The global digital gift card market size reached US$ 343.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 827 Billion by 2028, exhibiting a growth rate (CAGR) of 15.23% during 2023-2028.
Digital gift cards, also known as e-gift cards, gift certificates, and vouchers, are the electronic versions of regular gift cards that are generally issued by retailers. These cards operate by using gift codes offered by retailers and can be delivered via e-mails or mobile-based applications. Digital gift cards are widely adopted as a part of development strategies for promoting businesses, increasing brand awareness, reducing fraud activities, attracting new customers, etc. As a result, these cards find extensive applications across diverse sectors, including food and beverages, retail, hospitality, consumer electronics, etc.
The elevating levels of digitalization coupled with the increasing penetration of smart devices are primarily driving the demand for digital gift cards. Furthermore, the expanding e-commerce sector has led to the growing adoption of e-gift vouchers for providing unique & attractive product offerings. Additionally, the improving consumer living standards and hectic work schedules are augmenting the need for convenient and easy gifting methods, irrespective of the geographical and time-based limitations. Moreover, the rising popularity of corporate gifting cultures during special occasions, such as birthdays, incentives, festivals, etc., is further bolstering the demand for e-gift cards. Apart from this, the emergence of customized e-gift cards with attached personal images and videos, scheduled delivery options, personalized gift preferences, etc., is also propelling the market growth. Additionally, the growing environmental concerns towards the depletion of natural timber for paper consumption are leading to a gradual shift from paper-based cards towards digital alternatives, which will further continue to drive the global market over the forecast period.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global digital gift card market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on card type, business type, application and end user.
Breakup by Card Type:
- Open Loop Gift Card
- Closed Loop Gift Card
Breakup by Business Type:
- Business to Business (B2B)
- Business to Consumer (B2C)
Breakup by Application:
- Food and Beverage
- Health, Wellness and Beauty
- Apparel, Footwear and Accessories
- Books and Media Products
- Consumer Electronics
- Restaurants and Bars
- Kids Products
Breakup by End User:
- Festival Celebrations
- Special Celebrations
- Corporate Gift
- Employee Prize
- Incentive Program
Breakup by Region:
- North America
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
- Saudi Arabia
The competitive landscape of the industry has also been examined with some of the key players being Amazon.com Inc., American Express Company, Apple Inc., Blackhawk Network Holdings Inc., First Data Corporation, Fiserv Inc., Givex Corporation, InComm Inc., Paytronix Systems, Inc., Qwikcilver Solutions Pvt Ltd (Pine Labs).
|Base Year of the Analysis
||Card Type, Business Type, Application, End User, Region
||North America, Asia Pacific, Europe, Latin America, Middle East and Africa
||United States, Canada, China, India, Japan, South Korea, Australia, Indonesia, United Kingdom, Germany, France, Italy, Spain, Russia, Brazil, Mexico, Turkey, Saudi Arabia
||Amazon.com Inc., American Express Company, Apple Inc., Blackhawk Network Holdings Inc., First Data Corporation, Fiserv Inc., Givex Corporation, InComm Inc., Paytronix Systems, Inc. and Qwikcilver Solutions Pvt Ltd (Pine Labs)
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Key Questions Answered in This Report:
- How has the global digital gift card market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global digital gift card market?
- What are the key regional markets?
- What is the breakup of the market based on the card type?
- What is the breakup of the market based on the business type?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global digital gift card market and who are the key players?
- What is the degree of competition in the industry?