DUBLIN, January 17, 2022--(BUSINESS WIRE)--The "Digital Gift Card Market by Functional Attribute, End User and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
A digital gift card is similar to a prepaid digital wallet that consists of a specific amount of money that can be used for purchasing goods. Many digital gift cards have certain limit i.e., minimum and maximum initial loading amount. For instance, minimum amount is $10 and maximum is $500.
Generally, digital gift cards are used to pay for a portion of a purchase with mobile payment, debit, or credit to balance the expense. As a precaution to mitigate the risk of losses, many digital gift cards are registered online, which allows the remaining balance to be tracked and frozen if a card is lost. Digital gift cards provide more security as compared to cash and are easily traceable, which can avoid fraudulent activities
Rise in adoption of advance technologies in the payment sector and surge in awareness of digital payment across the globe are the major factors that propel the market growth. In addition, high adoption of smartphones and rise in adoption of digital gift cards by corporate offices & financial institutions further fuel the growth of the digital gift cards market. However, security concerns with respect to digital gift cards is expected to hamper the market growth. Furthermore, surge in demand for digital gift cards from developing countries is expected to offer lucrative opportunities for the market in the upcoming years.
The digital gift card market is categorized on the basis of functional attribute, end user, application and region. Depending on functional attribute, the market is classified into open-loop card and closed-loop card. By end user, it is analyzed across retail and corporate. Based on the application, the market is divided into consumer goods, health & wellness, restaurants & bars, travel & tourism, media & entertainment and others. By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA, along with its prominent countries.
The study provides an in-depth analysis of the global digital gift card market forecast along with the current trends and future estimations to explain the imminent investment pockets.
Information about key drivers, restraints, & opportunities and their impact analysis on the global market is provided in the report.
Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2021 to 2030 is provided to determine the market potential.
Rise in demand for advanced payment solutions
High adoption rate of smartphones
Increase in demand for innovative products
Lack of security
Surge in demand for digital gift cards from developing countries
Key Market Segments
By Functional Attribute
Open loop gift card
Closed loop gift card
By End user
Health & Wellness
Restaurants & Bars
Travel & Tourism
Media & Entertainment
Rest of Europe
Rest of Asia-Pacific
Blackhawk Network Holdings, Inc.
Loop Commerce, Inc.
National Gift Card Corporation
PayPal Holdings, Inc.
Target Brands, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/w3863p
View source version on businesswire.com: https://www.businesswire.com/news/home/20220117005213/en/
Laura Wood, Senior Press Manager
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