PUBLISHER: Value Market Research | PRODUCT CODE: 1288863
PUBLISHER: Value Market Research | PRODUCT CODE: 1288863
The global demand for Virtual Cards Market is presumed to reach the market size of nearly USD 121.33 MN by 2030 from USD 23.31 MN in 2022 with a CAGR of 22.9% under the study period 2023 - 2030.
A virtual card is a token-based digital payment system that is used for electronic payments and mobile ordering. Tokenization is used to generate credentials automatically, and the cards include built-in financial controls to finance the card for single-use or multi-purpose transactions. Virtual cards, also known as advanced cards, are used to improve the payment experience by making online purchases safer, less complicated, and intelligent. Virtual cards are usually kept on a smartphone or a smartwatch. In this approach, information from the card's issuer is delivered (through the Internet) and regularly displayed, such as restrictions, store locations, news updates, coupons, etc.
The demand for virtual cards is increasing as more people use digital platforms and more people use online payment methods. The demand for virtual cards is being fueled by the increasing adoption of smartphones and the increasing power of the digital platform. Internet usage has increased dramatically in recent years, owing to various factors, including sophisticated technology like 4G/5G and significant internet penetration in developing countries. As a result, the market for virtual cards observes an increase in demand. In addition, increased government initiatives toward online payments and digital platforms and technology improvements are projected to augment market growth. However, the worldwide virtual card market's growth may be hampered by the possibility of fraud and cyber-attacks affecting digital payments.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of virtual cards. The growth and trends of virtual cards industry provide a holistic approach to this study.
This section of the virtual cards market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Virtual Cards market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the virtual cards market include American Express Company, BTRS Holdings Inc., Wise Payments Limited, JPMorgan Chase & Co., Marqeta Inc., MasterCard, Skrill USA Inc., Stripe Inc., WEX Inc., Adyen. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.
Note - in company profiling, financial details and recent development are subject to availability or might not be covered in case of private companies
Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.