Credit Card Issuance Services Market is projected to reach $952.2 billion by 2031

Credit Card Issuance Services Market

Credit Card Issuance Services Market is projected to reach $952.2 billion by 2031

PORTLAND , OR, USA, UNITED STATES, March 1, 2023 /EINPresswire.com/ -- The global credit card issuance services market was valued at $443.7 billion in 2021, and is projected to reach $952.2 billion by 2031, growing at a CAGR of 8.2% from 2022 to 2031. According to Allied’s report, the market is driven by recent technological advancements and the rapid launch of new products. The report covers an in-depth study of the latest market trends, major driving factors, top market players, and top investment pockets. A report is an essential tool for new market entrants, stakeholders, and shareholders to make informed decisions about their investments.

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Top impacting factors

· Credit card demand continues to rise in emerging countries: Developing countries with large working populations, such as India, Hong Kong, and others, drive the growth of the credit card issuance services sector.

· Rise in contactless and digital credit card services: The main benefit of contactless is that it’s fast and that means no line ups.

· Increased demand for cash alternatives and availability low-cost credit cards: There is an increase in the demand for credit cards as it is easy to carry and is also a good alternative for cash.

· Rise in credit card frauds across the globe: Credit card fraud is the most common type of identity theft.

· It is difficult for the banks for cross selling of insurance products: The bank staff is in immense pressure of providing the banking services to the customers along with selling the policies of the insurance companies to the same customer.

· Higher interest rates on credit cards: The most of the credit card issuances companies have the higher interest rate which is one of the retrain of credit card issuance services market.

· Technological advancement in product offering: Credit card issuance services has experienced a drastic change over decades, owing to the emergence of disruptive technologies.

The study involves an overview of the top market players along with a SWOT analysis of various industry players and Porter’s Five analysis to understand their market position. In addition, the study offers financial analysis, portfolio analysis, and business overview of the organizations that help stakeholders understand the long-term profitability of the industry. The report involves the latest market developments such as expansions, partnerships, new product launches, and mergers & acquisitions. Moreover, the study includes a detailed analysis of market dynamics such as drivers, restraints, challenges, and opportunities.

The Credit card issuance services market report offers an in-depth study of drivers, restraints, challenges, and opportunities. Thorough information about major drivers of the market helps to understand market dynamics and how they can affect market growth. Furthermore, the restrains and challenges are covered in the report which is essential for market players for investments. The rapid advancements in technologies and rise in demand are major factors that are expected to unlock new opportunities in the future. The market is projected to witness significant growth during the forecast period.

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Along with this, the Credit card issuance services report includes several tools that establish market growth. The SWOT analysis offers a comprehensive understanding of the major determinants of market growth, which is vital for understanding the upcoming opportunities. In addition, the report includes a Pestel analysis that offers industry-related data and information in tabular format which is vital to understand the positive and negative qualities that can impact the global Credit card issuance services market. Moreover, the study includes Porter’s Five analysis to focus on those factors that can benefit the company in the long run.

Segment Review:

The credit card issuance services market is segmented on the basis of type, issuers and end user. By type, it is segmented into life consumer credit cards and business credit cards. Based on issuers, it is bifurcated into banks, credit unions and NBFC’s. On the basis of end user, it is segmented into personal and business. By region, it is analysed across North America, Europe, Asia-Pacific, and LAMEA.

The Covid-19 pandemic had a major impact on the global Credit card issuance services market. The prolonged lockdown across European and Asian countries and restriction on international travel disrupted the supply chain and revenue chain. This negatively affected the market.

Key benefits for stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the credit card issuance services market analysis from 2021 to 2031 to identify the prevailing credit card issuance services market opportunity.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the credit card issuance services market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global credit card issuance services market trends, key players, market segments, application areas, and market growth strategies.
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Credit card issuance services Market Report Highlights:

Aspects Details

Market Size By 2031 USD 952.2 billion

Growth Rate CAGR of 8.2%

Forecast period 2021 - 2031

Report Pages 183

Type

· Consumer Credit Cards

· Business Credit Cards

Issuers

· Banks

· Credit Unions

· NBFCs

End User

· Personal

· Business

By Region

· North America (U.S., Canada)

· Europe (UK, Germany, France, Italy, Spain, Rest of Europe)

· Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)

· LAMEA (Latin America, Middle East, Africa)

Key Market Players: Fiserv, Inc., Marqeta, Inc., Stripe, Inc., Giesecke+Devrient GmbH, Entrust Corporation., GPUK LLP., Nium Pte. Ltd., fis, Thales, American Express Company

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Credit Card Issuance Services Market is projected to reach $952.2 billion by 2031

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