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Global Cards Market 2023 - Top Players, Growth Rate, Industry Share, Future Growth And Outlook By 2032
Cards Market
The Business Research Company's Cards Global Market Report 2023 identifies rising demand for credit cards as the major driver for the Cards market's growth in the forecast period. The rise in demand for consumer credit products tends to be very apparent in an economic crisis during COVID-19 outbreak, where pay delays and job losses are feasible, and the outstanding credit card balance indicates that individuals are borrowing to cover their daily expenses.
The global cards market will grow from $271.51 billion in 2022 to $291.18 billion in 2023 at a compound annual growth rate (CAGR) of 7.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global cards market is expected to grow to $390.54 billion in 2027 at a CAGR of 7.6%.
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Major competitors in the Cards market are Citibank, Mastercard Incorporated, The American Express Company, Visa Inc., JPMorgan Chase & Co., Kaiku Finance LLC.
A key trend in the Cards market includes technological innovations. Major corporations are concentrating on offering digital prepaid card services in emerging economies to attract a large consumer base for prepaid credit cards. For example, in June 2020, in collaboration with the Mastercard alliance, Grab Holdings, Inc., a multinational ride-hailing company based in Singapore, launched a new card to facilitate cashless payments in the Philippines. With the card linked to Grab's prepaid wallet, which includes 53 million global merchants that accept Mastercard, users can pay for anything online.
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The Cards market is segmented -
• By Type: General Purpose, Private Label
• By Usage: General-purpose Re-loadable Card, Government Benefit/Disbursement Card, Payroll Card, Other Usage
• By End User: Retail Establishments, Corporate Institutions, Government, Financial Institutions, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Cards market.
The Business Research Company's "Global Cards Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Cards Market Include:
1. Executive Summary
2. Cards Market Characteristics
3. Cards Market Trends And Strategies
4. Cards Market - Macro Economic Scenario
5. Cards Market Size And Growth
………………………….
26. Africa Cards Market
27. Cards Market Competitive Landscape And Company Profiles
29. Key Mergers And Acquisitions In The Cards Market
29. Cards Market Future Outlook and Potential Analysis
30. Appendix
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