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Gift Card Market to Grow by USD 1.33 Trillion (2025-2029), Boosted by E-commerce Growth, AI Driving Market Transformation – Technavio

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NEW YORK, Feb. 7, 2025 /PRNewswire/ — Report with the AI impact on market trends – The global gift card market size is estimated to grow by USD 1.33 trillion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of over 15.4% during the forecast period. Growth of e-commerce sector is driving market growth, with a trend towards rise of open-loop gift cards. However, additional loss of money in using gift cards poses a challenge. Key market players include Alighieri, Blackhawk Network Holdings Inc., Card USA Inc, Duracard Plastic Cards, Fidelity National Information Services Inc., Fiserv Inc., FleetCor Technologies Inc., Givex Corp., Hennes and Mauritz AB, InComm Payments, JIFITI PRODUCTS, Kindcard Inc., PineLabs Pvt. Ltd., Plastek Card Solutions Inc., Runa Network Ltd., Square Inc., Tele Pak Inc., TransGate Solutions, Village Roadshow Ltd., and Yiftee Inc..

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Gift Card Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 15.4%

Market growth 2025-2029

USD 1331.3 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

12.1

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 40%

Key countries

US, UK, Germany, Australia, France, Japan, Canada, China, Saudi Arabia, and Brazil

Key companies profiled

Alighieri, Blackhawk Network Holdings Inc., Card USA Inc, Duracard Plastic Cards, Fidelity National Information Services Inc., Fiserv Inc., FleetCor Technologies Inc., Givex Corp., Hennes and Mauritz AB, InComm Payments, JIFITI PRODUCTS, Kindcard Inc., PineLabs Pvt. Ltd., Plastek Card Solutions Inc., Runa Network Ltd., Square Inc., Tele Pak Inc., TransGate Solutions, Village Roadshow Ltd., and Yiftee Inc.

Market Driver

Gift cards have become a popular trend in both physical and digital retail spaces. Prepaid cards loaded with a specific amount of money have revolutionized payment methods for various stores, websites, restaurants, and businesses. Consumers prefer the convenience of gifting digital options for birthdays, holidays, and special occasions. The younger generations, including Millennials and Gen Z, favor digital gifting over tangible gifts. Impacting factors like cashless transactions, loyalty programs, and customer behavior have boosted the use of gift cards. Brands and retailers offer digital gifting options as marketing tools and rewards & incentives for customer loyalty. Other businesses, including travel companies, OTT platforms, and content platforms, also use digital gift cards to enhance customer experiences. Market participants like FinTechs, PayTechs, and mobile wallets have entered the scene, offering digital platforms for seamless gifting experiences. Demonetization, E-commerce activities, and the Digital India initiative have further fueled the growth of digital gift cards. Strategic alliances between brands and businesses, tax-advantage cards, and E gifting have also contributed to the market’s expansion. In conclusion, gift cards have become a practical, customizable, and environmentally friendly gifting solution for consumers, businesses, and individual users alike. The market is expected to continue growing, impacted by factors such as mobile payments, internet accessibility, and the increasing popularity of online shopping. 

An increasing trend among vendors is the launch of open-loop gift cards over closed-loop ones. Open-loop cards, branded with payment card processors like Visa, MasterCard, and American Express, offer wider acceptance as they are not limited to a specific business. This preference among customers is driving the development of new open-loop gift card products. For instance, InComm, a UK-based prepaid product and payments technology company, introduced Vanilla Go, a global open-loop gift card brand, over five years ago. Open-loop Mastercard gift cards provide a personalized gifting experience. 

