According to the latest report by IMARC Group, the global digital gift card market grew at a CAGR of around 15% during 2015-2020. Looking forward, the market expects to continue its strong growth during 2021-2026.
Digital gift cards, also known as vouchers, e-gift cards, and gift certificates, refer to the electronic versions of regular gift cards that are usually issued by retailers. These cards function by using gift codes provided by retailers and can be delivered via mobile-based apps or e-mails. Digital gift cards are extensively adopted as a part of development strategies for promoting businesses, reducing fraud activities, increasing brand awareness, attracting new customers, etc. Owing to this, these cards are widely used across diverse sectors, including hospitality, food and beverages, retail, consumer electronics, etc.
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Rapid digitalization across the world, along with the increasing penetration of the internet and smart devices, is primarily driving the market for digital gift cards. Furthermore, the expanding e-commerce sector has resulted in the increased adoption of e-gift vouchers for offering unique & attractive product offerings. Additionally, the elevating consumer living standards, rising disposable income levels, and hectic work schedules are bolstering the need for convenient and easy gifting methods. Moreover, the growing popularity of corporate gifting cultures during special occasions, such as festivals, birthdays, incentives, etc., is further catalyzing the demand for e-gift cards. Apart from this, the emergence of customized e-gift cards with attached personal videos and videos, scheduled delivery, personalized gift preferences, etc., is further augmenting the market growth.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Digital Gift Card Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- 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).
The report has segmented the market on the basis of Card Type, Business Type, Application, End User and Region.
Breakup by Card Type:
Open Loop Gift Card
Closed Loop Gift Card
Breakup by Business Type:
Business to Business (B2B)
Business to Customer (B2C)
Breakup by Application:
Food and Beverage
Health, Wellness and Beauty
Apparel, Footwear and Accessories
Books and Media Products
Restaurants and Bars
Breakup by End User:
Breakup by Region:
Middle East and Africa
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