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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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SOURCE Technavio

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NAVER D2SF Invests in On-Device AI Startup TraceWeave

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TraceWeave develops its own post-Transformer AI architecture that enables AI agents to run on memory-constrained devicesCompletes paid pilot in mobility; pursues commercialization across robots, drones, smart glasses, and moreNAVER D2SF continues to invest in on-device AI and next-generation device technologies

SEOUL, South Korea, Oct. 20, 2026 /PRNewswire/ — NAVER D2SF has made a new investment in TraceWeave, an on-device AI startup led by co-founder and CEO Jaeyoung Park. TraceWeave is the team behind Phase-TITAN, a post-Transformer architecture that understands long contexts and carries out multi-step tasks while keeping memory usage constant. NAVER D2SF recognized the company’s core technology for enabling AI agents on resource-constrained devices.

As AI expands to robots, vehicles, smart glasses, and drones, its applications are advancing beyond simple chatbots toward complex reasoning and decision-making. In Transformer-based models, the key-value cache (KV-Cache) grows with context length, requiring more memory. On-device constraints in memory, battery life, and heat have made it difficult to implement AI agents that understand long contexts and perform complex tasks.

TraceWeave’s Phase-TITAN is a new AI architecture designed to resolve this memory bottleneck by replacing the conventional Transformer architecture altogether. TraceWeave develops its own AI models rather than relying on existing open-source models. Memory usage remains constant as context grows. According to TraceWeave, at a 1M-token context without quantization, a comparable Transformer’s KV-Cache holds tens of gigabytes or more, while its 1B Phase-TITAN model holds 0.04 GB. This enables agents to call tools, interpret results, and decide on their next actions entirely on the device, without cloud calls. TraceWeave’s internal benchmarks on RULER and BFCL indicate that Phase-TITAN maintains performance on par with Transformer models of the same size and larger.

TraceWeave has demonstrated a multi-step agent running on a smartphone using only its CPU, without cloud calls. In mobility, it completed a paid pilot with the autonomous driving affiliate of a global automotive group, identifying driving-data frames that improve the partner’s autonomous driving model without human annotation. It is also validating in-vehicle agent performance with a global automotive electronics software company and exploring opportunities in robots, drones, smart glasses, and wearables. TraceWeave was a Top 20 finalist in NVIDIA’s 2026 Inception Grand Challenge.

TraceWeave was co-founded in October 2025 by researchers with backgrounds at ETH Zurich, Google, and KAIST. The team combines engineering expertise grounded in computational neuroscience and physics with business development capabilities, designing its own architecture and validating it in device environments that reflect real-world customer needs. In this seed round led by Mirae Asset Capital, TraceWeave raised approximately KRW 3 billion at a pre-money valuation of approximately KRW 30 billion. Based at NAVER D2SF @Gangnam, the company plans to use the funding to expand its research and engineering team for next-generation architecture development and grow its business.

“Taking the KV cache out was never the hard part. Staying capable without it was,” said Jaeyoung Park, co-founder and CEO of TraceWeave. “The best part is no part. Phase-TITAN already delivers Transformer-class capability without the Transformer’s memory tax, and the next one goes well beyond its class, with the memory still fixed.”

“On-device AI is a core technology for implementing complex, advanced AI across diverse device environments beyond PCs, and it also offers advantages in reducing cloud call costs and protecting privacy,” said Sanghwan Yang, Head of NAVER D2SF. “TraceWeave is a team that is innovating AI architecture to overcome the limitations of existing AI models and bring AI to on-device environments.”

View original content:https://www.prnewswire.com/news-releases/naver-d2sf-invests-in-on-device-ai-startup-traceweave-302913752.html

SOURCE NAVER D2SF

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Gear Up for Year-End Wellness: iHerb Spotlights 4 Everyday Health Essentials and Kicks Off 11.11 Early Access Sale with Up to 40% Off Sitewide

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HONG KONG, Oct. 21, 2026 /PRNewswire/ — As October gets underway, many individuals are proactively preparing their daily health and self-care routines ahead of the busy year-end season. Global health and wellness e-commerce platform iHerb has curated a premier lineup of four top-selling daily nutritional supplements from its flagship house brand, California Gold Nutrition, and consumer-favorite brand, Doctor’s Best. Encompassing marine collagen, Omega-3 fatty acids, CoQ10, and chelated magnesium, this selection addresses distinct nutritional priorities, providing consumers with comprehensive, high-quality choices for daily maintenance and holistic vitality.

