Global Credit Card Issuing Services Market Expected to Reach $952.2 Billion by 2031: Allied Market Research

Allied Market Research

Increasing demand for credit card services in developing countries, increase in contactless and digital credit card services, growing demand for cash alternatives and availability of low-cost credit cards are driving the growth of the global credit card services market . Regionally, the North American market was the largest in 2021 and is likely to maintain its leadership status during the forecast period.

Portland, Ore., Jan. 24, 2023 (GLOBE NEWSWIRE) — According to a report published by Allied Market Research, the global credit card services market generated $443.7 billion in 2021 and is expected to reach 952, 2 billion by 2031, witnessing a CAGR of 8.2% from 2022 to 2031. The report offers detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape and competitive scenario. The report is a useful source of information for leading market players, new entrants, investors, and stakeholders in developing strategies for the future and taking steps to strengthen their position in the market.

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Report Scope and Details:

Report coverage

Details

Forecast period

2022–2031

Base year

2021

Market size in 2021

$443.7 billion

Market Size in 2031

$952.2 billion

CAGR

8.2%

Number of pages in the report

183

Covered segments

Type, publishers, end users and region

Drivers

Increasing demand for credit card services in developing countries

Rise in contactless and digital credit card services

Growth in demand for cash alternatives

Availability of cheap credit cards

Opportunities

Technological innovations in product offerings

Limits

Increase in credit card fraud worldwide and higher interest rates on credit cards

Covid-19 scenario:

  • The outbreak of the COVID-19 pandemic has had a significant impact on the credit card services market. This is due to the lockdowns imposed by many countries in response to the rapid spread of the COVID-19 virus, which has affected activities in banking and many other industries. Increase in salary delays and job losses and decrease in borrowing by individuals to meet their day-to-day expenses have also affected the growth of the market.

  • Additionally, customers stopped taking out new credit cards and focused on paying off their debts. This is due to the huge loss of jobs and the government blockade of the respective countries around the world.

  • However, the market for credit card issuing services has recovered since the pandemic and the industry is expected to see very lucrative prospects in the coming years.

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The report offers detailed segmentation of the global credit card issuing services market based on type, issuers, end users, and region. The report provides analysis of each segment and sub-segment with the help of tables and figures. This analysis helps the market players, investors and new entrants in determining the sub-segments to use to achieve growth in the coming years.

On the basis of type, the consumer credit card segment held the largest share in 2021, accounting for more than four-fifths of the global credit card issuing services market, and will rule through 2031. However, the business credit card segment estimated to witness the fastest CAGR of 12.6% during the forecast period.

On the basis of issuers, the banks segment held the largest share in 2021, accounting for nearly two-thirds of the global credit card services market, and would lead the trail by 2031. However, the NBFC segment is expected to become witnessing the fastest CAGR of 12.2% during the forecast period. The report also discusses the credit union segment.

In terms of end user, the personal segment accounted for the largest market share of over four-fifths in 2021 and is expected to dominate the market during the forecast period. The business segment, on the other hand, is likely to achieve the fastest CAGR of 12.3% through 2031.

On the basis of region, the North American market was the largest in 2021, accounting for nearly two-fifths of the global credit card issuing services market and is likely to maintain its leadership status during the forecast period. However, the market in Asia Pacific is expected to exhibit the highest CAGR of 11.5% from 2022 to 2031. The other regions analyzed in the study include Europe and LAMEA.

The leading players in the global credit card issuing services market analyzed in the study include Fiserv, Inc., Marqeta, Inc., Stripe, Inc., Giesecke+Devrient GmbH, Entrust Corporation., GPUK LLP., Nium Pte. Ltd., FIS, Thales and American Express Company.

The report analyzes these key players in the global credit card issuing services market. These players have adopted various strategies such as expansion, new product launches, partnerships and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio and development of each market player.

Key benefits for stakeholders

  • This report provides quantitative analysis of market segments, current trends, estimates and dynamics of the Credit Card Issuing Services market analysis from 2021 to 2031 to identify prevailing market opportunities for Credit Card Issuing Services.

  • The market study is offered along with information related to key drivers, restraints, and opportunities.

  • Porter’s five forces analysis highlights the potential of buyers and suppliers to empower stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.

  • An in-depth analysis of the Credit Card Issuing Services market segmentation helps identify prevailing market opportunities.

  • The major countries in each region are mapped according to their revenue contribution to the global market.

  • The positioning of the players in the market facilitates benchmarking and provides a clear understanding of the current position of the players in the market.

  • The report includes analysis of regional and global Credit Card Issuing Services market trends, key players, market segments, application areas, and market growth strategies.

Credit card issuing services Key market segments:

Type

  • Consumer credit cards

  • Business credit cards

Issuers

End user

By region

  • north America (USA, Canada)

  • Europe (UK, Germany, France, Italy, Spain, Rest of Europe)

  • asia-pacific (China, Japan, India, Australia, South Korea, Rest of Asia Pacific)

  • LAMEA (Latin America, Middle East, Africa)

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Allied Market Research (AMR) is the market research and business consulting arm of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a single-minded focus on providing business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relationship with various companies and this helps us to extract market data which helps us to generate accurate data tables from surveys and confirms extreme accuracy in our market forecasts. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high data quality and help clients in every possible way to achieve success. All the data presented in the reports published by us are derived through primary interviews with senior executives from leading companies in the respective domain. Our secondary data delivery methodology involves in-depth online and offline research and discussions with experienced industry professionals and analysts.

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