Gift Cards Market Report: A Comprehensive Analysis of the Industry’s Growth and Trends

Gift Cards Market: Comprehensive Analysis, Segmental Insights and Forecast by 2032

Gift Cards Market Size

Straits Research has released a new report on the global Gift Cards Market, providing an in-depth analysis of the industry’s growth prospects, trends, and challenges. According to the report, the global Gift Cards Market size was valued at USD 1327.80 Billion in 2023 and is projected to reach USD 5,208.45 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 16.4% during the forecast period (2024-2032).

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Drivers in the Gift Cards Market

The growth of the Gift Cards Market can be attributed to several factors, including:

Increasing demand for digital gift cards

Rising adoption of online payment systems

Growing popularity of e-commerce platforms

Increasing focus on customer loyalty and retention programs

Key Developments in the Gift Cards Market

Some of the key developments in the Gift Cards Market include:

The rise of mobile wallets and contactless payment systems

The increasing use of artificial intelligence (AI) and machine learning (ML) in gift card platforms

The growth of the B2B gift card market

The increasing focus on sustainability and eco-friendliness in gift card production

Top Key Players in the Gift Cards Market

Some of the top key players in the Gift Cards Market include:

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American Express Company

Blackhawk Network Holdings Inc

Fiserv Inc

Givex Corporation

InComm Payments

PayPal Inc

Paytronix Systems Inc

Qwikcilver Solutions Pvt Ltd

Walmart Inc

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Segmentation Analysis of the Gift Cards Market

The Gift Cards Market can be segmented into several categories, including:

By Type: Closed Loop Gift Card, Open Loop Gift Card, and E-Gifting

By End-User: Retail Establishments and Corporate Institutions

By Merchant Type: Restaurants, Department Stores, Grocery Stores, and others

By Price Range: High (Above 400 US$), Medium (200-400 US$), and Low (0-200 US$)

By Sales Channel: Online and Offline

Market Segmentation: https://straitsresearch.com/report/gift-cards-market/segmentation

Regional Analysis of the Gift Cards Market

The Gift Cards Market can be segmented into several regions, including:

North America

Europe

Asia-Pacific

Latin America

Middle East and Africa

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Conclusion

The Gift Cards Market is expected to witness significant growth in the coming years, driven by the increasing demand for digital gift cards, the rising adoption of online payment systems, and the growing popularity of e-commerce platforms. The market is highly competitive, with several key players operating in the space. As the market continues to evolve, it is likely to present several opportunities for growth and innovation.

About Straits Research

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