According to a recent report published by Allied Market Research, titled, “Digital Gift Card Market by Functional Attribute, End-user and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global digital gift card industry size was valued at $ 258.34 billion in 2020, and is projected to reach $1,101.03 billion by 2030, growing at a CAGR of 15.8% from 2021 to 2030.
The digital gift card market share is categorized on the basis of functional attribute, end user, application and region. Depending on functional attribute, the market is classified into open-loop card and closed-loop card. By end user, it is analyzed across retail and corporate. Based on the application, the market is divided into consumer goods, health & wellness, restaurants & bars, travel & tourism, media & entertainment and others. Finally, by region, the market is evaluated across Europe, LAMEA, Asia-Pacific, and North America. The province across North America is broken down into the United States, Mexico, and Canada. Europe indexes countries such as the United Kingdom, Italy, France, Spain, Germany, and rest of Europe. Concurrently, Asia-Pacific consists of countries such as South Korea, India, Japan, China, and rest of Asia-Pacific. Finally, LAMEA is classified into Africa, the Middle East, and Latin America.
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Major Impacting Factors: Analysis of the Market Scenario, Current Trends, and Drivers
The factors that are projected to boost/impede the demand for Digital Gift Cards Market are evaluated in the study. Additionally, the Covid-19 impact on the growth of the market has also been thoroughly explained. Last but not the least; the potential factors that are expected to offer lucrative opportunities for the market players and are projected to play a pivotal role in the market development are discussed throughout the study.
Covid-19 Impact Analysis
The outbreak of the pandemic has significantly affected the majority industry verticals across the world. The report has covered the overall impact of COVID-19 on the Digital Gift Cards Market, providing a detailed study of the scenario. It further doles out the significant market slants & tactics incorporated by the frontrunners throughout the pandemic. Additionally, the report sums up how COVID-19 has taken hold of the supply chain. The Digital Gift Cards Market also presents how the roll-out of mass vaccination has become highly favorable to the Digital Gift Cards Market. Lastly, the post Covid-19 scenario is also detailed out in the report.
The Main Points Covered in the Digital Gift Cards Market
- The Digital Gift Cards Market study offers a wide-ranging study with regard to the major industry participants.
- Porter’s five forces analysis aids in defining the potential suppliers & buyers and the viable picture of the shareholders for strategy development.
- A lot of developing as well as developed countries have been outlined in line with their individual revenue support to the regional market.
- The report, finally, focuses on the recent market trends of the global Digital Gift Cards Market to get into the dominant opportunities and prospective investment pockets.
- The major drivers, restraints, and opportunities and their thorough impact study are also included in the report.
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Major market players
The report includes a detailed analysis of top players in the Digital Gift Cards Market including Amazon.com, Inc., Apple, Inc., Blackhawk Network Holdings, Inc., Fiserv, Inc., InComm Payments, Loop Commerce, Inc., National Gift Card Corporation, PayPal Holdings, Inc., Target Brands, Inc. and Walmart Inc.
The competitive analysis of these companies offers a detailed business overview, portfolio analysis of services and products. These companies have adopted various strategies such as partnership, joint ventures, new product launches, mergers & acquisitions, and collaboration to maintain a foothold in the market and help stakeholders understand the market.
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