Global Cards Market Size, Drivers, Trends, Opportunities And Strategies – Includes Cards Market Forecast
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The rising demand for credit cards are expected to drive innovation in cards manufacturing, thus driving the market during the forecast period.
The global cards market is expected to grow from $271.51 billion in 2022 to $291.18 billion in 2023 at a compound annual growth rate (CAGR) of 7.2%. The global cards market is expected to grow to $390.54 billion in 2027 at a CAGR of 7.6%.
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- By Type: General Purpose, Private Label
- By Usage: General-purpose Re-loadable Card, Government Benefit/Disbursement Card, Payroll Card, Other Usage
- By End User: Retail Establishments, Corporate Institutions, Government, Financial Institutions, Other End-Users
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global cards market in 2021.
Major Market Players in the cards market include Citibank, Mastercard Incorporated, The American Express Company, Visa Inc., JPMorgan Chase & Co., Kaiku Finance LLC., Mango Financial Inc.
Technological innovations have been gaining popularity in the cards market over recent years. Major corporations are concentrating on offering digital prepaid card services in emerging economies to attract a large consumer base for prepaid credit cards. For example, in June 2020, in collaboration with the Mastercard alliance, Grab Holdings, Inc., a multinational ride-hailing company based in Singapore, launched a new card to facilitate cashless payments in the Philippines. With the card linked to Grab’s prepaid wallet, which includes 53 million global merchants that accept Mastercard, users can pay for anything online.
The Cards Global Market Report 2023 provides a cards market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The cards market forecast analyzes cards market size, cards market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Cards are provided by a bank or other financial organization, which enables users to withdraw money or make purchases using a line of credit.
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