Dublin, Jan. 22, 2025 (GLOBE NEWSWIRE) -- The "Middle East & Africa Gift Card Market Outlook, 2029" report has been added to ResearchAndMarkets.com's offering.
The Middle East & Africa Gift Card market is anticipated to add to more than USD 46.35 billion by 2024-2029. In the MEA region, the gift card market has seen a rise in digital and virtual gift cards as consumers increasingly turn to online platforms for shopping. This shift is supported by the region's growing internet penetration and mobile payment adoption. Additionally, the popularity of gift cards in corporate incentives and employee rewards programs has increased, as businesses seek ways to engage and motivate their workforce.
Government regulations in some countries, particularly around anti-money laundering and data security, are influencing the design and distribution of gift cards, ensuring that the sector remains compliant with international standards. Technology continues to play a pivotal role, with advancements in digital wallets, contactless payments, and mobile applications streamlining the gifting process.
While no single company dominates the MEA market, several global players, such as Amazon and Visa, maintain a strong presence due to their established brands and partnerships with local retailers. The competitive landscape is also shaped by regional players offering customized solutions to cater to local preferences. As the market continues to grow, more companies are entering the space, capitalizing on the potential of gift cards to become a key component of both consumer spending and corporate strategy.
Market Drivers
- Increase in Cashless Transactions: Cashless payment systems are becoming increasingly popular in the MEA region due to their convenience and security. Gift cards are an essential component of this shift, as they offer a safe and easy way to pay for goods and services. Consumers are increasingly using gift cards for everyday transactions, leading to greater demand. Furthermore, both online and in-store gift card options provide flexibility and ease of use, making them a preferred payment method in cashless societies.
Market Challenges
- Security Concerns and Fraud Risk: One of the major challenges faced by the MEA gift card market is the risk of fraud and cyber threats. As digital payments become more widespread, the risk of hacking, identity theft, and fraudulent activities increases. Consumers and retailers need to ensure robust security systems are in place to protect gift card transactions. Security breaches can lead to significant losses and affect customer trust in using gift cards as a reliable payment method.
- Limited Awareness in Certain Markets: Despite the growing popularity of gift cards in many parts of the MEA region, there is still limited awareness in some markets. Consumers may not fully understand the benefits of gift cards or may be unfamiliar with how to use them effectively. This lack of knowledge can slow down the adoption of gift cards in these areas, especially in smaller or rural markets where digital payment methods are less established. More awareness campaigns are needed to educate the public about the advantages of using gift cards.
Market Trends
- Gift Cards as Corporate Incentives: The use of gift cards as part of corporate incentive programs is rapidly increasing in the MEA region. Companies are leveraging gift cards to reward employees, incentivize sales teams, or as part of promotional activities. This trend is driven by the ease and flexibility gift cards offer, allowing businesses to tailor rewards to individual preferences. As the corporate sector continues to focus on improving employee engagement and customer retention, the demand for gift cards in incentive programs is expected to rise.
Market Segmentation Trends
- Closed-loop gift cards dominate the MEA gift card market due to their flexibility and ease of use
- Retail establishments are the leading end users of gift cards in the MEA region, primarily due to the robust retail sector's ability to leverage gift cards for both customer engagement and revenue generation
- South Africa stands out as the leading country in the MEA gift card market due to its advanced infrastructure, growing e-commerce sector
Aspects Covered in the Report
- Gift Card Market with its value and forecast along with its segments
- Region & country wise Gift Card market analysis
- Application wise Gift Card distribution
- Various drivers and challenges
- On-going trends and developments
- Top profiled companies
- Strategic recommendation
Key Topics Covered:
1. Executive Summary
2. Research Methodology
2.1. Secondary Research
2.2. Primary Data Collection
2.3. Market Formation & Validation
2.4. Report Writing, Quality Check & Delivery
3. Market Structure
3.1. Market Considerate
3.2. Assumptions
3.3. Limitations
3.4. Abbreviations
3.5. Sources
3.6. Definitions
4. Economic /Demographic Snapshot
5. Global Gift Card Market Outlook
5.1. Market Size By Value
5.2. Market Share By Region
5.3. Market Size and Forecast, By Card Types
5.4. Market Size and Forecast, By Sales Channel
5.5. Market Size and Forecast, By End Users
5.6. Market Size and Forecast, By Price Range
6. Middle East & Africa Gift Card Market Outlook
6.1. Market Size By Value
6.2. Market Share By Country
6.3. Market Size and Forecast, By Card Types
6.4. Market Size and Forecast, By Sales Channel
6.5. Market Size and Forecast, By End Users
7. Market Dynamics
7.1. Market Drivers & Opportunities
7.2. Market Restraints & Challenges
7.3. Market Trends
7.4. COVID-19 Effect
7.5. Supply chain Analysis
7.6. Policy & Regulatory Framework
7.7. Industry Experts Views
7.8. UAE Gift Card Market Outlook
7.9. Saudi Arabia Gift Card Market Outlook
7.10. South Africa Gift Card Market Outlook
8. Competitive Landscape
8.1. Competitive Dashboard
8.2. Business Strategies Adopted by Key Players
8.3. Key Players Market Positioning Matrix
8.4. Porter's Five Forces
8.5. Company Profiles
8.5.1. Amazon.com, Inc.
8.5.1.1. Company Snapshot
8.5.1.2. Company Overview
8.5.1.3. Financial Highlights
8.5.1.4. Geographic Insights
8.5.1.5. Business Segment & Performance
8.5.1.6. Product Portfolio
8.5.1.7. Key Executives
8.5.1.8. Strategic Moves & Developments
8.5.2. Fiserv, Inc.
8.5.3. Walmart Inc.
8.5.4. Starbucks Corporation
8.5.5. American Express Company
8.5.6. PayPal, Inc.
8.5.7. Apple Inc
8.5.8. Etsy
8.5.9. Visa Inc.
8.5.10. Mastercard Inc.
8.5.11. H & M Hennes & Mauritz AB
9. Strategic Recommendations
10. Annexure
For more information about this report visit https://www.researchandmarkets.com/r/dvhbs5
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