According to the report published by Allied Market Research, the global gift cards market generated $619.25 billion in 2019, and is estimated to reach $1,922.87 billion by 2027, registering a CAGR of 15.4% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Increase in application areas such as banking, hospitality, and retail stores and growing technological innovation in product offerings drive the growth of the global gift cards market. However, various types of fees associated with card transactions hinder the market growth. On the other hand, surge in demand for gift cards from developing economies such as China and India creates new opportunities for the market player in the coming years.
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Covid-19 scenario:
- Due to lockdown in several countries, the tourism and hospitality industry have been affected badly. If market players in the industry cannot sell their services due to the restrictions, they can sell their gift cards on a lower than the nominal value. This will motivate customers to purchase such services and offer a chance to earn for market players.
- The demand for gift card is likely to get affected as their printing and production has been halted amid lockdown due to COVID-19 pandemic situation.
- The revenue generated from the retail establishment segment is likely to increase as retail shops have been allowed to do the business during the lockdown.
The report offers detailed segmentation of the global gift cards market based on card type, end user, and region.
Based on card type, the closed-loop card segment contributed to the largest share in 2019, accounting for more than two-thirds of the total share, and is estimated to maintain its dominant position during the forecast period. However, the open-loop card segment is estimated to portray the highest CAGR of 17.1% during the forecast period.
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Based on end user, the retail establishment segment accounted for the largest share in 2019, holding more than two-thirds of the total share, and is expected to maintain the largest share throughout the forecast period. However, the corporate institutions segment is expected to register the highest CAGR of 16.8% from 2020 to 2027.
Based on region, North America contributed the highest share, accounting for more than two-fifths of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is also expected to grow at the highest CAGR of 17.0% from 2020 to 2027.
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Leading market players analyzed in the research include American Express, Amazon.com, Inc., First Data Corporation, Blackhawk Network Holdings, Inc., Givex Corporation, Fiserv, Inc., NGC US LLC, InComm Inc, Paytronix Systems, Inc, and Qwikcilver Solutions Pvt Ltd.
LTE and 5G Broadcast Market Outlook-2026
4G LTE is the latest technology in the mobile broadband market. LTE can provide a data speed of up to 30 Mbps and LTE Advance can even provide a speed of 100 Mbps. Use of internet in mobile devices such as tablets, phablets, smartphones, and mobile data cards has fueled the adoption of mobile broadband service across the globe. The development of new mobile applications that provide video streaming, video calls, and many other real-time functioning features, has increased the need for high-speed mobile broadband internet.
Increased need for higher data-rates and greater spectral efficiency are the primary factors driving the market growth. Implementation of LTE in the public sectors such as public safety as well as in defence and security further drives the market. These applications require high-speed communication during emergency; therefore, LTE is the best-suited network to feed this need. Furthermore, changing customer preferences and rising demand for high-speed mobile broadband has created a huge potential in the Asia-Pacific market. Telecom operators have planned highest number of LTE installations in these developing countries.
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By End-Use
- Video on demand
- Mobile TV
- Connected Cars
- Emergency Alerts
- Stadiums
- E-Newspapers & E- Magazines
- Radio
- Data Feed & Notifications
- Others
By Technology
- LTE Broadcast
- 5G Broadcast
By Region
- North America (U.S., Canada, Mexico)
- Europe (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
- LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
The major companies in the global LTE and 5G broadcast industry include, KT, Verizon Wireless, China Unicom, Telstra, Reliance (Jio), Qualcomm, Samsung Electronics, Huawei, Cisco, ZTE, and others.
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The LTE and 5G broadcast market is segmented based on technology, end-use, and region. Based on technology, it is categorized into LTE Broadcast, and 5G Broadcast. Based on end-use, it is categorized into video on demand, mobile tv, connected cars, emergency alerts, stadiums, e-newspapers & e- magazines, radio, data feed & notifications, and others. Based on region, it is categorized into Europe, Asia pacific, North America, and LAMEA.
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