Gift Card Market Analysis, Revenue, Share, Demand, Growth Rate and Forecast to 2030

The Global Gift Card Market size was valued at USD 615.34 billion in 2019 and is predicted to reach USD 2097.13 billion by 2030, with a CAGR of 11.7% from 2020-2030.

Gift cards are prepaid cards issued by retailers, corporates, banks, or utilized as a promotional tool for endorsing business strategies. These stored value cards are alternative to cash payments for purchasing various good/commodities at designated outlets, thereby making the payment process hassle-free. Gift cards are also offered as gift vouchers, gift certificates, or loyalty cards.

The evolving concept of omni-channel and multi-channel marketing is anticipated to bring an escalation in the growth chart of gift card market over the forecast period.

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Top Companies: First Data Corporation, Fidelity National Information Services, Inc., Blackhawk Network Holdings, Inc., Qwikcilver Solutions Pvt. Ltd., Duracard, Trans Gate Solutions, Documax Inc., Tender Card, and Plastek Card Solutions and others.

Market Dynamics and Trends

The global gift card market has observed a substantial growth in the past few years, and is expected to proliferate in the coming future. This is attributed to increasing consumer preferences to go-digital, increasing purchase of gift-cards from various online-retailers for gifting purposes, and growing trend of corporate gift-cards to reward the employees for their contributions and achievements.

Furthermore, higher penetration of m-commerce and e-commerce businesses, increasing adoption of IoT technologies at domestic, commercial, and industrial front, are expected to propel the growth of gift card market throughout the forecast period.

However, the limited validity of gift cards, redemption at specific premises, fees associated with transactions, and security concerns, are the limiting factors expected to hamper the growth of gift card market during the forecast period.

On contrary, rewards in form of loyalty points, vouchers, or schemes offered by key players to maintain their position in the highly competitive gift card market, as well as increasing penetration of gift cards as promotional tool, specifically by banking & finance sector, are the factors paving the way for several lucrative opportunities in the global gift card market.

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Market Segmentations and Scope of the Study:

The global gift card market share has been analyzed based on product, end user, and geography.

Based on product, the gift card market is segmented into universal accepted open loop, e-gifting, restaurant closed loop, retail closed loop, and miscellaneous closed loop. Based on end user, the gift card market is divided into retail and corporate institutions. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America demonstrates a developed market, and is expected to maintain its dominance in the global gift card market, throughout the forecast period, accounting for the highest market share. This is attributed to presence of advanced telecommunication networks, key market players and well-established hospitality infrastructures in this region.

Asia Pacific region is expected to grow with the highest CAGR values, throughout the forecast period, representing a substantial growth in the global gift card market. This is due to increasing penetration of smart-gadgets, increasing per-capita income, growing e-commerce business, and most importantly, increasing government initiatives encouraging digital payment methods, specifically in the emerging economies.

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