Credit Card Market 2021 Global Outlook - Citibank, The American Express Company, Mastercard Incorporated, Visa Inc

The Credit Card Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

The global credit card market is expected to grow from $100.05 billion in 2020 to $103.06 billion in 2021 at a compound annual growth rate (CAGR) of 3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $107.69 billion in 2025 at a CAGR of 1.1%.

Get Free Sample Copy of this Report:

https://www.marketinsightsreports.com/reports/08103167002/credit-card-global-market-report-2021-covid-19-impact-and-recovery-to-2030-including-1-by-type-reward-card-credit-builder-card-travel-credit-card-balance-transfer-card-others-2-by-card-type-base-signature-platinum-3-by-service-provider-visa-matercard-rupay-others-covering-citibank-the-american-express-company-mastercard-incorporated-visa-inc-jpmorgan-chase-co/inquiry?Mode=AD                                                        

Top Leading Companies of Credit Card Market are Citibank, The American Express Company, Mastercard Incorporated, Visa Inc., JPMorgan Chase & Co., Mango Financial Inc., BBVA Compass Bancshares Inc, Total System Services Inc, The PNC Financial Services Group Inc., Capital One Financial Corporation, The Bank of America Corporation, Wells Fargo, Discover Bank, HDFC Bank Ltd., SBI Card and Payment Services Limited, ICICI Bank Limited, Axis Bank Limited, Bank of Baroda and others.

Market Trends

The impact of COVID-19 on a new credit card is expected to hinder the growth of the credit card market. Consumers are dialing back on applying for credit cards and reducing balances as there are fewer chances to spend money due to economic recession. Also, digitally-focused businesses such as Apple, which announced the satisfactory acceptance of its Apple Card, noticed lower spending across the board. According to data from Equifax's Weekly U.S. National, Consumer Credit Trends published in July 2019, general-purpose bank credit card approvals average were around 1.2 million new cards per week until mid-March. The new accounts opened dropped to 672,000 by the week of March 29 and continued to decline to less than 500,000 new cards a week. Therefore, the impact of the COVID-19 recession restrains the growth of the credit card market.

In January 2018, Scotiabank, a Canada-based financial services company announced that its Colombian subsidiary, Banco Colpatria Multibanca Colpatria S.A. (Banco Colpatria), acquired the consumer (retail and credit card) and small and medium enterprise operations of Citibank in Colombia for an undisclosed amount. Through this acquisition, Citibank will allow Scotiabank to serve new customers in Colombia and to increase scale within the Colombian banking sector, as well as the other Pacific Alliance economies of Mexico, Chile, and Peru. Citibank, a USA based financial services company engaged in providing a wide range of credit card, baking, investment, and wealth management services.

Regional Outlook of Credit Card Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.

Browse Full Report at:

https://www.marketinsightsreports.com/reports/08103167002/credit-card-global-market-report-2021-covid-19-impact-and-recovery-to-2030-including-1-by-type-reward-card-credit-builder-card-travel-credit-card-balance-transfer-card-others-2-by-card-type-base-signature-platinum-3-by-service-provider-visa-matercard-rupay-others-covering-citibank-the-american-express-company-mastercard-incorporated-visa-inc-jpmorgan-chase-co?Mode=AD                                                                

What Are The Market Factors That Are Explained In The Report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

Analytical Tools: The Credit Card Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.

Please connect with our sales team (sales@marketinsightsreports.com).

Contact US:
Irfan Tamboli (Head of Sales) : Market Insights Reports
Phone: + 1704 266 3234 | Mob: +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com

About Us:

MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

This release was published on openPR.