The Global Digital Gift Card Market will Hit $724.3 Billion by 2028, at a CAGR of 14.2%

Published Date: 20-Jan-2023

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Digital Gift Card Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Digital Gift Card Market size is expected to reach $724.3 billion by 2028, rising at a market growth of 14.2% CAGR during the forecast period.

The Open-loop Card segment is showcasing a CAGR of 15.1% during (2022 - 2028). These cards resemble credit cards, are not tied to any one company, and are widely accepted. They use payment card processing platforms from Visa and MasterCard. As more consumers may find it more simple to get a gift card that may be used anywhere of their choosing, the demand for such cards is rising.

The Retail segment is leading the Global Digital Gift Card Market by End-User in 2021 thereby, achieving a market value of $436.4 billion by 2028. This is a result of changes in consumer behavior and trends toward purchasing in physical stores. The creation of a brand-new sales channel is another fantastic advantage of digital gift card solutions. Customers who come to buy the primary goods will also buy other items on digital gift cards for their loved ones, friends, and coworkers, creating a new income stream. More revenue for merchants and a wider selection of customers.

The Restaurants & Bars segment has shown the growth rate of 14.7% during (2022 - 2028). For a number of reasons, selling gift cards in the restaurant industry is a wise move. Since customers often spend more at restaurants than the amount of the gift card when they redeem it, they assist company owners in generating quick cash, increasing the number of customers, and increasing revenue.

The North America market dominated the Global Digital Gift Card Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $234 billion by 2028.The Europe market is experiencing a CAGR of 13.5% during (2022 - 2028). Additionally, The Asia Pacific market would display a CAGR of 15.1% during (2022 - 2028).

Full Report: https://www.kbvresearch.com/digital-gift-card-market/

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.

Global Digital Gift Card Market Segmentation

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 Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Companies Profiled

  • 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.

Unique Offerings from KBV Research

  • Exhaustive coverage
  • The highest number of Market tables and figures
  • Subscription-based model available
  • Guaranteed best price
  • Assured post sales research support with 10% customization free

Related Reports:

North America Digital Gift Card Market size & Opportunities 2022-2028

Europe Digital Gift Card Market & Growth Forecast 2022-2028

Asia Pacific Digital Gift Card Market Share & Industry Outlook to 2028

LAMEA Digital Gift Card Market Growth, Trends & Forecasts 2022-2028

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