What is Global Electronic Gift Card Market?
The Global Electronic Gift Card Market is a rapidly expanding sector that encompasses the sale and use of electronic gift cards. These are essentially prepaid stored-value money cards, usually issued by a retailer or bank, to be used as an alternative to cash for purchases within a particular store or related businesses. They are often given as gifts but are also frequently used by companies to reward employees or thank customers. The market is global, meaning it includes transactions from all over the world, and electronic, indicating that these cards are digital and often delivered via email, app, or other online platforms. The convenience, ease of use, and the increasing shift towards digital transactions have all contributed to the growth of this market.
For Physical Goods, For Service in the Global Electronic Gift Card Market:
The Global Electronic Gift Card Market is divided into two main segments: Physical Goods and Service-based. Physical Goods refer to tangible items that can be purchased with the electronic gift card. This could range from clothing, electronics, groceries, and more, depending on the retailer. On the other hand, Service-based refers to the purchase of services using the electronic gift card. This could include spa services, hotel bookings, dining experiences, and more. The versatility of electronic gift cards makes them an attractive option for consumers, as they can be used for a wide variety of goods and services. This flexibility, coupled with the ease of purchase and use, has contributed to the growth of the electronic gift card market.
Person, Enterprises in the Global Electronic Gift Card Market:
The usage of the Global Electronic Gift Card Market can be broadly categorized into two areas: Person and Enterprises. For individuals, electronic gift cards serve as a convenient and flexible gifting solution. They eliminate the guesswork in gift-giving and allow the recipient to purchase something they truly want or need. For enterprises, electronic gift cards can be used in several ways. They can be given to employees as rewards or incentives, used in promotional campaigns to attract new customers, or offered as refunds for returned goods. The versatility and convenience of electronic gift cards make them a popular choice for both individuals and businesses.
Global Electronic Gift Card Market Outlook:
Looking at the market outlook, the Global Electronic Gift Card Market has shown significant growth and potential. In 2023, the market was valued at a substantial US$ 3419 million. Fast forward to the forecast for 2030, and the market is expected to more than double, reaching an impressive US$ 8752.1 million. This represents a Compound Annual Growth Rate (CAGR) of 16.3% during the period from 2024 to 2030. This growth can be attributed to the increasing popularity and acceptance of electronic gift cards among consumers and businesses alike. The convenience, flexibility, and wide acceptance of these cards make them an attractive option for many, contributing to the growth of the market.
| Report Metric | Details |
| Report Name | Electronic Gift Card Market |
| Accounted market size in 2023 | US$ 3419 million |
| Forecasted market size in 2030 | US$ 8752.1 million |
| CAGR | 16.3% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Amazon, ITunes, Walmart, Google Play, Starbucks, Home Depot, Walgreens, Sephora, Lowes, Carrefour, Sainsbury’s, IKEA, Zara, JD, Ctrip, Blackhawk Network, PayPal Holdings, Inc., Fiserv, Inc., Apple Inc. |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
