Digital Gift Card Market Foreseen to Draw a Promising Growth of $1.5 trillion by 2032

Allied Market Research published a report, titled, "Digital Gift card Market by Channel (Brick and Mortor and Digital (E-commerce and Loyalty)), Transaction Type (B2B and B2C), Card Type (Closed Loop (Dining, Fashion, Travel, Gaming, Betting, and Others) and Open Loop (Visa Card, Master Card, and Others)), Application Area (Consumer Goods, Health and Wellness, Restaurants and Bars, Travel and Tourism, Media and Entertainment, and Others), End User (Retail Establishments (Generation Z or Millennials, Generation X, and Baby Boomers) and Corporate Institutions), and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2032" According to the report, the global generated $341.9 billion in 2022, and is estimated to reach $ 1.5 trillion by 2032, witnessing a CAGR of 16.3% from 2023 to 2032. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂:
https://www.alliedmarketresearch.com/request-sample/A09990

Drivers, Restraints, and Opportunities-

The key factors that impact the growth of the global digital gift card market are acceptance of smartphones and increase in demand for advanced payment options. However, security issues affect the market growth to some extent. Conversely, increased enthusiasm for revolutionary products is expected to influence the market growth during the forecast period.

Covid-19 scenario-

The COVID-19 outbreak had shifted the preference from cash payments to digital payment; thus, the digital gift card market experienced substantial growth.
In addition, the popularity of digital gift cards, particularly among companies, incresed and anticipated to continue driving growth momentum for the digital gift card sector as governments implemented lockdown to stop the spread of virus.
Furthermore, firms were using digital gift cards more frequently as a perk for their staff and business partners because of the widespread adoption of work-from-home strategies across a variety of industry verticals.
The global digital gift card market witnessed notable growth during the COVID-19 pandemic as a result of new rules being implemented by governments in many regions to speed up the expansion of electronic payments in their individual nations.

View Full Report: https://www.alliedmarketresearch.com/digital-gift-cards-market-A09990

The digital segment to rule the market-

By channel, the digital segment held the major share in 2022, garnering around three- fifths of the global digital gift card market revenue. The same segment would also showcase the fastest CAGR of 17.5% during the forecast period. The adoption of these solutions is further aided by the automated capabilities and improved visibility that digital immune technologies provide for identifying and thwarting threats.

The B2C segment to maintain its dominance during the forecast period

By transaction type, the B2C segment contributed to the highest share in 2022, accounting for nearly three-fifths of the global digital gift card market revenue. The same segment would also showcase the fastest CAGR of 17.5% throughout the forecast period, owing to seamless integration which enhances the customer experience and encourages gift card usage. Customers can store and manage their gift cards conveniently within their mobile devices, making them easily accessible during in-store or online purchases. Moreover, B2C companies often launch special digital gift card campaigns during peak shopping seasons such as Black Friday, Cyber Monday, or holiday seasons.

The closed loop segment to maintain its dominance during the forecast period

By card type, the closed loop segment contributed to the highest share in 2022, accounting for more than three-fifths of the global digital gift card market revenue. A surge in demand for cloud-based machine learning is anticipated to present profitable prospects for market expansion. In addition, a rise in demand for software-as-a-closed-loop cards is anticipated to create profitable chances for the market's expansion due to its many advantages, including scalability and one-time client acquisition cost. However, the open loop segment would also showcase the fastest CAGR of 18.1% throughout the forecast period, owing to the fact that they were readily available and simple to use when conducting online purchasing during the pandemic. In addition, it is anticipated that greater use of credit cards, digital cards, and open-loop gift cards will lead to new breakthroughs in the payments sector, opening up a variety of prospects for this market in the years to come.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧:
https://www.alliedmarketresearch.com/request-for-customization/A09990

The consumer goods segment to maintain its dominance during the forecast period

By application area, the consumer goods segment contributed to the highest share in 2022, accounting for nearly one-third of the global digital gift card market revenue, owing to increased digitalization in the e-commerce sector and the accessibility of mobile e-commerce stores. However, the travel and tourism segment would also showcase the fastest CAGR of 21.6% throughout the forecast period, owing to the expansion of the global tourism industry. Travelers utilize digital gift cards as a short-term payment method to facilitate currency exchange and real-time money transfers across cards.

The retail establishments segment to dominate by 2032

By end user, the retail establishments segment accounted for nearly two-thirds of the global digital gift card market share in 2022, and is expected to rule the boost by 2032, owing to increasing trend in consumer shopping, a large number of shops provide distinctive gift cards to satisfy a variety of client needs. A major driving force in the market's expansion is the rise in the use of closed-loop gift cards in the retail sector, which is due to the continued use of their branded currencies in multichannel commerce. However, the corporate institutions segment would also display the fastest CAGR of 18.2% throughout the forecast period, owing remote workers as the number of work-from-home company models rises.

North America garnered the major share in 2022

By region, North America garnered the highest share in 2022, holding more than two-fifths of the global Digital gift card market revenue in 2022, and is projected to retain its dominance by 2032, owing to the growing e-commerce industry has sparked a rise in the use of digital gift cards to offer distinctive and alluring product offerings. However, the Asia-Pacific region would also portray the fastest CAGR of 18.7% during the forecast period, owing to rise in digital gift card purchasing at online shops and investments in Al to give personalized digital gift cards, the usage of digital gift cards has increased substantially and is expected to continue in China.

Leading Market Players-

➡️Amazon.Com, Inc.
➡️Apple Inc.
➡️Blackhawk Network
➡️Fiserv, Inc.
➡️Incomm Payments Llc
➡️Loop Commerce, Inc.
➡️NGC US, Llc.
➡️Paypal Holdings, Inc.
➡️Target Brands, Inc.
➡️Walmart

The report analyzes these key players in the global digital gift card market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

Key findings of the study

➡️By channel, the brick and motar segment led the digital gift card market trends in terms of revenue in 2022.
➡️By transaction type, the B2C segment led the digital gift card market in terms of revenue in 2022.
➡️By end user, the retail establishment segment dominated the digital gift card market growth in 2022.
➡️By region, North America generated the highest revenue in 2022.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠:
https://www.alliedmarketresearch.com/purchase-enquiry/A09990

Digital Gift Card Market Report Highlights

By Channel

Brick and Mortor
Digital
E-commerce
Loyalty

By Transaction Type
B2B
B2C
Closed Loop
Dining
Fashion
Travel
Gaming
Betting
Others

By Card Type

Open Loop
Visa Card
Master Card
Others

By Application Area
Consumer Goods
Health and Wellness
Restaurants and Bars
Travel and Tourism
Media and Entertainment
Others

By End Users,
Retail Establishments
Generation Z or Millennials
Generation X
Baby Boomers
Corporate Institutions

By Region
North America (U.S., Canada)
Europe (UK, Germany, France, Netherlands, Spain, Italy, Nordic Countries, Rest of Europe)
Asia-Pacific (China, India, Japan, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)

Key Market Players :
Apple Inc., PayPal Holdings, Inc., Walmart, InComm Payments LLC, Fiserv, Inc., Loop Commerce, Inc., Blackhawk Network, NGC US, LLC., Amazon.com, Inc., Target Brands, Inc.

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