Dublin, Dec. 24, 2020 (GLOBE NEWSWIRE) -- The "Gift Card Market by Product, by End User - Global Opportunity Analysis and Industry Forecast, 2020 - 2030" report has been added to ResearchAndMarkets.com's offering.
The Global Gift Card Market size was valued at USD 615.34 billion in 2019 and is predicted to reach USD 2097.13 billion by 2030, with a CAGR of 11.7% from 2020-2030.
The evolving concept of omni-channel and multi-channel marketing is anticipated to bring an escalation in the growth chart of the gift card market over the forecast period.
Market Dynamics and Trends
The global gift card market has observed a substantial growth in the past few years, and is expected to proliferate in the coming future. This is attributed to increasing consumer preferences to go-digital, increasing purchase of gift-cards from various online-retailers for gifting purposes, and growing trend of corporate gift-cards to reward the employees for their contributions and achievements.
Furthermore, higher penetration of m-commerce and e-commerce businesses, increasing adoption of IoT technologies at the domestic, commercial, and industrial front, are expected to propel the growth of the gift card market throughout the forecast period.
However, the limited validity of gift cards, redemption at specific premises, fees associated with transactions, and security concerns, are the limiting factors expected to hamper the growth of the gift card market during the forecast period.
On the contrary, rewards in the form of loyalty points, vouchers, or schemes offered by key players to maintain their position in the highly competitive gift card market, as well as increasing penetration of gift cards as promotional tool, specifically by the banking & finance sector, are the factors paving the way for several lucrative opportunities in the global gift card market.
Market Segmentations and Scope of the Study:
The global gift card market share has been analyzed based on product, end user, and geography.
Based on product, the gift card market is segmented into universal accepted open loop, e-gifting, restaurant closed loop, retail closed loop, and miscellaneous closed loop. Based on end user, the gift card market is divided into retail and corporate institutions. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
North America demonstrates a developed market, and is expected to maintain its dominance in the global gift card market, throughout the forecast period, accounting for the highest market share. This is attributed to the presence of advanced telecommunication networks, key market players and well-established hospitality infrastructures in this region.
Asia Pacific region is expected to grow with the highest CAGR values, throughout the forecast period, representing a substantial growth in the global gift card market. This is due to increasing penetration of smart-gadgets, increasing per-capita income, growing e-commerce business, and most importantly, increasing government initiatives encouraging digital payment methods, specifically in the emerging economies.
Key report benefits:
- The gift card market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.
- The study comprises a deep dive analysis of the gift card market trend including the current and future trends for depicting the prevalent investment pockets in the market.
- The report provides detailed information related to key drivers, restraints and opportunities and their impact on the gift card market.
- The report incorporates competitive analysis of the market players along with their market share in the global gift card market.
- The SWOT analysis and Porters Five Forces model is elaborated in the study of the global gift card market.
- Value chain analysis in the global gift card market study provides a clear picture of the stakeholders' roles.
Key Topics Covered:
1. Introduction
1.1. Report Description
1.2. Research Methodology
2. Market Snapshot, 2019-2030 Million Usd
2.1. Market Snapshot
3. Porter's Five Force Model Analysis
4. Market Dynamics
4.1. Growth Drivers
4.2. Challenges
4.3. Opportunities
5. Global Gift Cards Market, by Card Type
5.1. Overview
5.2. Open Loop Gift Card
5.3. Closed Loop Gift Card
6. Global Gift Cards Market, by Enduser
6.1. Overview
6.2. Retail Establishments
6.3. Corporate Institutions
7. Global Gift Cards Market, by Region
7.1. Overview
7.2. North America
7.3. Europe
7.4. Asia-Pacific
7.5. Rest of World
8. Company Profiles
8.1. Amazon.Com, Inc.
8.2. America Express
8.3. Blackhawk Network Holdings, Inc.
8.4. First Data Corporation
8.5. Fiserv, Inc.
8.6. Givex Corporation
8.7. Incomm Inc.
8.8. Qwikcilver Solutions Pvt Ltd
8.9. Ngc US, LLC
8.10. Paytronix Systems, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/cb7dlj
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