DUBLIN--(BUSINESS WIRE)--The "Debit Card Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
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 grow to $96.84 billion in 2026 at a CAGR of 1%.
Asia Pacific was the largest region in the debit card market in 2021. Western Europe was the second largest region in the debit card market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Reduction in the use of cash following various factors contributed to the growth of the debit card market. Various institutional bodies and governments are trying to minimize the use of cash as cashless transactions reduce the risk of crime and money laundering, lessen tax evasion, and reduce transaction costs for businesses. In June 2021, according to Financial Times, there was a 35% reduction in cash payments. Thus, reduced use of cash and the ongoing trend of digital payments is expected to drive the debit card market.
The universal presence of mobile has increased the use of mobile payments and wallets which are expected to restrain the debit card market growth. Mobile wallet refers to a payment service through which payments could be received or sent using mobile. According to a Forbes article published in March 2020, mobile payments in the USA exceeded $130 billion in 2020. Most mobile wallets have built-in security such as fingerprint Touch ID, six-digit password, and other features that reduce the risk of fraud. Ease of transaction and more safety features in the mobile wallet will increase its use, restricting the growth of other payment modes including debit cards thus restraining its market growth.
Cryptocurrency debit card is a new trend in the cards industry. Crypto debit cards act as an efficient bridge between the existing financial systems and the crypto world. They offer instant purchasing power from bitcoin or other cryptocurrencies. Crypto-backed debit cards allow cardholders to make payments and withdrawal of fiat currency from 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 the market's historic and forecast market growth by geography. It places the market within the context of the wider debit card market, and compares it with other markets.
Key Topics Covered:
1. Executive Summary
2. Debit Card Market Characteristics
3. Debit Card Market Trends And Strategies
4. Impact Of COVID-19 On Debit Card
5. Debit Card Market Size And Growth
5.1. Global Debit Card Historic Market, 2016-2021, $ Billion
5.2. Global Debit Card Forecast Market, 2021-2026F, 2031F, $ Billion
6. Debit Card Market Segmentation
6.1. Global Debit Card Market, Segmentation By Card Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.2. Global Debit Card Market, Segmentation By Service Provider, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.3. Global Debit Card Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7. Debit Card Market Regional And Country Analysis
7.1. Global Debit Card Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Debit Card Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
8-26. Individual Country Debit Card Market Analysis
27. Debit Card Market Competitive Landscape And Company Profiles
- Capital One Financial Corp.
- American Express
- Visa
- MasterCard
- Citigroup
- PayPal Holdings
- Bank of America
- JPMorgan Chase
- PayU
- State Bank of India
- HDFC Bank
- US Bank
- Wells Fargo
For more information about this report visit https://www.researchandmarkets.com/r/po4q1p
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