Portland, OR, Aug. 16, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the virtual card market was estimated at $281.22 billion in 2021 and is projected to reach $1.89 trillion by 2031, registering a CAGR of 21.3% from 2022 to 2031. The report provides a detailed analysis of the major pockets of investment, winning strategies, drivers and opportunities, market size & estimates, competitive landscape and changing market trends. Market research is a useful source of information for early adopters, new entrants, investors and shareholders in developing strategies for the future and strengthening their position in the market.
Download a free sample report (Get a detailed analysis in PDF – 384 pages): https://www.alliedmarketresearch.com/request-sample/17594
Report coverage and details:
| Report cover | Details |
| Forecast period | 2022–2031 |
| base year | 2021 |
| Market size in 2021 | $281.22 billion |
| Market size in 2031 | $1.89 trillion |
| CAGR | 21.3% |
| Number of pages in the report | 384 |
| Segments Covered | End User, Product Type, Vertical, and Region. |
| Drivers | Reduced operating costs compared to physical cards |
| Additional security benefits and advanced features | |
| Opportunities | Growing awareness and interest in the use of virtual card among businesses |
| Constraints | Fraud risks |
Covid-19 scenario
- Throughout the pandemic, most banks around the world have offered their services online.
- The trend of using virtual cards has seen a strong inclination as customers have found it appropriate to use virtual cards to transact without touching any surfaces, such as card readers, which are regularly touched by various people and could potentially be infected with the virus.
- This is why the demand for virtual cards has increased significantly, which has had a positive impact on the global virtual card market.
The global virtual card market is analyzed based on end-user, product type, industry vertical, and region. The report contains an exhaustive analysis of the segments and their sub-segments using tabular and graphical representation. Investors and market participants can benefit from the breakdown and design schemes based on the most revenue-generating and fastest-growing segments shown in the report.
On an end-user basis, the enterprise segment contributed about three-quarters of the global virtual card market revenue in 2021 and is expected to lead the way by the end of 2031. The consumer segment, on the other hand , would post the fastest CAGR of 23.1% throughout the forecast period.
Get a detailed analysis of the impact of COVID-19 on Virtual card market: https://www.alliedmarketresearch.com/request-for-customization/17594?reqfor=covid
Based on product type, the B2B virtual card segment contributed more than two-fifths of the global virtual card market revenue in 2021 and is expected to dominate by 2031. Meanwhile, the B2C virtual card segment POS would exhibit the fastest CAGR of 25.4% throughout the forecast period. The B2C remote payment virtual card segment is also assessed in the study.
Based on the industry vertical, the media and entertainment segment accounts for almost a quarter of the total market revenue in 2021 and is expected to dominate by 2031. The advertising segment, simultaneously, would show the CAGR the fastest of 26.9% throughout the forecast period. Other segments analyzed in the report include Hospitality, Consumer Goods, Energy & Utilities, and Education.
Based on region, the market across North America generated nearly two-fifths of the total market revenue in 2021 and is expected to retain the lion’s share by 2031. The Asia-Pacific region, meanwhile, would show the fastest CAGR of 24.1% during the forecast period. Other regions studied in the report include LAMEA and Europe.
Key market players analyzed in the Global Virtual Cards Market report are BTRS Holdings Inc. dba Billtrust, Bento Technologies Inc., Revolut Ltd., HSBC Group, Citigroup Inc., Capital One, DBS Bank Ltd., ePayService, JPMorgan Chase & Co., American Express, Mastercard, Marqeta, Inc., Stripe, Inc., Standard Chartered Bank, Wise Payments Limited, WEX Inc. and State Bank of India. These market players have adopted several strategies including partnership, expansion, collaboration, ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments of key players.
Interested in getting the data? Inquire here @: https://www.alliedmarketresearch.com/purchase-enquiry/17594
Main benefits for stakeholders
- This report provides a quantitative analysis of market segments, current trends, estimates and dynamics of the Virtual Cards Market analysis from 2021 to 2031 to identify current opportunities in the Virtual Cards Market.
- Market research is offered with information related to key drivers, restraints, and opportunities.
- Porter’s Five Forces analysis highlights the ability of buyers and suppliers to enable stakeholders to make profit-driven business decisions and strengthen their supplier-buyer network.
- In-depth analysis of virtual card market segmentation helps to determine the existing market opportunities.
- Major countries in each region are mapped according to their revenue contribution in the global market.
- The positioning of market players facilitates benchmarking and provides a clear understanding of the current position of market players.
- The report includes analysis of regional and global virtual card market trends, key players, market segments, application areas and market growth strategies.
Key market segments
Final user
type of product
- B2B virtual card
- B2C remote payment virtual cards
- B2C POS Virtual Cards
industry vertical
- Media and entertainment
- Hospitality
- Consumer goods
- Energy and Utilities
- Advertising
- Education
- Others
By region
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- The rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- China
- India
- Japan
- Australia
- LAMEA
- Latin America
- Middle East
- Africa
Avenue Basic Plan | Access to the library | One year subscription |
Sign up for the Avenue subscription to access over 12,000 business profiles and over 2,000 niche market research reports at $699 per month, per seat. For one year, the customer must purchase a minimum 2-seat plan.
14-day free trial request: https://www.alliedmarketresearch.com/avenue/trial/starter
“We have also published some syndicated market studies in the same field that you may be interested in. Below is the title of the report for your referenceconsidering the impact of Covid-19 on this market which will help you to assess the aftereffects of the pandemic on the short and long term growth trends of this market.
BFSI Industry Trend Reports (Book Now with 10% Discount + Covid-19 Scenario):
Contactless smart card market By type (memory and microprocessor MPU), functionality (transaction, communication and security and access control), company size (large enterprise and small and medium enterprises) and vertical sector (BFSI, retail and e-commerce, Healthcare, Travel & Hospitality, Transportation & Logistics, Media & Entertainment, and Others): Global Opportunities Analysis and Industry Forecast, 2021-2030
Forex Prepaid Cards Market by Card Type (Open Loop Prepaid Card and Closed Loop Prepaid Card), Usage (General Purpose Reloadable Card, Gift Card, Government Benefit/Disbursement Card, Payroll Card and Others) and End User (Retail, Corporate Institutions, Government and Financial Institutions): Global Opportunities Analysis and Industry Forecast, 2021-2030
EMV smart card market By type (contact form and contactless form), application (fuel card, retail store card, metal coupon card and others), distribution channel (wholesaler, retail brokers and others) and end user (BFSI, Healthcare, Retail, IT & Telecommunications, Travel & Hospitality, Transportation & Logistics, Media & Entertainment, Government & Others): Global Opportunities Analysis & Industry Forecast, 2021-2030
Multi-Store Gift Card Market By Card Type (Open-Loop Gift Card and Closed-Loop Gift Card), Application (Consumer Goods, Health & Wellness, Restaurants & Bars, Travel & Tourism, Media & Entertainment, and Others), and End User (Retail Establishments and Enterprise): Global Opportunities Analysis and Industry Forecast, 2021-2030
About Us
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unparalleled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. Allied Market Research CEO Pawan Kumar helps inspire and encourage everyone associated with the company to maintain high quality data and help clients in every way possible to achieve success. All the data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the field concerned. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (toll free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
The Web: https://www.alliedmarketresearch.com/reports-store/semiconductor-and-electronics