Unlocking Opportunities in the Cards Market: 2025-2034 Forecast Report

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What Is the Expected CAGR for the Cards Market Through 2025?
The market size for cards has seen significant growth in the past few years. Predictions indicate that it will expand from a value of $324.2 billion in 2024 to $348.59 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.5%. Factors that have influenced this growth in the historical period include the emergence of magnetic stripe cards, modernization of the banking system, the expansion of ATM networks, deployment of EMV chip cards, and the introduction of loyalty and reward programs.

What's the Projected Size of the Global Cards Market by 2029?
The market size for cards is anticipated to experience substantial expansion in the coming years, crescendoing to $465.83 billion in 2029, at a compound annual growth rate (CAGR) of 7.5%. The projected growth during this forecast period is due in large part to several factors, such as eco-friendly sustainability practices, integration into IoT devices, fintech revolution, advances in loyalty programs and improved security protocols. Furthermore, major emerging trends during the forecast period encompass the adoption of biometric authentication, swift expansion of contactless payments, wider adoption of mobile wallets, the emergence of digital-only cards and customized loyalty programs.

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Top Growth Drivers in the Cards Industry: What's Accelerating the Market?
Anticipated to propel the card market's expansion is the increasing requirement for credit cards during the forecast period. The swelling call for consumer credit products is especially noticeable during an economic quandary, such as that brought about by the COVID-19 pandemic, where potential pay disruptions and job redundancies exist, and the outstanding credit card balance suggests that individuals are taking loans to meet their daily expenditures. For instance, as per the Federal Reserve Bank of New York, an organization not governed by the U.S., in November 2022, credit cards are the most prevalent type of debt in the U.S., boasting over 500 million active accounts with 191 million Americans having a minimum of one card. By the age of 25, approximately 73% of Americans possess a credit card, indicative of intricate decisions pertaining to spending, saving, and loaning. Consequently, the burgeoning demand for credit cards propels the card market's growth.

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What Trends Will Shape the Cards Market Through 2029 and Beyond?
Leading organizations in the card market are introducing innovative and environment-friendly products like debit cards crafted from ROBP as a response to the surging demand for sustainable solutions. ROBP-derived debit cards are green payment cards made from Recovered Ocean-Bound Plastic. For example, Federal Bank, a private banking enterprise based in India, rolled out new RuPay-Supported NCMC Wallet Debit Cards in February 2024. The RuPay Contactless Debit Card facilitates swift transactions at NCMC compatible terminals such as at bus stations and metros by simply touching the card to a reader. It allows for stored-value payments up to Rs. 2000 (in compliance with RBI rules), enhancing ease of commute by bringing various transportation payment methods under one digital umbrella. The cardholders must activate the "contactless feature" through mobile banking, online banking or IVR for offline transactions linked with NCMC. Post-activation, funds can be loaded at metro customer care desks via cash or saving account. Once the card is topped up, it can be tapped at entry and exit points, thereby bypassing the requirement of separate ticket buying. The remaining balance can be easily seen on the terminal screen.

What Are the Main Segments in the Cards Market?
The cards market covered in this report is segmented -

1) By Type: General Purpose, Private Label
2) By Usage: General-purpose Re-loadable Card, Government Benefit/Disbursement Card, Payroll Card, Other Usage
3) By End User: Retail Establishments, Corporate Institutions, Government, Financial Institutions, Other End-Users

Subsegments:
1) By General Purpose: Credit Cards, Debit Cards, Prepaid Cards, Travel And Entertainment Cards
2) By Private Label: Store-Branded Credit Cards, Retailer-Specific Debit Cards, Loyalty Program Cards

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Which Top Companies are Driving Growth in the Cards Market?
Major companies operating in the cards market include JP Morgan Chase & Co., The Bank of America Corporation, Bank of Baroda Ltd., Citibank NA, Wells Fargo & Company, American Express Company, United Services Automobile Association, Capital One Financial Corporation, Barclays US, Visa Inc., BBVA Compass Bancshares Inc., PayPal Holdings Inc., The PNC Financial Services Group Inc., Mastercard Incorporated, HDFC Bank Ltd., ICICI Bank Limited, Discover Financial Services, SBI Cards and Payment Services Limited, Axis Bank Limited, Ebay Inc., The Western Union Company, Total System Services Inc., Mango Financial Inc., Navy Federal Credit Union, Green Dot Corporation, NetSpend Holdings Inc., UniRush LLC, Pentagon Federal Credit Union, Kaiku Finance LLC

Which Regions Will Dominate the Cards Market Through 2029?
Asia-Pacific was the largest region in the cards market in 2024. Western Europe was the second largest region in the global card market share. The regions covered in the cards market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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