
and restraints, revenue forecast by payment type, country analysis,
and market growth opportunities. Country-wise, the B2B payments
landscape in Indonesia is more
attractive than other countries in the region. With growing B2B
eCommerce, B2B payment revenue in Indonesia is swelling at a CAGR of 54.2%. In
Vietnam, it is growing at a CAGR
of 40.2%.
For further information on this analysis,
please visit: http://frost.ly/423
"Businesses are increasingly embracing electronic payment forms
and are continuously innovating with alternative systems to create
value-added services for their end customers," noted Rengganis.
"Further, by utilizing this capability (electronic payment forms),
businesses can offer better customer experience and create new
disruptive business models as well as new revenue streams."
The geopolitical risk for cross-border B2B payments and security
concerns over digital payment methods are likely to restrain the
growth of the market, but B2B payment vendors' focus on the
following aspects will boost market growth, presenting immense
opportunities:
- Cryptocurrency can be a solution for cross-border payment and
settlement by verifying the origin and authenticity of the product
as it moves across the value chain.
- To minimize security risk, payment providers can enable
customers to attain better feasibility of the transaction processes
and traceability in historical data transactions. As such,
customers can identify potentially compromised transactions.
- B2B payment solution providers should develop innovative
payment products that can address both working capital and cash
flow challenges for SMEs.
- B2B payment solution providers should collaborate with major
card networks to offer virtual credit cards to enterprise
customers.
Growth Opportunities in the Asia-Pacific B2B Payments Market, Forecast to
2025 is the latest addition to Frost & Sullivan's
Industrial research and analyses available through the Frost
& Sullivan Leadership Council, which helps organizations
identify a continuous flow of growth opportunities to succeed in an
unpredictable future.
About Frost & Sullivan
For over five decades,
Frost & Sullivan has become world-renowned for its role in
helping investors, corporate leaders and governments navigate
economic changes and identify disruptive technologies, Mega Trends,
new business models and companies to action, resulting in a
continuous flow of growth opportunities to drive future success.
Contact us: Start the discussion.
Growth Opportunities in the Asia-Pacific B2B Payments Market, Forecast to
2025
9ABE/4D
Contact:
Melissa Tan
Corporate Communications
T: +65 6890 0926
E: melissa.tan@frost.com
http://ww2.frost.com
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SOURCE Frost & Sullivan