The iHerb Singles’ Day Early Access campaign officially launches today and runs through October 28. During the promotional period, shoppers can apply promo code “HD11BUY” at checkout to receive up to 40% off sitewide. Additionally, new customers worldwide can use promo code “WELCOME7” to enjoy 30% off their first purchase—offering consumers the ideal opportunity to proactively map out their year-end wellness and nutrition regimens.

Daily Wellness from Within: Collagen and Omega-3 as Nutritional Building Blocks

Founded in the United States and powered by 30 years of global health curation, iHerb offers an extensive catalogue spanning vitamins, dietary supplements, beauty, sports nutrition, and everyday lifestyle essentials. The platform empowers consumers to explore premier wellness goods from around the world all in one convenient place.

Among the featured highlights is California Gold Nutrition’s Hydrolyzed Marine Collagen Peptides + Hyaluronic Acid and Vitamin C. This synergistic formula pairs bioavailable hydrolyzed marine collagen peptides with hyaluronic acid and antioxidant vitamin C. Formulated as an unflavored, easily dissolvable powder, it blends effortlessly into morning coffee, smoothies, or water according to usage guidelines, offering a hassle-free addition to daily beauty and mobility regimens.

For essential fatty acid support, California Gold Nutrition’s Omega-3 Premium Fish Oil provides concentrated Omega-3 fatty acids, specifically EPA and DHA. Delivered in fish gelatin softgels, it offers an accessible, high-purity option for consumers seeking to incorporate vital fatty acids into their daily dietary routine to maintain overall cardiovascular, cognitive, and cellular wellness.

Targeted Cellular Vitality and Essential Minerals: Advanced Science from Doctor’s Best

Complementing collagen and fish oil, trusted wellness brand Doctor’s Best delivers science-backed formulations for more specialized nutritional support. The brand’s High Absorption CoQ10 utilizes naturally fermented Coenzyme Q10 paired with patented BioPerine® black pepper extract to enhance nutrient absorption and bioavailability. It provides an exceptional daily option for adults focused on supporting cardiovascular function, cellular energy generation, and antioxidant defenses.

Another standout favorite is Doctor’s Best High Absorption Magnesium Lysinate Glycinate, which features Albion® TRAACS® chelated magnesium in convenient tablet form. This fully chelated delivery ensures high bioavailability and superior digestive tolerance, allowing consumers to easily select the right daily supplement tailored to their dietary habits, physical activity, and relaxation needs.

Special Promotion: 11.11 Early Access

Sitewide Early Bird Offer: Use promo code HD11BUY to take up to 40% off sitewide.

New Customer Welcome: First-time shoppers globally can apply promo code WELCOME7 for 30% off their order.Promotion Window: Active immediately through October 28, 2026.Details & WhatsApp: Subject to terms and product eligibility on the official iHerb website. Subscribe to the official iHerb Hong Kong WhatsApp channel for real-time campaign updates.

About iHerb (https://hk.iherb.com/)

iHerb is a world-leading e-commerce destination dedicated to health, wellness, and self-care. Founded in California in 1996, iHerb now serves millions of customers across more than 180 countries. With a selection of over 40,000 authentic, high-quality products across vitamins, supplements, sports nutrition, personal care, and grocery items, iHerb delivers value and convenience directly to doorsteps worldwide, supported by state-of-the-art GMP-registered, climate-controlled distribution centers.

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SOURCE iHerb

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EPG Showcases Full-Stack AIDC Capabilities and Global Delivery Network at DCWA 2026 in Singapore

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SINGAPORE, Oct. 21, 2026 /PRNewswire/ — EPG, a global provider for prefabricated modular data center infrastructure, showcased its latest AI data center solutions at Data Centre World Asia (DCWA) 2026, held in Singapore on September 29–30. Demonstrating its commitment to Asia-Pacific and the markets beyond, EPG presented its AI Core prefabricated modular data center solution and Edge POD prefabricated edge data center solution, alongside the global launch of AeroLev 1850, an air-cooled, magnetic-bearing chiller platform jointly introduced with MagPro. Together, these offerings demonstrate EPG’s end-to-end capabilities across modular infrastructure and high-efficiency cooling for AI data centers (AIDCs).

