Gift Card Market: APAC to Retain Dominance Throughout 2024

(Newswire.net — July 14, 2017) New York City, New York — Sales of gift cards for B2B purposes will represent nearly 25% to 35% of a merchant’s revenue. In addition, surge in popularity of gift cards over gift vouchers in APAC will further propel demand for gift cards in the coming years. Moreover, attributed to features such as partial redemption option, gift cards are likely to witness significant growth in the span of seven years. The global gift card market is expected to witness growth of 20.7% CAGR over the forecast period, 2016-2024.

A sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/11560 

Market Dynamics

With increasing adoption of gift cards in the corporate sector globally is a significant factor contributing towards growth of the global gift card market in the coming years. In addition, surge in adoption of smartphones in APAC and availability of relatively cheaper plans has fuelled adoption of m-commerce. Moreover, consumers are increasingly downloading applications for online shopping such as Ebay, Amazon and Flipkart on their smartphones. Such factors are likely to contribute towards growth of the gift card market globally in the span of next seven years.

Growing trend of making online purchases on smartphone devices will boost demand for gift cards globally in the coming years, which is attributed to features such as partial redemption option that enables the end users to utilize the remaining balance as it is carried forward for future online purchases. Moreover, gift cards purchased through m-commerce can be stored and retrieved on smartphones whenever required. Such factors are likely to fuel demand for gift cards globally in the coming years.

Request to view table of content @ http://www.persistencemarketresearch.com/market-research/gift-card-market/toc 

Regional Analysis

APAC among various regions is likely to retain dominance in the global gift card market in the span of next seven years. Moreover, APAC will represent the most attractive regional market in the global gift card market in the coming years. The gift card market in APAC is expected to witness a growth at 14.9% CAGR over the coming years. In addition, the gift card market in APAC is likely to account for US$ 200 billion in the span of next seven years. China among various countries in APAC region will account for a relatively high revenue share in the coming years. North America among other regions retained dominance in the global gift card market in 2016 however, the gift card market in the region will witness a sharp dip in by the end of 2024. Whereas, the gift card market in Europe will further witness a robust growth, reflecting a CAGR of 11.7% in the span of next seven years.