Asia Pacific Digital Gift Card Market Introduction and Overview
According to SPER Market Research, the Asia Pacific Digital Gift Card Market is estimated to reach USD XX Billion by 2033 with a CAGR of 15.5%.
The report includes an in-depth analysis of the Asia Pacific Digital Gift Card Market, including market size and trends, product mix, applications, and supplier analysis. A gift card might make things easy and help you retain customers if they have a bad experience with your products or wish to file a return or refund. This will improve customer retention. Sustainability is our sixth main advantage for businesses that use digital gift card choices. All organisations must demonstrate how they are addressing sustainability, which is not always easy, particularly for smaller businesses. By using a digital gift card system, retailers can eliminate the need for paper or plastic in this aspect of their business. Customers order gift cards online, and recipients receive and redeem them online. Furthermore, there are several options for brand identification and messaging to be integrated into the digital experience.
Market Opportunities and Challenges
The expansion in the usage of cutting-edge technology in the payments industry, as well as the development in global awareness of digital payments, are important drivers of the global digital gift card market. The digital gift card market is being pushed by increased smartphone penetration and the popularity of gift cards among companies and financial institutions. However, gift card fraud risks such as refund fraud, card number theft, and physical tampering limit the digital gift card market's growth. On the contrary, it is expected that in the coming years, the digital gift card market will gain significantly from technology developments and an increase in demand for gift cards from emerging countries.
Furthermore, the growing preference among corporate organisations for digital gift cards over cash when rewarding their personnel contributes to industry increase. Furthermore, developing nations such as China and India are expected to have significant growth potential, opening up new avenues for the digital gift card market to expand throughout the projected period. Furthermore, smartphone popularity and rising desire for sophisticated payment methods are major factors influencing the worldwide digital gift card market's growth. However, security risks have some impact on market growth. Conversely, rising interest in breakthrough items is projected to have an impact on the digital gift card market during the forecast period.
Market Competitive Landscape
The major key players in the Asia Pacific Digital Gift Card Market are: Amazon.com Inc, Apple Inc, Blackhawk Network Holdings, Inc, Fiserv, Inc, InComm Payments, Loop Commerce, Inc (Synchrony Financial), PayPal Holdings, Inc, Target Corporation (Target Brands, Inc), Walmart, Inc, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Functional Attribute, By Application, By End User
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| Regions covered | China, India, Japan, Malaysia, Singapore, South Korea, Rest of Asia Pacific
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| Companies Covered | Amazon.com Inc, Apple Inc, Blackhawk Network Holdings, Inc, Fiserv, Inc, InComm Payments, Loop Commerce, Inc (Synchrony Financial), PayPal Holdings, Inc, Target Corporation (Target Brands, Inc), Walmart, Inc, Others
|
COVID-19 Impact on Asia Pacific Digital Gift Card Market
The Covid-19 epidemic has had a tremendous impact on the digital gift card business. The constraints on physical encounters, combined with the move to online buying, have increased the use of digital gift cards as a secure and contactless gifting option. The COVID-19 epidemic has pushed the use of digital gift cards across Asia Pacific. Lockdown measures and social distance limits have changed consumer preferences towards online buying and contactless transactions, resulting in increased demand for digital gifting options. Businesses are increasingly using digital gift cards as staff incentives, customer rewards, and promotional initiatives to respond to changing consumer behaviours. However, economic uncertainty and logistical obstacles have influenced consumer buying, causing swings in demand for digital gift cards during the pandemic.
