05-16-2019 06:03 AM CET - Leisure, Entertainment, Miscellaneous

Gift Cards Market insights to 2027 by key players First Data Corporation, Qwikcilver Solutions, National Gift Card, Blackhawk Network Holdings, Plastek Card Solutions, Duracard

Press release from: Premium Market Insights

The global gift cards market was valued at $679,743 million in 2016, and is projected to reach $3,003,320 million by 2023, growing at a CAGR of 24.0% from 2017 to 2023.The gift cards market is expected to experience significant growth during the forecast period, owing to technological innovation in product offerings, increase in application areas among end users, increased market for prepaid cards and rise in need for advanced promotional strategies. Also high adoption rate of smartphones, growth associated with e-commerce and m-commerce industry, increased spending capacity of consumers, and flexibility associated with ease of use feature drive the global gift cards market.

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The major players operating in the gift cards market are First Data Corporation, Qwikcilver Solutions Pvt. Ltd., National Gift Card Corp., Blackhawk Network Holdings, Inc., Plastek Card Solutions, Inc., Duracard, DOCUMAX INC., Vantiv, TenderCard, TransGate Solutions, and others.

The global gift cards market is segmented based on functional attribute, industry vertical, and region. Based on functional attribute, it is bifurcated into open loop and closed loop. Based on industry vertical, it is divided into retail and corporate institutions. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The retail business segment contributed the highest share in 2016. This segment accounted for $431,833 million in 2016, and is projected to grow at the CAGR of 15.0% during the forecast period. However, the gift cards market for corporate institutions segment is projected to grow at the highest rate of 17.3%.

Europe generated the highest revenue in 2016 due to adequate technological development for the adoption of gift cards. The Asia-Pacific gift cards market is expected to grow at the highest rate during the forecast period, owing to the growth of retail industry, remarkable economic growth in Southeast Asia, India, & other economies and growth in trend of integrated payment technologies.

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Table Of Contents

Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Global Gift Cards Market, By Type
Chapter 5: Global Gift Cards Market, By Industry Vertical
Chapter 6: Gift Cards Market, By Region
Chapter 7: Company Profiles

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This release was published on openPR.
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