Asia Pacific Digital Gift Card Market Size, Share & Industry Trends Analysis Report By Functional Attribute (Closed-loop Card and Open-loop Card), By End User (Retail and Corporate), By Application, By Country and Growth Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Asia Pacific Digital Gift Card Market
Market Report Description
The Asia Pacific Digital Gift Card Market would witness market growth of 15.1% CAGR during the forecast period (2022-2028).
A gift card may make things easier and help keep clients if they have a negative experience with your items or want to file a return or refund. This will increase customer retention. Sustainability is our sixth major advantage for a business using digital gift card options. All companies must demonstrate how they are addressing sustainability, which is not always simple, especially for smaller companies.
Retailers are able to operate this part of their company without the use of paper or plastic by choosing a digital gift card solution. Gift cards are ordered online by customers, and recipients also receive and use them online. Additionally, there are still many opportunities for brand identification and message to be included in the digital experience.
One of the markets for online shopping that is growing the fastest is India. Indian e-commerce had a value of $46.2 billion in 2020, and by 2026, it is projected to have increased by 18.29 percent to $136.47 billion. Both e-commerce activity and the usage of electronic payment methods are rising. This sales channel has been progressively gaining momentum, but it increased during the COVID-19 epidemic.
The China market dominated the Asia Pacific Digital Gift Card Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $63,664 Million by 2028.The Japan market is estimated to grow a CAGR of 14.4% during (2022 - 2028). Additionally, The India market would experience a CAGR of 15.8% during (2022 - 2028).
Based on Functional Attribute, the market is segmented into Closed-loop Card and Open-loop Card. Based on End User, the market is segmented into Retail and Corporate. Based on Application, the market is segmented into Consumer Goods, Health & Wellness, Restaurants & Bars, Travel & Tourism, Media & Entertainment and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Digital Gift Card Market is Projected to reach USD 724.3 Billion by 2028, at a CAGR of 14.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Apple, Inc., Fiserv, Inc., PayPal Holdings, Inc., Walmart, Inc., Amazon.com, Inc., Target Corporation (Target Brands, Inc.), Loop Commerce, Inc (Synchrony Financial), InComm Payments, and Blackhawk Network Holdings, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Functional Attribute
- Closed-loop Card
- Open-loop Card
By End User
- Retail
- Corporate
By Application
- Consumer Goods
- Health & Wellness
- Restaurants & Bars
- Travel & Tourism
- Media & Entertainment
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Apple, Inc.
- Fiserv, Inc.
- PayPal Holdings, Inc.
- Walmart, Inc.
- Amazon.com, Inc.
- Target Corporation (Target Brands, Inc.)
- Loop Commerce, Inc (Synchrony Financial)
- InComm Payments
- Blackhawk Network Holdings, Inc.
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Related Reports:
Global Digital Gift Card Market Report 2022-2028
North America Digital Gift Card Market Report 2022-2028