What is Incentive Cards Market?
Organizations today want to reward more people, not just the high performers but also people who support them. Gift cards make it easier to spread the motivation budget across more recipients and that they give recipients broader choice over their reward. Prepaid card products are incredibly easy and may be more desirable to use in certain incentive promotions. This is the reason they continue to be a primary incentive reward choice when creating an incentive promotion that will keep your participants engaged in today’s changing market. All Digital Rewards has an in depth offering of prepaid reward products. In the U.S., corporate clients are looking for more digital incentive cards with an immediacy factor for driving quick results which will be analyzed to sharpen marketing tactics.
The market study is being classified by Type (Consumer Incentive Card and Employee/Partner Incentive Card), by Application (Restaurant, Gift Cards, Department Store, Merchandise, Entertainment and Other) and major geographies with country level break-up.
Visa Inc. (United States), Mastercard Incorporated (United States), American Express Company (United States), PayPal Holdings Inc. (United States), JCB Co. Ltd. (Japan), Bank of America (United States), Discover Financial Services Inc. (United States), Citi Bank (United States), Givex Corporation (Canada), UnionPay (China), NetSpend (United States) and The Bancorp Bank (United States) are some of the key players profiled in the study.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Incentive Cards market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Incentive Cards market by Type, Application and Region.
On the basis of geography, the market of Incentive Cards has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Growing Digitization and Availability of Prepaid-based Remittance Feature
- Growing Adoption Among Millennial
Market Trend
- Rising Number of Occasions and Growing Popularity of the Gifting and Reward Culture
- Technological Innovation in Product Offerings
Restraints
- Stringent Government Rules and Regulation
Opportunities
- Rise in Application Areas among End Users
Challenges
- Security Related to Contactless Technology
Key Target Audience
Incentive Card Manufacturer, Incentive Card Suppliers, Government Organisations, Private Firms, End-Users and Others