Digital Gift Card Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends

What market dynamics are playing a key role in accelerating the growth of the digital gift card market?
The anticipated growth in the digital gift card market is closely tied to an increase in awareness around digital payment options. Digital payments, typically conducted through internet channels, offer an alternative to traditional cash transactions. Gift cards - which can easily be purchased and redeemed in major businesses like grocery stores and solely online retailers - have become a popular digital and contactless payment method. The ease of sending and receiving these cards has significantly boosted their popularity. For instance, a report published by the European Central Bank in January 2024 revealed a 10.1% uptick in non-cash payment transactions in the euro area during the first half of 2023, achieving 67.0 billion. This increase occurred despite a 4.5% decrease in the corresponding total value to €111.4 trillion when compared to 2022. As a result of this growing recognition of digital payments, the digital gift card market is projected to experience substantial growth.

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How will the growth rate of the digital gift card market shape industry trends by 2034?
In recent times, the digital gift card market has seen substantial growth. It is projected to expand from $493.12 billion in 2024 to $583.34 billion in 2025, indicating a compound annual growth rate (CAGR) of 18.3%. The surge during the historical period can be linked to the increase in mobile payments, contactless transactions, the amplification of the gifting culture, the incorporation of social media, and intensified promos during festive seasons and holidays.

The size of the digital gift card market is anticipated to significantly expand in the upcoming years, aiming to reach the mark of $1089.41 billion in 2029 with a compound annual growth rate (CAGR) of 16.9%. The rise in this sector during the projected period can be linked to advanced personalization features, eco-friendliness, inventive options for redemption, compatibility across various platforms, and development in burgeoning markets. Emerging trends over the forecast period encompass the incorporation of mobile apps, services involving subscription-based gifting, augmented reality (AR) ventures, the use of blockchain for security of digital gifts, and programs surrounding corporate gifting.

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What trends are poised to drive the future success of the digital gift card market?
One of the critical trends in the digital gift card market is product innovation. Leading firms in the industry are integrating novel technologies such as giving customers the option to convert cryptocurrency into gift cards for their preferred merchants and incorporating tracking functionalities to prevent card losses. For example, in June 2023, Codego, a fintech firm based in Italy that provides financial solutions, unveiled its crypto gift cards, an innovative product that combines conventional gifting methods with the new-age digital asset world. These pioneering gift cards enable individuals to gift digital assets like Bitcoin and Ethereum smoothly to their dear ones. The procedure entails purchasing these gift cards from online platforms or selected retail outlets, each equipped with a distinctive code representing a fixed cryptocurrency value. Recipients can then redeem these cards using the Codego Giftcard app, which helps them easily keep track of their digital asset balance.

Which primary segments of the digital gift card market are driving growth and industry transformations?
The digital gift card market covered in this report is segmented -

1) By Functional Attribute: Open Loop Gift Card, Closed Loop Gift Card
2) By Business Type: Business To Business (B2B), Business To Consumer (B2C)
3) By Application: Consumer Goods, Health And Wellness, Restaurants And Bars, Travel And Tourism, Media And Entertainment, Other Applications

Subsegments:
1) By Open Loop Gift Card: General Purpose Reloadable Cards, Non-Rechargeable Cards, Multi-Brand Gift Cards
2) By Closed Loop Gift Card: Retailer-Specific Cards, Brand-Specific Cards, Promotional Cards

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Which geographical regions are pioneering growth in the digital gift card market?
North America was the largest region in the digital gift card market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital gift card market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the influential players reshaping the digital gift card market landscape?
Major companies operating in the digital gift card market include Walmart Inc., Amazon.com Inc., Target Brands Inc., American Express Company, PayPal Holdings Inc., Fiserv Inc., Loop Commerce Inc., Blackhawk Network Holdings Inc., InComm Payments, Apple Inc., First Data Corporation, Treatful Inc., Stored Value Solutions, Prezzee, Givex Corporation, Yiftee Inc., Qwikcilver Solutions Pvt Ltd, Tango Card, Giftango Corporation, Buyatab Online Inc., Paytronix Systems Inc., GiftbitInc, GiftRocket Inc., eGifter LLC, Giftogram Inc., Giftly Inc., National Gift Card Group, SVM Global Limited, Giveter Inc., The Gift Card Café LLC, Eagle Eye Solutions Group plc

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What Is Covered In The Digital Gift Card Global Market Report?

•Market Size Forecast: Examine the digital gift card market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the digital gift card market for a structured understanding.
•Key Players Overview: Analyze major players in the digital gift card market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the digital gift card market.
•Segment Contributions: Evaluate how different segments drive overall growth in the digital gift card market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the digital gift card market.
•Industry Challenges: Identify potential risks and obstacles affecting the digital gift card market.
•Competitive Landscape: Review strategic developments in the digital gift card market, including expansions, agreements, and new product launches.

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