Key Target Audience:
- Retailers and E-commerce Platforms
- Gift Card Distributors and Resellers
- Financial Institutions and Banks
- Technology Companies and Software Providers
- Marketing and Advertising Agencies
- Corporate Businesses and Employers
- Consumers and Gifters
- Mobile Payment Providers
- Hospitality and Travel Industry
- Gaming and Entertainment Companies
- Others
Our in-depth analysis of the Asia Pacific Digital Gift Card Market includes the following segments:
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By Functional Attribute:
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Closed-loop Card
Open-loop Card
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By Application:
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Consumer Goods
Health & Wellness
Media & Entertainment
Restaurants & Bars
Travel & Tourism
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By End User:
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Corporate
Retail
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By Region:
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China
India
Japan
Malaysia
Singapore
South Korea
Rest of Asia Pacific
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Key Topics Covered in the Report:
- Asia Pacific Digital Gift Card Market Size (FY’2024-FY’2033)
- Overview of Asia Pacific Digital Gift Card Market
- Segmentation of Asia Pacific Digital Gift Card Market By Functional Attribute (Closed-loop Card, Open-loop Card)
- Segmentation of Asia Pacific Digital Gift Card Market By Application (Consumer Goods, Health & Wellness, Media & Entertainment, Restaurants & Bars, Travel & Tourism, Others)
- Segmentation of Asia Pacific Digital Gift Card Market By End User (Corporate, Retail)
- Statistical Snap of Asia Pacific Digital Gift Card Market
- Expansion Analysis of Asia Pacific Digital Gift Card Market
- Problems and Obstacles in Asia Pacific Digital Gift Card Market
- Competitive Landscape in the Asia Pacific Digital Gift Card Market
- Impact of COVID-19 and Demonetization on Asia Pacific Digital Gift Card Market
- Details on Current Investment in Asia Pacific Digital Gift Card Market
- Competitive Analysis of Asia Pacific Digital Gift Card Market
- Prominent Players in the Asia Pacific Digital Gift Card Market
- SWOT Analysis of Asia Pacific Digital Gift Card Market
- Asia Pacific Digital Gift Card Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Asia Pacific Digital Gift Card Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Asia Pacific Digital Gift Card Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Asia Pacific Digital Gift Card Market
7. Asia Pacific Digital Gift Card Market, By Functional Attribute (USD Million)
7.1. Asia Pacific Digital Gift Card Market Value Share and Forecast, By Functional Attribute, 2024-2033
7.2. Closed-loop Card
7.3. Open-loop Card
8. Asia Pacific Digital Gift Card Market, By Application (USD Million)
8.1. Asia Pacific Digital Gift Card Market Value Share and Forecast, By Application, 2024-2033
8.2. Consumer Goods
8.3. Health & Wellness
8.4. Media & Entertainment
8.5. Restaurants & Bars
8.6. Travel & Tourism
8.7. Others
9. Asia Pacific Digital Gift Card Market, By End User (USD Million)
9.1. Asia Pacific Digital Gift Card Market Value Share and Forecast, By End User, 2024-2033
9.2. Corporate
9.3. Retail
10. Asia Pacific Digital Gift Card Market Forecast, 2020-2033 (USD Million)
10.1. Asia Pacific Digital Gift Card Market Size and Market Share
11. Asia Pacific Digital Gift Card Market, By Functional Attribute, 2020-2033 (USD Million)
11.1. Asia Pacific Digital Gift Card Market Size and Market Share By Functional Attribute (2020-2026)
11.2. Asia Pacific Digital Gift Card Market Size and Market Share By Functional Attribute (2027-2033)
12. Asia Pacific Digital Gift Card Market, By Application, 2020-2033 (USD Million)
12.1. Asia Pacific Digital Gift Card Market Size and Market Share By Application (2020-2026)
12.2. Asia Pacific Digital Gift Card Market Size and Market Share By Application (2027-2033)
13. Asia Pacific Digital Gift Card Market, By End User, 2020-2033 (USD Million)
13.1. Asia Pacific Digital Gift Card Market Size and Market Share By End User (2020-2026)
13.2. Asia Pacific Digital Gift Card Market Size and Market Share By End User (2027-2033)
14. Asia Pacific Digital Gift Card Market, By Region, 2020-2033 (USD Million)
14.1. Asia Pacific Digital Gift Card Market Size and Market Share By Region (2020-2026)
14.2. Asia Pacific Digital Gift Card Market Size and Market Share By Region (2027-2033)
14.3. China
14.4. India
14.5. Japan
14.6. Malaysia
14.7. Singapore
14.8. South Korea
14.9. Rest of Asia Pacific
15. Company Profile
15.1. Amazon.com, Inc
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Apple, Inc
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Blackhawk Network Holdings, Inc
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. Fiserv, Inc
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. InComm Payments
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. Loop Commerce, Inc (Synchrony Financial)
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. PayPal Holdings, Inc
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. Target Corporation (Target Brands, Inc)
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. Walmart, Inc
15.9.1. Company details
15.9.2. Financial outlook
15.9.3. Product summary
15.9.4. Recent developments
15.10. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
