Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Digital Gift Card Market Size is Expected to Grow from USD 270.25 Billion in 2023 to USD 1192.05 Billion by 2033, at a CAGR 16.00% during the forecast period 2023-2033.
Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Digital Gift Card Market Size, Share, and COVID-19 Impact Analysis, By Card Type (Closed Loop, Open Loop), By Distribution Channel (Online, Offline), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
A digital gift card, also known as an e-gift card, is a prepaid card available in digital form rather than as a physical card. The recipient receives a unique code or link that can be used to make purchases at participating businesses, either online or in-store. The digital gift card market is driven by several factors. The rise of online shopping has increased demand for digital gift cards due to their convenience for purchase and delivery. Additionally, the growing popularity of digital payment methods, such as mobile wallets and online transactions, has contributed to the market's expansion. Digital gift cards can also be customized with messages, themes, and other options, making them more appealing to consumers. Furthermore, businesses are increasingly incorporating digital gift cards into their rewards, recognition, and loyalty programs. However, certain challenges may hinder the growth of the digital gift card market. Issues such as refund fraud, card number theft, and physical tampering can pose risks. Additionally, security concerns may impact consumer confidence and limit market growth.
The closed loop segment is anticipated to hold the highest market share during the projected timeframe.
Based on the card type, the digital gift card market is divided into closed loop, open loop. Among these, the closed loop segment is anticipated to hold the highest market share during the projected timeframe, primarily because of its ability to create a more controlled spending environment for consumers. Closed loop gift cards, which can only be redeemed at specific retailers or brands, often come with benefits such as loyalty rewards and promotional offers, making them attractive to both consumers and businesses. As brands continue to leverage these gift cards as a marketing tool to enhance customer loyalty and drive in-store traffic, their popularity is expected to surge, solidifying their leading position in the market.
The online segment is predicted to hold the largest market share through the forecast period.
Based on the distribution channel, the digital gift card market is classified into online, offline. Among these, the online segment is predicted to hold the largest market share through the forecast period. This is due to the increasing consumer preference for the convenience and immediacy of digital transactions. As more consumers turn to e-commerce platforms for their shopping needs, the accessibility and ease of purchasing digital gift cards online become major factors driving market growth. Additionally, the expansion of mobile payment solutions and the rising penetration of smartphones contribute to the online segment's dominance, enabling users to seamlessly buy and send gift cards with just a few taps.
North America is estimated to hold the largest share of the digital gift card market over the forecast period.
North America is estimated to hold the largest share of the digital gift card market over the forecast period, driven by a high adoption rate of digital payment methods and a robust e-commerce ecosystem. The region's advanced technological infrastructure, coupled with a strong consumer inclination towards online shopping, facilitates the growth of digital gift card transactions. Additionally, major retailers in North America are increasingly offering digital gift cards as a convenient gifting option, further boosting their market presence and appealing to a wide demographic.
Europe is expected to grow the fastest during the forecast period, driven by rising consumer demand for digital payment solutions and innovative gifting options. The increasing popularity of e-commerce across various sectors, alongside a growing acceptance of digital gift cards as a versatile gifting solution, positions Europe for rapid market expansion. Furthermore, initiatives by European retailers to enhance customer engagement through personalized gift card offerings and loyalty programs are likely to accelerate growth, making the region a key player in the digital gift card market.
Company Profiling
Major key players in the digital gift card market includes Starbucks, iTunes Gifting, Blackhawk Network, Target, Visa Gift Card, Vanilla Gift, Netspend, Google Play, Incomm, Cash Star, H, Stage Stores, Walmart, Apple iTunes, Amazon and others.
Recent Developments
Key Target Audience
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the digital gift card market based on the below-mentioned segments:
Global Digital Gift Card Market, By Card Type
Global Digital Gift Card Market, By Distribution Channel
Global Digital Gift Card Market, By Regional Analysis
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