Digital Gift Cards Market to Reach $1101.03 Billion, Globally, by 2030 at 15.8% CAGR | Emerging Trends & Developments

Allied Market Research published a report, titled, "Digital Gift Card Market by Functional Attribute (Open-Loop Card and Closed-Loop Card), End User (Retail and Corporate) and Application (Consumer Goods, Health & Wellness, Restaurants & Bars, Travel & Tourism, Media & Entertainment and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030". According to the report, the global digital gift cards industry generated $258.34 billion in 2020, and is anticipated to generate $1101.03 billion by 2030, witnessing a CAGR of 15.8% from 2021 to 2030.

☑𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂 :
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Prime determinants of growth
Rise in demand for advanced payment solutions, high adoption rate of smartphones, and increase in demand for innovative products drive the growth of the global digital gift cards market. However, Lack of security hinders the market growth. On the other hand, surge in demand for digital gift cards from developing countries presents new opportunities in the coming years.

Covid-19 Scenario

The outbreak of the Covid-19 pandemic has had a positive impact on the global digital gift cards market, owing to increase in adoption of digital gift cards among businesses.
Moreover, the overall gift card industry witnessed high growth during the COVID-19 pandemic, as governments across several regions imposed new regulations to accelerate growth of electronic payments in respective countries.
The retail segment to maintain its leadership status throughout the forecast period

Based on end user, the retail segment held the highest market share in 2020, accounting for three-fifths of the global digital gift cards market, and is estimated to maintain its leadership status throughout the forecast period. This is due to increase in consumers trends & preferences toward shopping at the retail store fuels. However, corporate segment is projected to manifest the highest CAGR of 17.2% from 2021 to 2030, owing to increase in awareness among the business owner to deliver gift cads to their employees.

☑𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐖𝐞 𝐨𝐟𝐟𝐞𝐫 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐬 𝐩𝐞𝐫 𝐲𝐨𝐮𝐫 𝐫𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭 :
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The consumer goods segment to maintain its lead position during the forecast period

Based on application, the consumer goods segment accounted for the largest share in 2020, contributing to more than one-fourth of the global digital gift cards market, and is projected to maintain its lead position during the forecast period. This is due to availability of large number of digital payment technology among the people to accept gift card digitally. Moreover, the travel & tourism segment is expected to portray the largest CAGR of 19.2% from 2021 to 2030, owing to meet the requirements of the travelers by allowing access to a vast array of choices to many destinations.

North America to maintain its dominance by 2030

Based on region, North America held the highest market share in terms of revenue 2020, accounting for more than two-fifths of the global digital gift cards market. This is due to rise in popularity of corporate gifting cultures during special occasions, such as birthdays, incentives, festivals, etc. However, the Asia-Pacific region is expected to witness the fastest CAGR of 17.2% from 2021 to 2030, owing to surge in adoption of these cards for online purchases, traveling, and distribution among children as cash alternative.

Leading Market Players:-

Amazon.com, Inc.
Apple, Inc.
Blackhawk Network Holdings, Inc.
Fiserv, Inc.
InComm Payments
Loop Commerce, Inc.
National Gift Card Corporation
PayPal Holdings, Inc.
Target Brands, Inc.
Walmart Inc.

☑𝐁𝐮𝐲 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐭 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭𝐞𝐝 𝐏𝐫𝐢𝐜𝐞 @ https://www.alliedmarketresearch.com/checkout-final/7c6a83a054f711ecdbb6e340120c1e2a?utm_source=AMR&utm_medium=research&utm_campaign=P19623

Prime Benefits:
1. The report includes Porter's Five Forces analysis to understand the ability of buyers and suppliers to allow business investors to make strategic decisions.
2. The study offers a detailed analysis of the ongoing market trends, market size, and forecast of the digital gift card market during the period 2023-2032.
3. The report includes the potential of the market across various regions along with revenue contribution.
4. The study provides an in-depth analysis of the major market players in the digital gift card market.

Major Offering of the Report:
1. Major impacting factors: An in-depth analysis of driving factors, upcoming opportunities, and challenges.
2. Ongoing trends & forecasts: A thorough study in recent market trends, happenings, and forecasts for the next few years to take a strategic, informed decision.
3. Segmental analysis: A detailed analysis of each segment and driving factors coupled with growth rate analysis.
4. Regional analysis: Insights on the market potential across each region to enable market players to leverage market opportunities.
5. Competitive landscape: An in-depth analysis of every key market player active in the digital gift card market.

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