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Market Challenges

Gift cards have become a popular payment method for consumers during special occasions, birthdays, holidays, and as expressions of love, gratitude, and appreciation. Prepaid cards offer convenience for both givers and recipients, allowing them to use the amount of money stored on the card at various stores, websites, restaurants, and retail establishments. Businesses, including retailers or brands, other businesses, and corporate clients, issue gift cards as rewards & incentives, experiences, or tangible gifts. Digital gifting options have gained traction among younger generations such as Millennials and Gen Z, who prefer cashless transactions and mobile wallets. Impacting factors include consumer preferences, customer behavior, internet accessibility, and the growing E-commerce activities under the Digital India initiative. Gift cards serve as marketing tools for brand owners and customer loyalty programs, and can be used in various sectors like travel companies, OTT platforms, content platforms, and hospitality services. Market participants include FinTechs and PayTechs, offering digital platforms for online sales and redemption of gift cards. Strategic alliances between retailers and these platforms can impact cash flow and customer journeys, as physical retail spaces merge with online retail spaces. Tax-advantage cards, E gifting, M commerce, and E commerce are also part of this growing market. Virtual cards and mobile gift cards are increasingly popular, offering customizable and environmentally friendly alternatives.Gift cards offer an alternative way to give the gift of choice to recipients. However, they come with certain challenges. For instance, some gift cards have expiry dates, which may result in unused funds if not utilized within the specified period. Additionally, physical gift cards can be misplaced, leading to a loss of the funds loaded on them. Moreover, gift cards are available in various denominations, and any remaining balance after a purchase may go unused. These factors may result in additional spending or lost funds. To mitigate these issues, consider digital gift cards or setting reminders for expiry dates.

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Segment Overview 

This gift card market report extensively covers market segmentation by

TypeE-gifts CardsPhysical Gift CardsDistribution ChannelOfflineOnlineGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth AmericaCard TypeClosed-loop CardOpen-loop Card

1.1 E-gifts cards- E-gift cards have become a popular and convenient gifting solution in the retail sector. Their evolution has been rapid, with digitalization playing a significant role in their transformation. E-gift cards, also known as digital cards, are delivered electronically via email and offer enhanced versatility and flexibility. They are an ideal option for last-minute gifting and eliminate the risk of losing physical cards. In the corporate sector, e-gift cards have gained popularity as suitable gifting options for employees, clients, and stakeholders. Vendors benefit from their financial viability and ease of integration with core products and services. The elimination of logistical and management issues associated with physical cards increases operational efficiencies for businesses. These factors are expected to drive the growth of the e-gift card segment in the market during the forecast period.

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Research Analysis

Prepaid gift cards have revolutionized the way we express love, gratitude, and appreciation. These plastic or digital cards allow the recipient to receive a specific amount of money that can be used for payment at various stores, websites, restaurants, and retail establishments, both online and offline. The convenience of gift cards has made them a popular choice for consumers, especially younger generations, who prefer e-gifting, M commerce, and e-commerce. Brand owners use gift cards as a marketing tool to boost sales and customer loyalty. Strategic alliances between businesses have led to the acceptance of gift cards at an increasing number of outlets. Digital and virtual cards have added to the flexibility and convenience of gift cards, making them an essential component of modern consumer behavior. Gift cards offer a personal touch to gifting, allowing the customer to choose how and where to spend the money. They provide a sense of excitement and anticipation for the recipient, making them a thoughtful and practical gift. Whether it’s a special occasion or a simple gesture of appreciation, gift cards continue to be a popular choice for expressing love and gratitude.

Market Research Overview

Prepaid gift cards have revolutionized the way we give and receive amounts of money as presents. These cards, which can be used as a payment method in stores, websites, restaurants, and other businesses, have become increasingly popular for various occasions such as birthdays, holidays, and special occasions. The convenience of gift cards appeals to both the giver and the recipient, allowing for digital gifting options and instant gratification. Consumers, especially younger generations like Millennials and Gen Z, prefer cashless transactions and practical, customizable, and environmentally friendly gifts. Retail sectors, travel companies, OTT platforms, content platforms, and hospitality industries have embraced digital gift cards as a marketing tool and customer loyalty program. Impacting factors include loyalty programs, customer behavior, internet accessibility, online shoppers, and the growing popularity of mobile wallets and digital platforms. Market participants include retailer or brand-specific cards, tax-advantage cards, E gifting, M commerce, and E commerce platforms. Strategic alliances between FinTechs, PayTechs, and businesses have further expanded the reach and usage of gift cards. Virtual and mobile gift cards offer flexibility and convenience, making them a preferred choice for individual users and corporate clients alike. The impact of the Digital India initiative and demonetization has also accelerated the adoption of digital services and cashless transactions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeE-gifts CardsPhysical Gift CardsDistribution ChannelOfflineOnlineGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth AmericaCard TypeClosed-loop CardOpen-loop Card

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Technology

Chef Robotics Physical AI Models Can Now Automate Baked Goods Packing

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SAN FRANCISCO, April 29, 2026 /PRNewswire/ — Chef Robotics, a leader in physical AI for the food industry, today announced that Chef robots can now automate tray assembly for baked goods packing. The application places baked products, such as burger buns, chocolate chip cookies, biscotti, butter cookies, biscuits, fortune cookies, granola bars, rusks, and shortbreads into trays and packaging containers before sealing.

