Gift Cards Market:
Global Gift Cards Market is valued approximately USD 619 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 15 % over the forecast period 2020-2027. A gift card is a stored value card being used as an alternative source of money in a specific shop or store for goods or services related purchases. Consumers prefer to purchase gift cards, whether in physical as well as digital, across multiple channels (online, in-store, smartphone websites and apps). These gift cards are usually issued by a retailer or bank as an organizational growth plan, attract new customers, raise brand recognition, minimize fraud and boost profits. Increasing use of e-commerce i.e. digital payments / wallets makes tracking, managing and redeeming gift cards easy for customers is one of the prominent factors contributing towards market growth. Apart from this, technological innovation in product offerings are the notable factors positively affecting the gift cards market. For instance, in 2019, InComm Company, in partnership with Razer Inc., launched Google Play Gift Cards in Malaysia, bringing the product to nearly 2,250 7-Eleven stores all over Malaysia. In 2019, CashStar, Inc. launched the Interactive Gift Card Platform, which is anticipated to open up new market opportunities for market players. Companies like Uno Chicago Grill, Travelocity Incentives and Gorham Bike & Ski are mainly engaged in offering interactive gift cards through the CashStar platform. Different kinds of fees associated with card transactions and the lack of security measures compared to credit or debit cards are major restrictions that hamper the growth of the market.
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The regional analysis of global Gift Cards market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America accounted for the largest market in 2019, followed by East Asia, due to the high number of retailers as well as hotel chains in the region. In developing countries and regions, companies are gradually adopting new technologies like hybrid and dual-interface cards. Such kinds of cards provide a number of benefits to commuters, like reducing travel time and improving service efficiency. Asia Pacific is perhaps the most lucrative market for Gift Card due to the existence and use of more gift cards in the region.
Major market player included in this report are:
Blackhawk Network Holdings Inc.
Fidelity National Information Services Inc.
InComm Holdings Inc.
National Gift Card Corp.
Plastek Card Solutions Inc.
Qwikcilver Solutions Pvt. Ltd.
Stored Value Solutions Inc.
Village Roadshow Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Urgent Care Center Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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