Global Gift Cards Market ((By Card Type - Open Loop Gift Card, and Closed Loop Gift Card. By Distribution Channel - Online Retail, Supermarkets and hypermarkets, Corporates, Financial institutions, Restaurant and hotels, Specialty Stores and others (airports, colleges, and many more). By offers – Hospitality, App subscriptions, Entertainment, online shopping, discount shopping and others. By Geography-North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) – Global industry analysis, size, share, growth, trends, and forecast, 2020 – 2028. Post-Covid

The Global Gift Cards Market was $750 Bn in 2020, and it is expected to reach $1,787 Bn by 2028. It is eventually growing at a commendable high compound of annual growth rate CAGR of 11.5% between 2020-2028. However, the current pandemic of COVID-19 might make a slight difference in the growth rate in the present year. The Gift Card Market is majorly driven by technological innovations in product offerings, and rise in application areas such as hospitality, and retail stores. Apart from this, a surge in need for advanced promotional strategies, increasing adoption of smartphones, and growth-related to the e-commerce industry is projected to bolster the global gift card market. Moreover, the rising popularity of gift cards in emerging economies, ease of ordering, and enhanced support services is expected to drive the market growth over the forecast period.

Global Online Shopping Segment Is Estimated to Witness Remarkable Growth during forecast period

Source: SAI Research

The global Gift Cards Market has been segmented into card type, distribution channel, offers and regions. By Card Type, the global Gift Cards Market is divided into Open Loop Gift Card, and Closed Loop Gift Card. By Distribution Channel, the global Gift Cards Market is divided into Online Retail, Supermarkets and hypermarkets, Corporates, Financial institutions, Restaurant and hotels, Specialty Stores and others (airports, colleges, and many more). By offers, the global Gift Cards Market is divided into Hospitality, App subscriptions, Entertainment, online shopping, discount shopping and others. However, Open Loop Gift Card Segment is estimated to witness remarkable growth over the forecast period. The growth is attributed to ease of making purchase at various retail and apparel stores.

By Region, Asia Pacific is Holding the Major Market Share in 2020

The global Gift Cards Market has been geographically segmented into North America, Asia Pacific, Latin America, Middle East, and Africa region. In addition to this, Asia Pacific Gift Cards Market is holding the largest market share currently and is estimated to show the fastest compound annual growth rate in the forecast period due to factors such high level of digital awareness among end-users, and increasing customer base due to intense competition, and discounted offers among leading players. Moreover, the growing demand for e-gift cards is projected to impact the market positively. The European market is also projected to register a significant growth rate over the forecast timeline due to high disposable income and well-established players and distribution channels. North America gift card market is expected to witness sluggish growth over the forecast period due to fragmented and highly penetrated market. The LAMEA market is anticipated to grow significantly in the forecast period from 2020 to 2028

Major Players in Global Gift Cards Market

Some of the key players in the global Gift Cards Market include Amazon.com, Inc., American Express, Blackhawk Network Holdings, Inc., First Data Corporation, Fiserv, Inc., Givex Corporation, InComm Inc., NGC US, LLC, Qwikcilver Solutions Pvt Ltd., and Paytronix Systems, Inc

The Global Gift Cards Market Has Been Segmented into:

Global Gift Cards Market: By Card Type

• Open loop gift card
• Closed loop gift card

Global Gift Cards Market: By Distribution Channel

• Online retail
• Supermarkets and hypermarkets
• Corporates
• BFSI
• Restaurant and hotels
• Specialty stores
• Others (airports, colleges, and many more)

Global Gift Cards Market: By Offers

• Hospitality
• App subscriptions
• Entertainment
• Online shopping
• Discount shopping
• Others

Global Gift Cards Market: By Region

• North America
  • USA
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific
  • India
  • China
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America, Middle East & Africa
  • Brazil
  • South Africa
  • UAE
  • Rest of LAMEA