The global digital business card industry is experiencing growth due to factors such as increased environmental concerns, increased use of smartphones, and a rapid increase in contactless interaction.
PORTLAND, Ore., June 29, 2023 /PRNewswire/ -- Allied Market Research published a report titled, "Digital Business Card Market by Platform (Android, IOS, and Windows) and User Type (Business User and Enterprise User): Global Opportunity Analysis and Industry Forecast, 2022-2032." According to the report, the global digital business card industry generated $159.4 million in 2022, and is anticipated to witness $505.2 million by 2032, witnessing a CAGR of 12.6% from 2023 to 2032.
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Prime Determinants of Growth:
The global digital business card market is experiencing growth due to factors such as increased environmental concerns, increased use of smartphones, and a rapid increase in contactless interaction. However, lack of understanding and adoption of digital business card formats, as well as privacy and security concerns, present limits to market growth. As digital business cards may contain sensitive personal or professional information, ensuring data protection and preventing unauthorized access or misuse becomes crucial. On the contrary, the digital business cards market offers sustainability and cost saving presents a valuable opportunity for the global digital business card market growth.
Report Coverage & Details:
Report Coverage | Details |
Forecast Period | 2023-2032 |
Base Year | 2022 |
Market Size in 2022 | $159.4 Million |
Market Size in 2032 | $505.2 Million |
CAGR | 12.6 % |
No. of Pages in Report | 298 |
Segments covered | Platform, User Type, and Region |
Drivers | Increased environmental concerns |
Increased use of smartphones | |
A rapid increase in contactless interaction | |
Opportunities | Offers sustainability and cost saving |
Restraints | Lack of awareness and adoption |
Privacy and security concern |
COVID-19 Scenario:
- The outbreak of COVID-19 had a positive impact on the digital business card market. Due to the increased demand for contactless solutions and the accelerated digital transformation. The shift to remote work and virtual meetings highlighted the need for convenient ways to exchange contact information digitally, leading to a wider adoption of digital business card platforms.
- Furthermore, the sustainability of digital business cards and the emphasis on minimizing physical materials were in line with the shifting business environment. Although there were some difficulties due to the economy, the overall trend favored the growth and acceptance of digital business cards during the pandemic.
- However, the situation has recovered to normal, and the market has been growing rapidly.
The android segment to maintain its leadership status throughout the forecast period-
By platform, the android segment held the highest market share in 2022, accounting for more than three-fifths of the global digital business card market revenue, and is expected to maintain its leadership status during the forecast period. This can be attributed to the widespread adoption of Android devices across various demographics and regions. However, the iOS segment is projected to manifest the highest CAGR of 16.0% from 2023 to 2032. This is due to the fact that iOS devices, such as iPhones and iPads, enjoy a strong user base, particularly among professionals and business executives who prioritize sleek design and a seamless user experience.
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The business user segment to maintain its lion's share throughout the forecast period-
By user type, the business user segment held the highest market share in 2022, accounting for more than two-thirds of the global digital business card market revenue, and is estimated to maintain its lion's share throughout the forecast period. The same segment would also showcase the fastest CAGR of 13.2% during the forecast period. This growth is attributed to the increasing emphasis on professional networking and digital transformation; businesses across industries are recognizing the advantages offered by digital business cards. The convenience, flexibility, and eco-friendly nature of digital alternatives have resonated particularly well with business users, driving their rapid adoption and market dominance.
Europe to maintain its dominance by 2032-
By region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global digital business card market. Digital business cards offer a convenient way to exchange contact information at conferences, networking events, and casual encounters. Moreover, major cities like San Francisco, New York City, and Toronto have a higher concentration of digital business card users. On the other hand, Europe is likely to maintain its dominance throughout the forecast period. However, the Asia-Pacific region is expected to witness the fastest CAGR of 15.5% from 2023 to 2032, owing to the increase in smartphone penetration and the rise in need for contactless corporate communication in the region. Moreover, countries such as China, Japan, and India are likely to be important contributors to the growth of the Asia-Pacific digital business card market.
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Leading Market Players: -
- Blinq Technologies Pty Ltd.
- Haystack
- HiHello, Inc.
- Itzme
- Mobilo
- Popl
- Spreadly GmbH
- Tap
- Uniqode Phygital, Inc. (Beaconstac)
- Virtual Business Card
The report provides a detailed analysis of these key players in the global digital business card market. These players have adopted different strategies such as expansion and product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolios, and strategic moves of market players to showcase the competitive scenario.
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