PORTLAND, OREGON, UNITED STATES, December 5, 2021 /EINPresswire.com/ — Digital gift cards are similar to digital wallets; however, these cards are funded in advance and named as stored value cards. The convenience, flexibility, reliability, and security of these cards make them popular among consumers for payments. These cards represent a relatively small but, important part of electronic payments. According to the National Retail Federation in 2019, consumers planned to purchase three or four gift cards at an average amount of $47 per card, for a total of $27.5 billion during the 2019 holiday season. Thus, rise in number of such developments across the globe drives the growth of the market.
Allied Market Research published a report, titled, “Digital Gift Card Market by Functional Attribute (Open-Loop Card and Closed-Loop Card), End User (Retail and Corporate) and Application (Consumer Goods, Health & Wellness, Restaurants & Bars, Travel & Tourism, Media & Entertainment and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030.”
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The Digital Gift Cards Market report provides a comprehensive study of major driving factors that impact the market along with an analysis of top 10 market players, recent market developments, and pivotal trends. The report covers a detailed study of major determinants of the global market such as drivers, challenges, restraints, and upcoming opportunities.
The Digital Gift Cards Market study outlines the latest driving factors of the market along with prime challenges in the market growth. Moreover, the study includes the analysis of restraining factors that affect market growth. This analysis helps major stakeholders and new business entrants to understand the market dynamics and formulate strategies to maintain their foothold in the market and gain an advantage using the lucrative opportunities in the market.
The Digital Gift Cards Market report offers detailed information regarding major end-users of the market and annual forecast during the forecast period. In addition, it provides an accurate revenue forecast for every year along with sales growth. These forecasts are offered by skilled analysts in the Digital Gift Cards Market and after a thorough study of the market across various regions of the market. Thus, these forecasts are a vital source of information for understanding the lucrative prospects of the industry.
The report offers an in-depth analysis of the Covid-19 impact on the Digital Gift Cards Market. Since the Covid-19 outbreak, several countries closed their borders to curb the spread of infection and imposed strict regulations regarding lockdown and social distancing. This disrupted the supply chain of the Digital Gift Cards Market. Moreover, the lack of workforce and operation of manufacturing factories at half of their capacity negatively affected the market. However, the majority of the governments across the globe have launched vaccination drives, which will help the market to get back on track.
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The Digital Gift Cards Market growth is studied across several regions and the report highlights several factors that affect the market performance across these regions including North America (United States, Canada, and Mexico), Asia-Pacific (China, Japan, Korea, India, and Southeast Asia), Europe (Germany, France, UK, Russia, and Italy), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa).
The Digital Gift Cards Market report includes a comprehensive analysis of the top 10 market players that are currently leading the market. In addition, the study includes a thorough financial analysis, SWOT profile, business strategies, recently launched products & services, and business overview of the market players. The report covers recent market developments including market expansion, partnerships & collaborations, mergers & acquisitions, and new product launches. This analysis stakeholders and new business entrants to understand the latest market trends and formulate new business strategies.
The key market players analyzed in the report are Amazon.com, Inc., Apple, Inc., Blackhawk Network Holdings, Inc., Fiserv, Inc., InComm Payments, Loop Commerce, Inc., National Gift Card Corporation, PayPal Holdings, Inc., Target Brands, Inc. and Walmart Inc.
Key offering of the Report:
1. Key driving factors: An in-depth study of the dynamic factors such as drivers, restraints, challenges, and opportunities
2. Current market trends & forecasts: A comprehensive study of the Digital Gift Cards Market along with recent market trends and forecasts during the forecast period to help customers make an informed decision and formulate lucrative business strategies
3. Segmental Analysis: A study of each segment coupled with driving factors and growth rate analysis of every segment
4. Geographical analysis: An in-depth analysis of the market across several geographical regions that help market players to leverage fruitful market opportunities
5. Competitive landscape: A study of prime market players that are currently leading the Digital Gift Cards Market
Prime Benefits from this Research Report:
1. The report includes Porter’s Five Forces analysis, SWOT analysis to understand the ability of buyers and suppliers, which enables business investors to devise sound, fruitful business decisions.
2. The study covers a detailed study of the latest market trends and market size coupled with Digital Gift Cards Market forecast during the forecast period.
3. The report offers an analysis of the potential of the market across various geographical regions along with revenue contribution.
4. The study includes a detailed analysis of the key market players that are active in the market.
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Key Market Segments
By Functional Attribute
• Open loop gift card
• Closed loop gift card
By End user
• Generation X
• Generation Z/Millennials
• Baby Boomers
• Consumer Goods
• Health & Wellness
• Restaurants & Bars
• Travel & Tourism
• Media & Entertainment
• North America
o Nordic Countries
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
o Latin America
o Middle East