Every busy shopper knows the benefits of the gift card: it’s an effortless way to wish someone a happy Christmas or thank them for a job well done. It allows the recipient to buy what he or she truly wants, and it’s as easy to use as cash. Perhaps that’s why 2014 gift card sales in the U.S. reach $46 billion, a 6% increase on the year before. But this is just the beginning, as gift card sales are predicted to reach $217 billion by 2025. E-gifting had the largest increase, rising to 26% in 2017, This increase is also expected to support the overall payment industry growth.
Portland, OR -- (SBWIRE) -- 01/09/2018 -- The report provides an in-depth analysis of the entire gift cards market. It encompasses the market size, market share analysis, market dynamics, market forecast, Porters Five Forces Analysis, research methodology, key market segments, and the key company profiles. The data in the report has been gathered and validated through an extensive primary and secondary research. The study serves as a useful guide for market players, new entrants, and investors as it helps them identify the prolific investment pockets and opportunities for growth, and determine strategies to be implemented for their business progress.
The report provides an executive summary of the gift cards market to help market players, stakeholders, new entrants, and investors assess the overall industry scenario and take the necessary steps to achieve growth in the years to come. Key findings are highlighted in the report to assist market players to gain insights into the key winning strategies and investment pockets. Porters Five Forces model is provided to help market players develop business strategies for the future and identify the level of competition across the world. Bargaining power of suppliers, bargaining power of buyers, the threat of new entrants, threat from substitutes, and industrial rivalry are the aspects used for the analysis of the model.
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The study discusses the market landscape of the gift cards industry based on the drivers and restraints. The rise in demand for technologically advanced products, growing demand for cashless transactions, the rise in application areas among end users, increased spending capacity of consumers, the growing adoption rate of smartphones, and the growth associated with e-commerce and m-commerce industry are propelling the industry growth. Moreover, increase in popularity of these cards during traveling expenditures helps in fueling the market growth. Nonetheless, each factor has its definite impact on the market.
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The market discusses the key industry segments of the gift cards industry. The market is segmented into functional attribute, industry vertical, and geography. Based on the functional attribute, the industry is bifurcated into open loop and closed loop. The open loop sector is likely to garner $217729.5 million in 2018 and grow at a CAGR of 17.77% during the forecast period. The closed loop segment is expected to grow at a CAGR of 14.68% during the forecast period. Based on industry vertical, the market is divided into retail and corporate institutions. The retail division is expected to reach $1521115.2 million in 2025, growing at a CAGR of 14.88% during the forecast period. Geographically, the gift cards market analysis covers North America, Europe, Asia-Pacific, and LAMEA. In North America, the research analysis covers the U.S., Canada, and Mexico. In Europe, the analysis covers UK, Germany, France, and others. In Asia-Pacific, the market analysis covers India, China, Japan, and the rest of Asia-Pacific. In LAMEA, the research analysis covers Latin America, Middle East, and Africa.
The leading players in the Global Gift Cards Industry are:
* First Data Corporation
* Qwikcilver Solutions Pvt
* Blackhawk Network Holdings
* Vantiv TenderCard
* Duracard
* TransGate Solutions
* DOCUMAX INC
* Plastek Card Solutions
* National Gift Card Corp
A more detailed analysis is available in the Progressive Markets report titled, 'Gift Cards Market 2018- 2025'. Progressive Markets also customizes reports by other regions and specific segments upon request.
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