Key Forces Shaping Gift Cards Market 2027

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Gift Cards Market
Key players in the market have major
opportunities such as to increase sales by
introducing new innovative gift cards and
providing excellent consumer services. In
addition, due to an unprecedented COVID-19
pandemic, e-Commerce activities have tremendously
increase and therefore, demand for eGift cards is
continuing to rise in the market.
Pramod Borasi Research Analyst, BFSI at Allied
Market Research
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Gift Cards Market
According to a recent report published by Allied
Market Research, titled, Gift Cards Market by
Card Type and End User Opportunity Analysis and
Industry Forecast, 2020-2027, the global gift
cards market size was valued at 619.25 billion
in 2019, and is projected to reach 2,076.51
billion by 2027, growing at a CAGR of 16.2 from
2020 to 2027. Gift cards are also known as gift
certificates, gift vouchers, and gift tokens,
which are generally issued by a retailer or bank
as a developmental strategy used for promoting
businesses, attract new customers, increase brand
awareness, reduce fraud, and improve sales.
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Gift Cards Market
North America is the highest revenue contributor
across the globe owing to increase in government
initiatives for adoption of digital payments
alternatives for cash in many sectors such as
hospitality, banking, corporate institutions, and
retailers. Technological innovations in product
offerings, rise in adoption of digital gift cards
by the retail industry in the U.S. Canada, and
promotion of gift card programs through
omnichannel drive the gifts card market growth in
these countries.  Furthermore, North America has
one of the most advanced and well-established
payment infrastructures globally, which drives
the gift cards market trends in the region.
Moreover, gift card vendors have started
investing in Asia-Pacific, owing to improved
Information and Communication Technologies (ICT)
infrastructure in majority of countries such as
China, India, Malaysia, Australia, and Japan,
which creates lucrative opportunities for the
gift cards market in Asia-Pacific. On the basis
of end user, the corporate institutions segment
is the fastest growing segment in 2019, and is
projected to maintain its dominance during the
forecast period. Majority of businesses are
increasingly using gift cards as a reward tool
for multiple groups, which is expected to create
significant opportunities for the market during
the forecast period.
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Gift Cards Market

• Key Findings of the Study
• By card type, the closed-loop card segment led
  the gift cards market size, in terms of revenue
  in 2019.
• By end user, the retail establishments segment
  accounted for the highest gift cards market share
  in 2019.
• By region, North America generated the highest
  revenue in 2019.

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Gift Cards Market

• Major Companies
• Amazon, Inc.
• American Express Company
• Blackhawk Network Holdings, Inc.
• Fiserv, Inc.
• Givex Corporation
• InComm Payments
• PayPal, Inc.
• Paytronix Systems, Inc.
• Qwikcilver Solutions Pvt Ltd.
• Walmart Inc.

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Gift Cards Market
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