Digital Payment Awareness Fuels Growth In Gift Card Market Emerges as a Core Driver of the Digital Gift Card Market in 2025

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What Is the Expected CAGR for the Digital Gift Card Market Through 2025?
Recent years have seen a swift expansion in the size of the digital gift card market. Its size is projected to increase from $493.12 billion in 2024 to $583.34 billion in 2025, displaying a compound annual growth rate (CAGR) of 18.3%. Previous growth patterns can be traced back to a surge in mobile payments, the adoption of contactless payments, the rise in a gifting culture, integration with social media, and increased seasonal promotions and holidays.

What's the Projected Size of the Global Digital Gift Card Market by 2029?
The size of the digital gift card market is projected to experience a swift expansion in the coming years, reaching a scale of $1089.41 billion in 2029 with a 16.9% Compound Annual Growth Rate (CAGR). The expected growth during this period is due to factors such as enhanced personalization features, commitment to environmental sustainability, innovative redemption possibilities, compatibility across various platforms, and growth in emerging markets. Key trends in this forecast period encompass integration with mobile applications, subscription-based gift services, augmented reality (AR) experiences, the usage of blockchain for secure digital gifting, and corporate gifting programs.

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Top Growth Drivers in the Digital Gift Card Industry: What's Accelerating the Market?
The continued growth of the digital gift card market is attributed to the rising awareness surrounding digital payments. Digital payments, being transactional payments conducted online devoid of physical money exchanges, are becoming the preferred method of operation. Gift cards have become popular, serving as a digital and contactless payment option particularly at key businesses such as grocery stores and online-exclusive retailers. Their ease of use and dispersal has significantly contributed to their growing popularity. For instance, from a report by the European Central Bank in January 2024, it's shown that non-cash transactions in the euro area saw an increase of 10.1%, reaching 67.0 billion, in the first half of 2023. This occurred even though the total corresponding value decreased by 4.5% to €111.4 trillion compared to the same timeframe in 2022. Thus, the rise in digital payment cognition propels the progression of the digital gift card market.

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What Trends Will Shape the Digital Gift Card Market Through 2029 and Beyond?
Driving product innovation is a prevailing trend in the digital gift card market, with leading companies venturing into new technologies. Such advancements include facilitating customer-enabled cryptocurrency trade with their preferred retailers and using tracking mechanisms to prevent misplacement of cards. For instance, Codego, an Italian fintech firm with a focus on financial solutions, unveiled its crypto gift cards in June 2023. This revolutionary product combines traditional gifting methods with the digital assets universe. These state-of-the-art gift cards make gifting digital assets like Bitcoin and Ethereum to loved ones effortless. The modus operandi involves buying these gift cards online or from selected physical stores, each adorned with an exclusive code mirroring a fixed cryptocurrency value. Recipients can claim these cards via the Codego Giftcard application, providing an easy means to keep track of their digital asset balance.

What Are the Main Segments in the Digital Gift Card Market?
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 Top Companies are Driving Growth in the Digital Gift Card Market?
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

Which Regions Will Dominate the Digital Gift Card Market Through 2029?
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.

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