New York, Feb. 13, 2023 (GLOBE NEWSWIRE) -- According to the report published by Next Move Strategy Consulting, the global gift card market generated USD 884.8 million in 2021 and is expected to reach USD 2097.13 million by 2030, growing at a CAGR of 8.3% from 2022 to 2030. The research provides a detailed analysis of the drivers, restraints, and opportunities in order to highlight the changing market dynamics of the industry. To identify the segments that are growing the fastest and generating the most revenue, the research also offers a thorough analysis of the major segments and their sub-segments.
The report aims to be a source of guidance for market players, investors, and startups as they devise strategies for the coming years to achieve sustainable growth. It provides a detailed analysis of every aspect of the gift card industry in 118 pages, along with 96 tables and 64 figures. Moreover, the research outlines the COVID-19 analysis to highlight the impact on the Gift Card Market share.
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| Report Coverage | Details |
| Forecast Period | 2022–2030 |
| Base Year | 2021 |
| Market Size in 2021 | USD 884.8 Million |
| Market Size in 2030 | USD 2097.13 Million |
| CAGR | 8.3% |
| No. of Pages | 118 |
| Tables | 96 |
| Figures | 64 |
| Segments covered | Type, End Use Industry, and Region. |
| Drivers | The rise in the e-commerce sector |
| High adoption of e-gift card by travel agencies and airlines. | |
| The surge in smartphone and internet penetration | |
| Opportunities | Advancements in technology create market opportunities. |
| Innovation in gift card to track revenue and ensure security. |
The report provides a comprehensive analysis of global Gift Card Market dynamics based on drivers, restraining factors, and opportunities. An increase in smartphone penetration, development in the e-commerce sector, and widespread use of gift card as promotional tool boosts the growth of the gift card industry. However, the risk of being hacked by hackers and the lack of awareness regarding the benefits of gift card restrain the market growth.
Lead Analyst for the BFSA at Next Move Strategy Consulting, stated, “The advancements in technology enable significant developments for businesses as well as flexible sending options and promotional campaigns that assist organizations to increase sales, and others create new opportunities in the coming years.”
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Europe accounted for the highest market share in 2021 and is estimated to maintain its dominance throughout the forecast period. This is due to the increase in technological innovations in gift card that enable high sales in companies and help them in revenue generation by making them unique and attractive. However, North America is anticipated to grow steadily over the course of the forecast period due to the increased consumer adoption of smartphones, which makes it possible to manage digital gift card using mobile applications.
The research offers an analysis of each region and its countries based on segments and their sub-segments to outline steps to be taken to consolidate presence in the gift card industry. This analysis is also helpful in determining highest-revenue-generating and fastest-growing segments and taking the next steps accordingly
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The report offers an extensive analysis of the competitive landscape of the global Gift Card Market Leading players in gift card manufacturing include Amazon.com, Inc, Apple Inc, American Express Company, Blackhawk Network Holdings, Inc, Best Buy Co., Inc., Walmart Inc., Starbucks Corporation, InComm Payments, Chipotle Mexican Grill Inc, and QwikCilver Solutions Private Limited.
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Next Move Strategy Consulting is a premier market research and management consulting firm committed to providing its clients with strategically analyzed, well-documented latest research reports. The research industry is flooded with many firms to choose from. What makes Next Move different from the rest is its top-quality research and the obsession with turning data into knowledge by dissecting every bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals, and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients make critical business decisions that enable them to move beyond time and have a competitive edge in the industry.
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