Digital Business Card Market and an Ever-Growing Fraction of the World’s Population Utilising Smartphones
Future Market research insights:
By 2027, the market for digital business cards had reached a value of USD 242.3 million, growing at a CAGR of 11.2% between 2021 and 2027.
An online method of exchanging contact information is a digital business card, commonly referred to as a virtual or electronic business card. Digital business cards are generally more affordable than paper alternatives and may be made on an Android, iPhone, iPad, or PC. Digital business cards are similar to traditional business cards in that they may be created, personalised, and sent to anybody. With digital cards, there are no size restrictions; the user is free to include as much or as little information as they choose.
Its appeal among customers has grown as a result of the availability of less expensive smartphone choices. The main factor driving millennials’ increased use of smartphones is the rise of social media. Worldwide, there are already over three billion smartphone users, and this figure is rising quickly.
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From a smartphone, it is simple to generate and distribute a digital business card via text (SMS), email, QR code, Twitter, Facebook Messenger, WhatsApp, Facebook, and LinkedIn. As a result, an increase in smartphone users is spurring the development of digital business cards. Considering that everyone has a smartphone with internet access, exchanging digital business cards is now simple and convenient.
Regional analysis:
During the anticipated period, the worldwide market for digital business cards is anticipated to generate sizable revenues from many continents. North America, Europe, Asia-Pacific (APAC), the Middle East & Africa, and South America have all been included in the geographic study of the digital business card industry. Asia-Pacific is further divided into China, Japan, India, and the Rest of Asia-Pacific, whereas Europe is further divided into the UK, Germany, France, and the Rest of Europe.
Due to the continuous digitization of many industries and enterprises, North America now maintains the largest market share for digital business cards. The use of digital business cards is being accelerated by consumers who are more environmentally concerned and by businesses and organisations that now place a greater emphasis on sustainability. In order to transmit information more effectively, independent contractors and other self-employed individuals are also moving toward digital business cards.
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Market segmentation:
Type, platform, pricing, application, and region/country are the several market segments for digital business cards on a worldwide scale.
The digital business card industry has been divided into three categories based on type: individual users, business users, and enterprise users. The market’s greatest share belongs to the enterprise user segment, which is anticipated to continue to dominate over the anticipated time frame.
The digital business card industry has been segmented into iOS, Android, and Windows based on platform. The Android market category now has the biggest market share, and it is anticipated that it will continue to dominate for the whole anticipated time.
The digital business card industry has been divided into monthly and yearly segments based on pricing. The sector with annual pricing has a bigger market share. This might be attributable to the firms’ substantial discounts on annual memberships. The annual subscription’s main target market is businesses and enterprises. But the individual segment is also expanding quickly.
The worldwide market for digital business cards is divided into many application categories, including company owners, sales entrepreneurs, marketing agencies, events and travel, software & IT, education and training, finance & realtors, health and beauty, consultants, and others. The main drivers of the expansion of the worldwide market are business owners, salespeople, marketing firms, and consultants.
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Key Players:
Companies like HiHello, Inc. (United States), Haystack (Australia), Inigo (United States), L-Card (United States), Switchit (United States), Adobe (United States), Techno Infonet (India), me (United States), SnapDat (United States), CamCard (United States), Mobilo (United States), com (Quancore Group) (India), Knowee (Spain)
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