Global Digital Gift Card Market Forecast To Reach $932.11 Billion By 2028 With 17.1% Annual Growth

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The digital gift card market has experienced significant growth in recent years. It is projected to expand from $418.74 billion in 2023 to $495.05 billion in 2024, with a compound annual growth rate (CAGR) of 18.2%. This growth can be attributed to the rise in mobile and contactless payments, a growing gifting culture, social media integration, and increased seasonal promotions and holidays.

How Big Is the Global Digital Gift Card Market Expected to Grow, and What Is Its Annual Growth Rate?
The digital gift card market is projected to experience rapid growth in the coming years, reaching $932.11 billion by 2028 with a compound annual growth rate (CAGR) of 17.1%. This growth is driven by factors such as improved personalization features, environmental sustainability, innovative redemption options, cross-platform compatibility, and expansion into emerging markets. Key trends during the forecast period include mobile app integration, subscription-based gifting services, augmented reality (AR) experiences, the use of blockchain for digital gift security, and the growth of corporate gifting programs.

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What Is Driving the Growth of the Digital Gift Card Market?
The growing awareness of digital payments is expected to drive the growth of the digital gift card market in the coming years. Digital payments are transactions made through digital or internet channels without the need for physical cash. Gift cards are quickly bought and used at essential businesses such as grocery stores and online retailers, offering a convenient digital and contactless payment option. The ease of sending and using digital gift cards as a contactless payment method has contributed to their rising popularity.
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Which Leading Companies Are Driving The Growth Of The Digital Gift Card Market Share?
Major companies operating in the digital gift card market report are Walmart Inc., Amazon.com Inc., Target Brands Inc., American Express Company, PayPal Holdings Inc., Fiserv Inc., Loop Commerce Inc., Blackhawk Network Holdings Inc., InComm Payments, Apple Inc., First Data Corporation, Treatful Inc.

What Are The Key Trends Driving The Growth Of The Digital Gift Card Market Size?
Product innovation is a key trend gaining traction in the digital gift card market. Leading companies in the market are adopting new technologies, such as enabling customers to convert cryptocurrency into gift cards for their preferred retailers and implementing tracking systems to prevent cards from getting lost.
How Is the Global Digital Gift Card Market Segmented?
1) By Functional Attribute: Open Loop Gift Card, Closed Loop Gift Card
2) By Business Type: Business to Business (B2B), Business to Consumer (B2C)
3) By Application: Consumer Goods, Health and Wellness, Restaurants and Bars, Travel and Tourism, Media and Entertainment, Other Applications

North America: The Leading Region in the Digital Gift Card Market
North America was the largest region in the digital gift card market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital gift card global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
What Is the Digital Gift Card Market?
Digital gift cards can be delivered to the recipient's email and redeemed online or in physical stores. They are the electronic equivalent of traditional gift cards. Often, digital gift cards are used as part of strategies to promote businesses, increase brand visibility, reduce fraud, and attract new customers. They serve as an alternative payment method for products and services at a particular store or business.
The Digital Gift Card Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Digital Gift Card Market Report: Trends, Opportunities, Strategies, and More
The Digital Gift Card Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into digital gift card market size, digital gift card market drivers and trends, digital gift card global market major players, digital gift card competitors' revenues, digital gift card global market positioning, and digital gift card market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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