AUG 15,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Digital Gift Cards Market.
The Digital Gift Cards Market is expected to grow from USD XX billion in 2020 to USD XX billion by 2026 at a CAGR of over 17.1% during the forecast period.
Market Dynamics
The digital gift cards market is expected to register a CAGR of around 17.1% during the review period.
- The growth of the eCommerce industry coupled with the increasing usage of smartphones is likely to drive the market growth in the coming years.
- Increasing demand for innovative and technologically advanced products is likely to bolster the market growth.
- Rising demand for customized gift cards is likely to create a lucrative opportunity for the market players.
End-User Trends
Based on end-user, the market has been segmented into retail and corporate.
- Increasing adoption of digital gifting trends by retailers is driving the growth of the retail segment.
- The importance of digital gift cards over plastic cards has increased significantly with increasing digitalization and internet access.
- Growing use of digital gift cards as a promotional tool by the corporate players is anticipated to drive the market growth substantially.
Regional Trends
The Asia-Pacific market is projected to register the fastest growth during the forecast period.
Geographically, the market in North America accounted for the largest market share in 2020 owing to high product usage and rising demand for technologically advanced products. This market growth can be attributed to the increasing adoption of digital gift cards in countries such as India and China coupled with the growing popularity of smartphones.
Key Players:
• Auchan Group SA (France),
• Gruppo Eurospin (Italy),
• CRAI Secom S.p.A. (Italy),
• The Schwarz Group (Germany),
• Carrefour S.A. (France),
• Gruppo Coin SpA (Italy),
• Euronics International Ltd. (Netherlands),
• Inter IKEA Systems B.V. (Netherlands),
• Expert International GmbH (Switzerland), and
• Finiper SpA (Italy).
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Digital Gift Cards Market analysis report discusses the following heads in great detail:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors