Dublin, Aug. 09, 2023 (GLOBE NEWSWIRE) -- The "Global Co-branded Credit Card Market by Vendor Type (Card Issuer, Card Network, Retailer), Credit Card Type (Physical Credit Cards, Virtual Credit Cards), End-User - Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The report provides an analysis of the co-branded credit card market and its projected growth from 2023 to 2030. The market size was estimated at USD 12.34 billion in 2022 and is expected to reach USD 25.72 billion by 2030, growing at a CAGR of 9.61% during the forecast period.
Co-branded credit cards are a combination of store cards and rewards cards, backed by major card issuers or networks. These cards allow consumers to use them like regular credit cards while providing significant merchandise perks, discounts, points, or other rewards. Companies in industries such as airlines, hotels, eCommerce, and fuel are collaborating with banks to offer co-branded cards to their customers for ease of payment and attractive rewards. The rising adoption of credit cards by young and millennial generations and customer interest in attaining discounts and cash-back rewards are major driving factors for the market.
The market is segmented based on vendor type, credit card type, end-users, and regions:
- Vendor Type: The market is studied for Card Issuers, Card Networks, and Retailers. Retailers commanded the largest market share of 39.29% in 2022, followed by Card Issuers.
- Credit Card Type: The market is studied for Physical Credit Cards and Virtual Credit Cards. Physical Credit Cards commanded the largest market share of 90.66% in 2022, followed by Virtual Credit Cards.
- End-User: The market is studied for Education, Gaming, Hospitality, Petroleum, Retail, and Travel. Retail commanded the largest market share of 24.34% in 2022, followed by Travel.
- Region: The market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. Europe, Middle East & Africa commanded the largest market share of 35.87% in 2022, followed by Americas.
The report also highlights the market dynamics, including drivers, restraints, opportunities, and challenges. Some of the key drivers include increasing adoption of co-branded credit cards by companies to provide innovative solutions to customers and rapid expansion in retailer and airline partnerships with financial institutions. However, issues associated with the use of co-branded credit cards and high annual fees may restrain market growth. Nevertheless, ongoing product launches and development of new co-branded credit cards and partnerships with retail and airline companies offer growth opportunities for the market.
The report also includes a market share analysis, competitive assessment & intelligence, and product development & innovation insights. It answers key questions about the market size, forecast, investment opportunities, technology trends, regulatory frameworks, market share of leading vendors, and suitable strategic moves for entering the global co-branded credit card market.
Key Players
The leading companies mentioned in the report include:
- American Express Company
- Bank of America Corporation
- Barclays PLC
- BNP Paribas Group
- Capital One Financial Corporation
- Cardless, Inc.
- Citigroup Inc.
- Concerto Card Company
- Discover Bank
- First Abu Dhabi Bank
- ICICI Bank Limited
- JPMorgan Chase & Co.
- Mastercard International Incorporated
- Scotiabank
- Standard Chartered PLC
- Synchrony Bank
- The Goldman Sachs Group, Inc.
- U.S. Bancorp
- Visa Inc.
- Wells Fargo & Company
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 186 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $13.41 Billion |
| Forecasted Market Value (USD) by 2030 | $25.72 Billion |
| Compound Annual Growth Rate | 9.6% |
| Regions Covered | Global |
Overall, the report provides comprehensive insights into the global co-branded credit card market and its growth prospects, making it a valuable resource for investors, researchers, policymakers, and industry professionals seeking information about the co-branded credit card market and its trends.
For more information about this report visit https://www.researchandmarkets.com/r/8ua5d3
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