Watch Chef robots in action.

Baked goods packing has historically been difficult to automate for high-mix production. Each item behaves differently on the production line—a granola bar compresses under the wrong grip, while a biscotti or rusk can crack if placed at the wrong angle. Surface textures range from glazed and smooth to crumbly and irregular, and strict presentation requirements leave little room for error. This variability has made it challenging for automation systems to reliably handle baked goods at production speeds, leaving food manufacturers dependent on manual labor and traditional bakery equipment.

To address this, Chef built its baked goods packing application on its existing piece-picking capability, which uses Chef’s AI-powered computer vision and physical AI models trained across diverse real-world production environments. This allows Chef robots to assess each item’s position, shape, and orientation in real time and determine how to pick the items from the pan and place them quickly and precisely without damaging them.

The baked goods packing application supports four distinct placement capabilities.

First, Chef’s vision system detects the angle at which each item sits in the pan and reorients it after picking, placing it on the tray at the exact angle required, regardless of its original position, enabling retail-ready presentation for SKUs that require precise angular placement.

Second, Chef robots can place multiple baked goods into the same packaging container in a single automated pass, completing full tray assembly without manual intervention.

Third, for packaging containers with multiple small compartments, Chef robots can precisely place items into each designated section, including multiple items in the same compartment, using Chef’s AI vision model to detect compartment positions and orientations in real time.

Fourth, Chef’s vision system identifies the exact center of each tray and places every item at a predefined offset from that center, ensuring a uniform, consistent arrangement across every pack regardless of how trays arrive on the conveyor.

For food manufacturers evaluating bakery systems and baked goods packaging automation, the application offers higher throughput, reduced labor dependency, and consistent presentation across shifts. The capability runs on Chef’s existing robotic hardware and software, allowing manufacturers to deploy it without requiring any changes to their production lines.

Chef’s baked goods packing application is available in the U.S., Canada, Germany, and the UK and is included as part of Chef’s robotics-as-a-service (RaaS) pricing model.

About Chef Robotics
Chef is the first company to have commercialized a scalable AI-driven food robotics solution. With over 104 million servings made in production, Chef leverages ChefOS, an AI platform for food manipulation, to offer a Robotics-as-a-Service solution that helps industry-leading food companies increase production volume and meet demand. Headquartered in San Francisco, CA, Chef aims to empower humans to do what humans do best by accelerating the advent of intelligent machines. Visit https://chefrobotics.ai to learn more.

View original content:https://www.prnewswire.com/news-releases/chef-robotics-physical-ai-models-can-now-automate-baked-goods-packing-302756923.html

SOURCE Chef Robotics

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Technology

Chef Robotics Physical AI Models Can Now Automate Baked Goods Packing

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on

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SAN FRANCISCO, April 29, 2026 /PRNewswire/ — Chef Robotics, a leader in physical AI for the food industry, today announced that Chef robots can now automate tray assembly for baked goods packing. The application places baked products, such as burger buns, chocolate chip cookies, biscotti, butter cookies, biscuits, fortune cookies, granola bars, rusks, and shortbreads into trays and packaging containers before sealing.

Watch Chef robots in action.

Baked goods packing has historically been difficult to automate for high-mix production. Each item behaves differently on the production line—a granola bar compresses under the wrong grip, while a biscotti or rusk can crack if placed at the wrong angle. Surface textures range from glazed and smooth to crumbly and irregular, and strict presentation requirements leave little room for error. This variability has made it challenging for automation systems to reliably handle baked goods at production speeds, leaving food manufacturers dependent on manual labor and traditional bakery equipment.

To address this, Chef built its baked goods packing application on its existing piece-picking capability, which uses Chef’s AI-powered computer vision and physical AI models trained across diverse real-world production environments. This allows Chef robots to assess each item’s position, shape, and orientation in real time and determine how to pick the items from the pan and place them quickly and precisely without damaging them.

The baked goods packing application supports four distinct placement capabilities.

First, Chef’s vision system detects the angle at which each item sits in the pan and reorients it after picking, placing it on the tray at the exact angle required, regardless of its original position, enabling retail-ready presentation for SKUs that require precise angular placement.

Second, Chef robots can place multiple baked goods into the same packaging container in a single automated pass, completing full tray assembly without manual intervention.

