DUBLIN–(BUSINESS WIRE)–The “Global Debit Card Market Report 2022” report has been added to from ResearchAndMarkets.com offer.
The global debit card market is expected to grow from $90.49 billion in 2021 to $93.23 billion in 2022 at a compound annual growth rate (CAGR) of 3%. The market is expected to reach $96.84 billion in 2026 at a CAGR of 1%.
Asia Pacific was the largest debit card market region in 2021. Western Europe was the second largest debit card market region. Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The reduction in the use of cash as a result of various factors has contributed to the growth of the debit card market. Various institutional bodies and governments attempt to minimize the use of cash, as cashless transactions reduce the risk of crime and money laundering, decrease tax evasion, and lower transaction costs for businesses. In June 2021, according to the Financial Times, there was a 35% reduction in cash payments. Thus, the reduction in the use of cash and the continued trend of digital payments are expected to drive the debit card market.
The universal presence of mobile has increased the use of mobile payments and wallets, which is expected to restrain the growth of the debit card market. Mobile wallet refers to a payment service through which payments can be received or sent using a mobile. According to a Forbes article published in March 2020, mobile payments in the United States exceeded $130 billion in 2020. Most mobile wallets have built-in security such as Touch ID fingerprint, six-way password numbers and other features that reduce the risk of fraud. The ease of transaction and more security features in the mobile wallet will increase its usage, limiting the growth of other payment methods including debit cards, thus limiting its market growth.
The cryptocurrency debit card is a new trend in the card industry. Crypto debit cards act as an effective bridge between existing financial systems and the crypto world. They offer instant purchasing power from bitcoin or other cryptocurrencies. Crypto debit cards allow cardholders to make payments and withdraw fiat currency at ATMs, similar to debit cards linked to bank accounts. Major card networks such as MasterCard, Amex, and Visa are focusing on corporate payments with the use of blockchain. Revolut, a UK-based start-up, offers the metal card with the MasterCard logo and access to 5 cryptocurrencies and 150 fiat currencies.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces historical and forecast market growth by geography. It places the market in the context of the broader debit card market and compares it to other markets.
Main topics covered:
2. Characteristics of the debit card market
3. Debit Card Market Trends and Strategies
4. Impact of COVID-19 on the debit card
5. Debit Card Market Size and Growth
5.1. Global historic debit card market, 2016-2021, billion dollars
5.2. Global Debit Card Market Forecast, 2021-2026F, 2031F, Billion USD
6. Debit Card Market Segmentation
6.1. Global debit card market, segmentation by card type, history and forecast, 2016-2021, 2021-2026F, 2031F, billions of dollars
6.2. Global debit card market, segmentation by service provider, history and forecast, 2016-2021, 2021-2026F, 2031F, billions of dollars
6.3. Global debit card market, segmentation by application, history and forecast, 2016-2021, 2021-2026F, 2031F, billions of dollars
7. Regional and Country Analysis of the Debit Card Market
7.1. Global Debit Card Market, Split by Region, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
7.2. Global Debit Card Market, Split by Country, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
8-26. Debit Card Market Analysis by Country
27. Debit Card Market Competitive Landscape and Company Profiles
Capital One Financial Corp.
Bank of America
National Bank of India
For more information on this report, visit https://www.researchandmarkets.com/r/po4q1p
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