Shaping the Future of Gifting: Global Digital Gift Card Market Insights

January 04, 2024 07:30 AM PST | By EIN Presswire

Google News:

Shaping the Future of Gifting: Global Digital Gift Card Market Insights — Image source: EIN Presswire

Recent News

SLV ETF inflows surge as silver price rally accelerates

RBI turns neutral after sharp rate cut; ING expects another easing lat...

AB Launches on Binance

Trade war poses greater threat than COVID for emerging market central...

LONDON, GREATER LONDON, UK, January 4, 2024 /EINPresswire.com/ -- The global digital gift card market is set for substantial growth, expanding from $342.66 billion in 2022 to $405.17 billion in 2023, with a robust compound annual growth rate (CAGR) of 18.2%. The market's upward trajectory is expected to persist, reaching $740.41 billion in 2027, driven by a continued CAGR of 16.3%.

Catalyst for Growth: Surge in Digital Payment Awareness
The digital gift card market is propelled by the increasing awareness of digital payments, transforming how consumers engage in transactions. Digital payments, conducted through online channels, have become integral, with gift cards serving as a quick and convenient digital and contactless payment option. This surge is exemplified by the Ministry of Electronics & IT's report, revealing a significant rise in digital payment transactions in India, from 3,134 crores ($3.96 million) in FY 2018–19 to 5,554 crores ($7.02 million) in FY 2020–21. Notably, in 2021, 82% of Americans adopted digital payments, reflecting the widespread use of in-store mobile phone checkout, QR code payments, and online transactions. The simplicity and contactless nature of digital gift cards contribute to their popularity as a preferred payment method.

Explore the Global Digital Gift Card Market with a Detailed Sample Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7736&type=smp

Key Market Players: Pioneers in Digital Gifting
Major players in the digital gift card market include Amazon.com Inc., Apple Inc., Blackhawk Network Holdings Inc., Fiserv Inc., InComm Payments, Loop Commerce Inc., Qwikcilver Solutions Pvt Ltd., PayPal Holdings Inc., Target Brands Inc., Walmart Inc., American Express Company, First Data Corporation, Givex Corporation, and Paytronix Systems Inc.

Innovation at the Forefront: Product Innovations Driving Market Trends
Product innovation emerges as a key trend, with companies introducing groundbreaking technologies to enhance the digital gift card experience. Notable examples include Cross Tower's launch of a digital gift card feature based on cryptocurrencies, enabling Indian users to personalize and share cryptocurrency-backed gift cards. This innovative approach allows users to trade cryptocurrency into their preferred retailers and ensures the security of digital cards. Such advancements showcase the industry's commitment to offering novel and secure gifting options.

Regional Landscape: North America Leading, Asia-Pacific Pioneering Growth
North America stands as the largest region in the digital gift card market in 2022, reflecting early adoption and market dominance. However, Asia-Pacific is poised to witness the fastest growth in the forecast period, highlighting the region's increasing interest in digital gift card solutions. The comprehensive regions covered in the market analysis report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Market Segmentation: Tailoring Gift Cards for Diverse Needs
The global digital gift card market is segmented based on key attributes:
•Functional Attribute: Open Loop Gift Card, Closed Loop Gift Card
•Business Type: Business to Business (B2B), Business to Consumer (B2C)
•Application: Consumer Goods, Health and Wellness, Restaurants and Bars, Travel and Tourism, Media and Entertainment, Other Applications

Access the Complete Report for In-Depth Analysis:
https://www.thebusinessresearchcompany.com/report/digital-gift-card-global-market-report

Digital Gift Card Global Market Report 2023 from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Digital Gift Card Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on digital gift card market size, digital gift card market drivers and trends, digital gift card market major players, digital gift card market competitors' revenues, digital gift card market positioning, and digital gift card market growth across geographies. The digital gift card market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

Browse Through More Similar Reports By The Business Research Company:
Prepaid Card Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/prepaid-card-global-market-report

Loyalty Management Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/loyalty-management-global-market-report

E-Commerce Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/ecommerce-global-market-report

About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 6500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Global Market Model – Market Intelligence Database
The Global Market Model, The Business Research Company’s flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess supply-demand gaps.

Contact Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: [email protected]

Check out our:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Oliver Guirdham
The Business Research Company
+44 20 7193 0708
[email protected]
Visit us on social media:
Facebook
Twitter
LinkedIn

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.