The Business Research Company's Cards Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The Business Research Company's Cards Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

LONDON, GREATER LONDON, UK, December 11, 2023 /EINPresswire.com/ -- The global cards market is experiencing robust growth, with the market size forecasted to increase from $271.51 billion in 2022 to $291.18 billion in 2023, at a compound annual growth rate (CAGR) of 7.2%. Over the forecast period, the market is expected to continue its upward trajectory, reaching a substantial market size of $390.54 billion by 2027, with a CAGR of 7.6%.

Key Market Segments: Meeting Diverse Financial Needs
1.Type: The market is divided into General Purpose and Private Label cards, catering to various financial and consumer preferences.
2.Usage: Various card usage categories include General-purpose Re-loadable Card, Government Benefit/Disbursement Card, Payroll Card, and Other Usage, providing versatile options to meet diverse financial needs.
3.End User: The market serves Retail Establishments, Corporate Institutions, Government, Financial Institutions, and Other End-Users, highlighting the wide range of applications and industries benefiting from card usage.

Explore the global cards market with a detailed sample report:
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Market Drivers: Rising Demand for Credit Cards
The growth of the cards market is driven by an increasing demand for credit cards. The rise in consumer demand for credit products, particularly during economic crises like the COVID-19 outbreak, contributes to the growing popularity of credit cards. As individuals face pay delays and job losses, outstanding credit card balances indicate that consumers are utilizing credit cards to cover daily expenses. Notably, in Australia, the demand for credit cards increased by 6% in June 2022 compared to June 2021, as reported by the Equifax Quarterly Consumer Credit Demand Index. Overall consumer credit demand grew by 10.2% during the same period. This surge in credit card demand propels the growth of the overall cards market.

Major Players and Market Dynamics
Key players in the cards market include Citibank, Mastercard Incorporated, The American Express Company, Visa Inc., JPMorgan Chase & Co., Kaiku Finance LLC., Mango Financial Inc., Green Dot Corporation, NetSpend Holdings, and PayPal Holdings. These industry leaders play a pivotal role in driving innovations, expanding market reach, and shaping the competitive landscape.

Technological Innovations: Transforming the Market Landscape
Technological innovations are gaining traction in the cards market, with major corporations focusing on digital prepaid card services. Companies like Grab Holdings, Inc., in collaboration with Mastercard, are launching digital prepaid cards to facilitate cashless payments in emerging economies. This trend reflects the industry's commitment to leveraging technology for digital financial solutions, expanding the reach of prepaid credit cards.

Regional Insights: Asia-Pacific Leads the Charge
Asia-Pacific emerged as the largest region in the cards market in 2022, showcasing strong market adoption and demand. Western Europe secured the second-largest market share, highlighting significant market presence in this region. The global cards market analysis report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Access the complete report for an in-depth analysis of the global cards market:
https://www.thebusinessresearchcompany.com/report/cards-global-market-report

Cards Global Market Report 2023from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries:Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
TheCards Global Market Report 2023byThe Business Research Company is the most comprehensive report that provides insights on cards market size, cards market drivers and trends, cards market major players, competitors' revenues, market positioning, and market growth across geographies.The cards market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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