At the opening address for the Critical Infrastructure Theatre, EPG Chief Operating Officer Johnny Zhang highlighted the growing demands AI is placing on data center infrastructure, from higher power density and faster deployment to more efficient cooling. As AI continues to evolve, infrastructure must keep pace to support the next generation of AI computing.

Building on these themes, Johnny Zhang moderated a panel discussion on the future of data centers, resilience and digital infrastructure, bringing together industry experts from data center design, cloud and AI infrastructure, and cooling technology to explore emerging requirements for energy efficiency, high-density cooling and scalability. EPG Chief Technology Officer Enso Li also presented AI Core at the Energy Security & Efficiency Theatre, demonstrating how standardized modules and factory prefabrication can accelerate data center deployment.

Alongside these industry discussions, EPG continued to strengthen its global partnerships. The company signed cooperation agreements with international industry partners across AI data center planning, construction and delivery. These collaborations will support the development of next-generation data center infrastructure, broaden EPG’s ecosystem across the Asia-Pacific and expand its presence in global markets.

Complementing these industry engagements, EPG showcased its AI Core and Edge POD solutions across its exhibition space, welcoming visitors to explore its modular infrastructure offerings. AI Core takes a prefabricated, modular approach to AI infrastructure, integrating standardized power, cooling and other critical infrastructure modules to simplify deployment and enable flexible expansion as compute requirements grow. Built on this modular approach, EPG’s E Series offers configurable solutions tailored to different project requirements. One of its offerings, Edge POD, is an all-in-one solution for distributed computing environments where power availability and deployment speed are critical. Designed for 1–10 MW applications, Edge POD supports rapid deployment, low-latency computing and distributed redundancy.

EPG’s joint venture, MagPro, also introduced its new magnetic levitation chiller platform, AeroLev 1850. The 1.85 MW-class, air-cooled, magnetic-bearing chiller platform is designed for next-generation AI data centers in water-scarce, high-ambient environments, with chilled-water outlet temperatures of up to 45°C. Its cooling-tower-free architecture combines oil-free magnetic-levitation technology with intelligent controls to deliver efficient, reliable cooling while reducing water consumption.

The launch of AeroLev 1850 marks a strategic milestone in EPG’s global cooling technology roadmap. Established in May 2026, MagPro brings together EPG’s data center engineering and global delivery expertise with CIGU’s magnetic-levitation technology and R&D capabilities. The partnership expands EPG’s portfolio into advanced cooling to address the demands of high-density AI computing while reducing reliance on water-intensive cooling systems.

“AI computing is reshaping the infrastructure requirements of data centers,” said Alick Wan, Founder and Chairman of EPG. “Our focus extends beyond individual technological breakthroughs. By combining modular and standardized solutions with global delivery capabilities, we aim to help customers deploy and scale computing infrastructure efficiently across markets. We will continue working with global partners to build more efficient and resilient infrastructure for the next generation of digital growth.”

Looking ahead, EPG will continue to evolve its solutions and strengthen its capabilities to meet the changing demands of the data center industry.

Learn more: https://www.epg-module.com/

CONTACT: communications@epg-module.com

About EPG

EPG is a prefabricated modular data center infrastructure provider, powered by R&D centers in Singapore, Malaysia, and Shanghai, as well as six advanced manufacturing hubs in Malaysia and China. With over 20 years of engineering expertise, it has a workforce of more than 1,600 employees, including nearly 300 researchers and experienced engineers in its R&D and technical team. Through continuous technological innovation and a scalable delivery system, EPG delivers  integrated and efficient data center solutions for hyperscale, cloud, and enterprise deployments across APAC, EMEA, and other global markets.

About MagPro (Nanjing CIPU Technology Co., Ltd.)

MagPro is a joint venture between CIGU Technology Corp. Ltd. and EPG Data Technology (Shanghai) Co., Ltd., specializing in the research, development, and production of reliable, energy-efficient cooling and air-conditioning systems for AI data centers, cloud, and hyperscales. MagPro operates a more than 6,000-square-meter production base and two air-cooled laboratories, supporting testing of air-cooled units up to 2,000 kW.

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SOURCE EPG Global Technology (Shanghai) Co., Ltd.

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