The gift card market size was USD 807.96 billion in 2017 and is estimated to reach USD 843.11 billion, progressing at a CAGR of 12.87 by 2027. The growth of the e-commerce sector is a key factor driving the gift card market growth.
Technavio publishes the new report on “Gift Card Market by type (e-gifts cards and physical gift cards), distribution channel (offline and online), and geography (APAC, North America, Europe, Middle East and Africa, and South America).” The gift card market growth by the E-gifts cards segment will be significant during the forecast period.
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The gift card market structure is fragmented in nature and the vendors are deploying growth strategies such as acquisitions, product launches, and others to promote their businesses in the global market. Some of the major gift card market are:
Based on geography, the gift card market is segmented across APAC, North America, Europe, Middle East and Africa, and South America. North America is projected to contribute 40% of the gift card market size by 2027. Inherent push for gift cards and gifting initiatives in the organized retail sector, including e-retail is one of the key driver for the gift card market growth in North America.
Factors such as rise in consumer retail spending, better e-commerce strategies, and relatively low inflation will increase the growth of the retail sector in the region.
The growth of the e-commerce sector is a key factor driving the gift card market value.
The rise of open-loop gift cards is the major gift card market trend which will positively influence market growth.
Use of gift cards may result in additional loss of money which is the major challenge to the gift card market size.
Technavio’s research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the gift card market. Download the PDF Sample Report
YOY growth rate of the gift card market.
A diversified analysis of the market’s competitive landscape and detailed information about vendors.
Accurate prediction about upcoming trends and changes in consumer behavior across APAC, North America, Europe, Middle East and Africa, and South America.
Comprehensive details of factors that will impact the growth of gift card market vendors.