Gift Card Market Size is Projected to Reach US$ 12,92,523.2 million by 2034: Fact.MR Report
Key Players Offering Personalization and Customization Options for Gift Cards, thus Leaving No Stone Unturned to Optimize Sales of Gift Cards
Rockville , Jan. 10, 2024 (GLOBE NEWSWIRE) -- The global gift card market is assessed at US$ 4,80,560 million in 2024, which is projected to expand at a promising 10.4% CAGR through 2034. The market is anticipated to attain a valuation of US$ 12,92,523.2 million by 2034.The market is expected to expand favorably. In the next ten years, the gift card industry is projected to develop due to quickly expanding consumer-purchasing habits. Circulation of gift cards for employee recognition and awards in commercial sectors is expected to increase, which is projected to propel market growth.
*Get Free Sample Copy of This Report:*
*https://www.factmr.com/connectus/sample?flag=S&rep_id=9502*
The increasing popularity of e-gifting is further projected to propel market growth. Their popularity hinges on the fact that it can be partially redeemed. Surging m-commerce and e-commerce are assisting the market's growth. Demand for gift cards is also rising as it provides personalization and extensive customization options. Thus propelling market growth.
*Report Attribute* *Details*
Value Projection (2034) US$ 12,92,523.2 million
Growth Rate (2024-2034) 10.4% CAGR
No. of pages 170 Pages
No. of Tables 48 Tables
No. of Figures 144 Figures
*“E-gift cards are becoming a hit among consumers. Taking the cue, market players are projected to make innovations in digital cards to stay relevant among modern consumers,"** says a Fact.MR analyst.*
*Key Companies Profiled in This Report*
· Gyft
· Edge Loyalty Systems Pty. Ltd.
· InComm
· Blackhawk Network Holdings, Inc.
· The Up Group
· Edenred Group
· National Gift Card Corporation
· Walmart Stores
· QwickSilver Solutions
· Target Corporation
· Best Buy Company, Inc.
· Starbucks Corporation
· Best Buy Company, Inc.
· Amazon.com, Inc.
· Others*Key Takeaways from the Gift Card Market Study*
· In 2019, the global gift card market recorded a valuation of US$ 3,25,551.1 million.
· The gift card industry in North America is expected to acquire a market share of 35.1% in 2024. Through 2034, the region is projected to expand at a CAGR of 10.1%.
· The East Asia market is anticipated to acquire a value share of 25.3% in 2024. The regional market is expected to register a CAGR of 10.9%.
· Based on type, the e-gift cards are expected to acquire a 51.3% market share in 2024. The segment is projected to expand at a thrilling CAGR of 14.4% over the forecast period.
· Based on the price range, medium (between 200 to 400 US$) segment is expected to obtain a market share of 46.8% in 2024. Value-wise, the segment is projected to acquire a market value of US$ 2,24,902 million in 2024, expanding at a CAGR of 10.8%.*Competitive Landscape*
Leading players in the gift card market are taking proactive measures to deepen their industry penetration for a competitive edge over other firms. Competitors are increasing their business in low- and middle-income countries. Additionally, alliances with independent gift card suppliers are supporting the players to increase their market share.
The main goal of market players is to raise the brand's visibility via aggressive marketing tactics. Only some B2B market players are further marketing few gift card options as tax advantage cards. Moreover, growth in gift card sales in both the business and personal categories is projected to favor the actions and initiatives on the side of suppliers.
*Get Customization on this Report for Specific Research Solutions:*
*https://www.factmr.com/connectus/sample?flag=RC&rep_id=9502*
*Recent Developments in the Gift Card Market *
Binance Gift Card launched a special rewards initiative for merchant partners in October 2022. This initiative invites interested retailers to join during the registration period, completing the specified form. Merchants chosen for this program can later opt to develop Gift Cards and sell them to consumers at a fixed price to enjoy profits while getting extra Gift Card incentives.
Pine Labs merged with Qwikcilver Solutions Private Limited, a digital gift card provider, in September 2022. Therefore, the Qwikcilver’s operations are merged into an individual legal entity, i.e., Pine Labs Private Limited. The existing solutions, products, programs, and platforms of Qwikcilver are expected to continue operating daily.
*Explore More Related Studies Published by Fact.MR Research: *
*Gift Packaging Market: *The global gift packaging market is estimated at USD 27 Billion in 2022 and is forecast to surpass USD 38 Billion by 2032, growing at a CAGR of 3.6% during 2022- 2032.
*Mobile Ticketing Market: *The global mobile ticketing market is estimated to be worth US$ 2,818.9 million in 2024 and is expected to reach a value of US$ 12,125.6 million by 2034.
*Digital Photo Frame Market: *The global digital photo frame market is estimated to be worth US$ 72 million in 2024 and is forecast to reach a value of US$ 115.1 million by 2034.
*About Fact.MR**:*
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
*Contact: *
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
*Sales Team: *sales@factmr.com
*Follow Us: *LinkedIn | Twitter | Blog