Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Digital Business Card Market information by Type, by Platform, by Application and Region – forecast to 2027” market size to reach USD 242.3 million, growing at a compound annual growth rate of 11.2% by 2027.
Market Scope:
The increase in smartphone users will offer robust opportunities for the market over the forecast period. The accessibility of pocket friendly smartphone options has increased its popularity among consumers. The emergence of the social media platforms is the key factor boosting the smartphone popularity especially among millenials. The digital business card can be created easily and shared from the smartphone through SMS, LinkedIn, Facebook, WhatsApp, Facebook Messenger, Twitter, QR Code, and Email. Thus increasing smartphone users is boosting the adoption of digital business cards. With almost everyone owning a smartphone with internet connection, sharing of digital business cards have become more convenient.
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Dominant Key Players on Digital Business Card Market Covered are:
- HiHello Inc. (US)
- Haystack (Australia)
- Inigo (US)
- L-Card (US)
- Switchit (US)
- Adobe (US)
- Techno Infonet (India)
- me (US)
- SnapDat (US)
- CamCard (US)
- Mobilo (US)
- com (Quancore Group) (India)
- Knowee (Spain)
- Lulu Systems
- Inc. (US)
- Vistinkard (India)
Market USP Exclusively Encompassed:
Market Drivers
Growing Focus on Mobile Experience to Boost Market Growth
The growing focus on mobile experience especially prioritizing the Android Apps and Apple IOS will boost market growth over the forecast period.
Besides, the multiple benefits of using digital business cards such as customized options, editable, contactless, affordable, eco-friendly, convenience, and others, and the high flexibility of these cards as they enable users in updating changes like details, addresses, contacts, and other modifications along with notifying all who has it, keeping in touch with established collaborators are also adding market growth.
Need for Internet Connection to Receive or Share to act as Market Restraint
The need for internet connection to receive or share may act as market restraint over the forecast period.
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Competitive Analysis:
The global digital business card market is both fragmented and also competitive for the presence of different international domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers including collaborations, contracts, partnerships, joint ventures, geographic expansions, new product launches and more. Besides, they are also investing in various research and development activities.
Segmentation of Market Covered in the Research:
The global digital business card market is bifurcated based on application, pricing, platform, and type.
By type, the enterprise segment will lead the market over the forecast period.
By platform, the Android segment will dominate the market over the forecast period.
By pricing, the yearly pricing segment will spearhead the market over the forecast period for the heavy discounts on yearly subscriptions provided by the companies. Enterprises and businesses are the key target clients of the yearly subscriptions. The individual segment however is also gaining a boost.
By application, the consultants, marketing agencies, sales entrepreneurs, and business owners are key contributors.
Regional Analysis
North America to Head Digital Business Card Market
North America will head the digital business card market over the forecast period. Rapid digitalization in different enterprises and businesses, consumers being highly environmentally conscious, the significance of sustainability among enterprises and companies that has increased substantially, the growing adoption of digital business cards, and self-employed people freelancers shifting towards digital business cards for exchanging information digitally are adding to the global digital business card market growth in the region.
APAC to Have Remarkable Growth in Digital Business Card Market
The APAC region will have remarkable growth in the digital business card market over the forecast period and at a favorable CAGR. Digitalization among businesses, majority of the businesses shifting towards social media and online, and growing demand for digital business cards in Australia, South Korea, India, Japan, and China are adding to the global digital business card market growth in the region. Further, Southeast Asian countries like Singapore and Malaysia have emerged as top markets for digital business cards in recent years. The region has innumerable SMEs that are also boosting market growth.
COVID-19 Impact on the Global Digital Business Card Market
During the COVID-19 outbreak, businesses and people had been seeking ways for exchanging contact information in a completely touch-free way. Among social distancing, a digital business card turned into a prominent pick for businesses and people. For the pandemic there has been a move to virtual meetings, video conferencing, and remote working for environmental awareness and economic development efficiency. The crisis has increased the trend towards online interaction which has experienced an increase in virtual investor events and made remote working a norm for the majority of the office-based workers.
Industry News
With an aim to assist entrepreneurs and startups to maintain complex networking databases simpler, Sailax, a leading Indian-Australian company has launched digital business card solutions. The digital business card is an app based solution which allows users in sharing their contact information/social media profiles with a single tap. The application prioritizes reliability, data security and also promotes the usage of green technologies.
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