- Size, Trend, Share, Opportunity Analysis & Forecast, 2014-2025
Progressive Markets published a report, Gift Cards Market - Size, Trend, Share, Opportunity Analysis & Forecast, 2014-2025, which says that the market is estimated at USD $ 465020.0 million in 2014 and projected to reach USD $ 2170936.8 million by 2025, at a CAGR of 15.54% during the forecast period.
An alternative to money, gift cards are used in a store or business for the purchase of goods or services. These stored value cards are usually issued by a retailer or a bank as a developmental strategy used for promoting a function. Gift cards can be used at selected or group outlets depending on the issuing authority.
Market Drivers and Restraints:
The report includes the drivers and restraints that affect the rise and fall of the gift cards market. The rise in demand for technologically advanced products, growing demand for cashless transactions, the rise in application areas among end users, increased spending capacity of consumers, the growing adoption rate of smartphones, and the growth associated with e-commerce and m-commerce industry are propelling the industry growth. Moreover, increase in popularity of these cards during traveling expenditures helps in fueling the market growth. Nonetheless, each factor has its definite impact on the market.
The report studies the gifts card market based on its segmentation. The market is segmented based on functional attribute, industry vertical, and geography. Based on the functional attribute, the industry is bifurcated into open loop and closed loop. Based on industry vertical, the market is divided into retail and corporate institutions. Geographically, the gift cards market analysis covers North America, Europe, Asia-Pacific, and LAMEA. In North America, the research analysis covers the U.S., Canada, and Mexico. In Europe, the analysis covers UK, Germany, France, and others. In Asia-Pacific, the market analysis covers India, China, Japan, and the rest of Asia-Pacific. In LAMEA, the research analysis covers Latin America, Middle East, and Africa.
Key Market Players:
The report includes a mention of the key players operating in the gift cards market. They include First Data Corporation, Qwikcilver Solutions Pvt. Ltd., National Gift Card Corp., Blackhawk Network Holdings, Inc., Plastek Card Solutions, Inc., Duracard, DOCUMAX INC., Vantiv TenderCard, and TransGate Solutions. Strategies adopted by them such as mergers and acquisitions, partnerships, launches and more to survive and grow in the market.
Key Benefits from the Report:
The gift cards market report provides a thorough analysis of the entire industry, covering the gift cards market size, gift cards market share analysis, gift cards market trends, key market segments, market drivers and restraints, gift cards market outlook, Porters analysis, gift cards industry statistics, market forecast, and company profiles. The information in the report is a result of an extensive primary and secondary research as well as expert opinions from industry leaders. The study covers the current market scenario, market landscape, and growth prospects of the gift cards market over the years to come. It is a useful resource for industry players, new entrants, and investors as it helps them gain important insights on the latest happenings of the industry, and thereby make informed decisions and devise strategies to meet their business goals. The market size explains the overall potential of the gift cards industry. The market share analysis helps determine how the players are performing as compared to their competitors. The market dynamics which includes the drivers and restraints play an important role in the growth and fall of the market. The gift cards market forecast is based on the current and past market trends. The Porters analysis highlights the potency of buyers and suppliers to allow stakeholders make sound business decisions and strengthen their supplier-buyer network. It comprises the five forces such as the bargaining power of buyers, the bargaining power of suppliers, threat from substitutes, threat of new entrants, and industry rivalry. The report provides an extensive analysis of the current trends and estimations of the entire gift cards industry. The report also provides information about the players operating in the market who adopt several strategies to grow and survive in the market.
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