Third, for packaging containers with multiple small compartments, Chef robots can precisely place items into each designated section, including multiple items in the same compartment, using Chef’s AI vision model to detect compartment positions and orientations in real time.

Fourth, Chef’s vision system identifies the exact center of each tray and places every item at a predefined offset from that center, ensuring a uniform, consistent arrangement across every pack regardless of how trays arrive on the conveyor.

For food manufacturers evaluating bakery systems and baked goods packaging automation, the application offers higher throughput, reduced labor dependency, and consistent presentation across shifts. The capability runs on Chef’s existing robotic hardware and software, allowing manufacturers to deploy it without requiring any changes to their production lines.

Chef’s baked goods packing application is available in the U.S., Canada, Germany, and the UK and is included as part of Chef’s robotics-as-a-service (RaaS) pricing model.

About Chef Robotics
Chef is the first company to have commercialized a scalable AI-driven food robotics solution. With over 104 million servings made in production, Chef leverages ChefOS, an AI platform for food manipulation, to offer a Robotics-as-a-Service solution that helps industry-leading food companies increase production volume and meet demand. Headquartered in San Francisco, CA, Chef aims to empower humans to do what humans do best by accelerating the advent of intelligent machines. Visit https://chefrobotics.ai to learn more.

View original content:https://www.prnewswire.com/news-releases/chef-robotics-physical-ai-models-can-now-automate-baked-goods-packing-302756923.html

SOURCE Chef Robotics

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Air Products to Expand Industrial Gas Supply for Samsung Electronics’ Next-Generation Semiconductor Fab in South Korea

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New investment underscores the company’s long-term commitment to Korea and its leading role in the global semiconductor industry 

LEHIGH VALLEY, Pa., April 29, 2026 /PRNewswire/ — Air Products (NYSE:APD), a world-leading industrial gases company and serving Samsung globally, today announced it has been selected by Samsung to supply industrial gases for its new advanced semiconductor fab in Pyeongtaek, Gyeonggi Province, South Korea.

Under the agreement, Air Products will build, own and operate multiple state-of-the-art production facilities and a bulk specialty gas supply system to supply nitrogen, oxygen, argon, and hydrogen for Samsung’s new semiconductor fab. The new facilities are expected to come onstream in multiple phases from 2028 through 2030.

Air Products has a long track record of executing multiple phase expansions in Pyeongtaek to support Samsung’s growing manufacturing needs. This latest project represents Air Products’ largest investment to date in the semiconductor industry and will establish Pyeongtaek as the company’s single largest operations site globally supporting the electronics industry. 

“Air Products is honored to be selected once again by Samsung and to have their continued confidence as a trusted partner supporting their strategic growth plans,” said SR Kim, President, Air Products Korea. “This significant investment reinforces Air Products’ role as a leading global supplier to the semiconductor industry and underscores our long-standing commitment to supporting our strategic customers with safety, reliability, efficiency and excellent service.”

Air Products has served the global electronics industry for more than 40 years, supplying industrial gases safely and reliably to many of the world’s leading technology companies. The company has operated in Korea for more than 50 years and has established a strong position in electronics and manufacturing sectors.

About Air Products

Air Products (NYSE: APD) is a world-leading industrial gases company in operation for over 85 years focused on serving energy, environmental, and emerging markets and generating a cleaner future. The Company supplies essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, medical and food. As the leading global supplier of hydrogen, Air Products also develops, engineers, builds, owns and operates some of the world’s largest clean hydrogen projects, supporting the transition to low- and zero-carbon energy in the industrial and heavy-duty transportation sectors. Through its sale of equipment businesses, the Company also provides turbomachinery, membrane systems and cryogenic containers globally.

Air Products had fiscal 2025 sales of $12 billion from operations in approximately 50 countries. For more information, visit airproducts.com or follow us on LinkedInXFacebook or Instagram.

This release contains “forward-looking statements” within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s expectations and assumptions as of the date of this release and are not guarantees of future performance. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including the risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2025 and other factors disclosed in our filings with the Securities and Exchange Commission. Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs or expectations or any change in events, conditions or circumstances upon which any such forward-looking statements are based.

View original content to download multimedia:https://www.prnewswire.com/news-releases/air-products-to-expand-industrial-gas-supply-for-samsung-electronics-next-generation-semiconductor-fab-in-south-korea-302757497.html

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