According to this new market study by Fact.MR, a market research and competitive intelligence provider, the global digital business card market is estimated to reach US$ 500 million by 2033, expanding rapidly at 9.5% CAGR from 2023 to 2033.
A digital business card is also referred to as an electronic or virtual business card. It is a method of sharing contact information online. Digital business cards can be made on an Android, iPad, iPhone, or computer and are frequently less expensive than paper versions. Digital business cards, like traditional business cards, can be produced, altered, and shared with anybody. There are no space limits with digital cards; users can put as little or as much information on the card as they want.
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Key Takeaways from Market Study
- The global digital business card market is valued at US$ 200 million in 2023.
- Worldwide demand for digital business cards is forecasted to surge at a CAGR of 9.5% during the forecast period (2023 to 2033).
- The digital business card market is set to touch US$ 500 million by 2033.
- North America is projected to lead the global digital business card market over the next ten years.
“Digital business cards to witness enormous demand growth due to their many advantages such as convenience, affordability, environmental friendliness, contactless functionality, and customization options,” says a Fact.MR analyst.
One significant advantage of digital business cards over conventional business cards) is that they allow for the interaction of contacts and the incorporation of unique features and functions into a card. The finest example is instant contact saving (to a CRM system or phone book), quick access to web pages, or QR codes that, among other things, monitor who viewed business cards or take them to a map location.
The global market is becoming increasingly competitive with a growing number of participants. Key players in the electronic business card market are focusing on collaborations, mergers and acquisitions, product/technology releases, and expansion. Moreover, leading players are making significant investments to accelerate the creation of innovative digital business cards.
- Adobe partnered with Meta, Mastercard, and Etsy in October 2022 to develop digital solutions for small and medium-sized businesses. It will give small and medium-sized enterprises access to Adobe’s document cloud and creative cloud.
Digital business cards are adaptable since they allow users to update details, addresses, contacts, and other changes and notify everyone who has it, potentially keeping in touch with established partners. Digital business cards solve various issues that can occur with traditional business cards while lowering the costs associated with printing all those sheets of paper. All these advantages boost the adoption of digital business cards.
Increasing smartphone users, the rising importance of sustainability, and the growing number of government digitization initiatives are major aspects projected to fuel the global market expansion during the forecast period.
North America is dominating the global digital business card market. The United States is a leading market in the region due to the presence of several major market players in the country. India, South Korea, and Japan are significantly supporting the Asia Pacific market due to rapid digitization in these countries. Moreover, the European market is experiencing considerable growth due to the increasing need for advanced digital solutions in the United Kingdom and Germany.
Key Segments of Digital Business Card Industry Research
- By User Type:
- Individual Users
- Business Users
- By Platform:
- By End User:
- IT and Telecommunications
- Marketing Agencies
- Sales Entrepreneurs
- By Region:
- North America
- Latin America
- Asia Pacific & China
- Middle East & Africa
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global digital business card market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on user type (individual users, business users, others), platform (android, iOS, Windows), and end user (IT & telecommunications, marketing agencies, BFSI, sales entrepreneurs, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Key Questions Covered in the Digital Business Card Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Digital Business Card sales grow until 2033?
- Which are the factors hampering the Digital Business Card demand?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Digital Business Card Market during the forecast period?