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市场调查报告书
商品编码
1498366
全球信用卡市场评估:依类型、供应商、应用程式、地区、机会、预测(2017-2031)Global Credit Card Market Assessment, By Type, By Provider, By Application, By Region, Opportunities and Forecast, 2017-2031 |
全球信用卡市场规模预计将从 2023 年的 1,609.3 亿美元增至 2031 年的 3,249 亿美元,2024-2031 年预测期间复合年增长率为 9.23%。该市场是现代金融生态系统中最重要的市场之一,提供提供金融槓桿的重要金融工具。信用卡为消费者提供了便利、灵活、安全的付款方式,这是信用卡在各地区、各人群中广泛采用的驱动因素。市场正在经历各种变化,包括持卡人数量的增加、市场上提供的创新产品以及支付技术进步带来的支付安全性的提高。线上购物的日益普及,以及对非接触式支付和数位钱包不断增长的需求,进一步推动了全球信用卡市场的成长。
在现代经济中,信用卡不仅仅是一种支付手段。信用卡也是一种金融产品,提供多种福利,例如奖励计划、现金返还优惠、旅行福利和购买保护,这使其对消费者更具吸引力。信用卡是一种金融工具,即使没有信用记录或信用评分的人也可以使用。在全球信用卡市场上,银行和非银行金融公司等多家公司提供各种类型的信用卡,从普通卡到可用于购买食品和杂项商品、旅游和娱乐等多种用途的卡片。金融机构和金融科技公司正在努力提供新的功能和服务,例如即时交易警报、增强的安全措施和个人化的支出洞察,以满足精通科技的消费者不断变化的需求。
转向无现金交易推动市场扩张
无现金交易的增加预计将推动信用卡市场的成长,特别是自 COVID-19 大流行开始以来。随着越来越多的人喜欢电子支付的便利性和安全性,信用卡的使用量激增。因此,信用卡公司正在提供有吸引力的福利、无缝的数位体验,并推动创新以占领更大的市场占有率。数位贸易也有助于促进公平和永续发展并创造机会。数位帐单支付和储蓄选项不仅可以确保公平结算,还可以建立财务记录,可用于申请信贷、开设储蓄和投资帐户以及购买产生财富的稳定资产。
根据Discover Global Network 发布的《重新定义全球经济机会并促进永续发展目标》报告,2021-2022 年全球非接触式支付销售额将年增109% 以上,这凸显了向非接触式支付的转变
数位转型加速成长
全球信用卡市场及其产品和服务的数位转型引人注目,对全球信用卡市场产生了重大影响,彻底改变了信用卡的应用、处理和服务方式。技术进步、消费者偏好的变化以及对更有效率、更便捷流程的需求推动了向数位银行和线上服务的转变。数位转型简化了信用卡申请流程,使申请人可以透过家庭或行动装置在线申请信用卡。线上申请消除了实体文书工作的需要,并允许借款人以电子方式提交所需文件,从而减少处理时间并提高效率。
本报告研究和分析了全球信用卡市场,提供市场规模和预测、市场动态以及主要参与者的现状和前景。
Global credit card market is projected to witness a CAGR of 9.23% during the forecast period 2024-2031, growing from USD 160.93 billion in 2023 to USD 324.90 billion in 2031. The global credit card market is one of the most significant markets of the modern financial ecosystem, providing an essential financial tool that provides financial leverage. Credit cards offer consumers a convenient, flexible, and secure payment method, which has driven their widespread adoption across various regions and demographic segments. The market is undergoing various transformations, such as the number of cardholders increasing, innovative products being offered in the market, and advancements in payment technologies making payments more secure. The proliferation of online shopping, coupled with the rising demand for contactless payments and digital wallets, has further propelled the growth of the global credit card market.
In the modern economy, credit cards are more than a mode of payment tool. They also serve as financial products that provide various benefits such as reward programs, cashback offers, travel perks, and purchase protection, enhancing their appeal to consumers. Credit cards are a financial tool that is available to people who don't have a credit history or a credit score. The global credit card market is flooded with multiple players, such as Banks and NBFCs, offering various types of credit cards ranging from general to multiple purposes such as spending on food and groceries, travel, entertainment, and others. Financial institutions and fintech companies are continuously innovating to offer new features and services, such as real-time transaction alerts, enhanced security measures, and personalized spending insights, to meet the evolving needs of tech-savvy consumers.
Shift to Cashless Transactions is Driving Market Expansion
An increase in the number of cashless transactions, especially since the beginning of the COVID-19 pandemic, is expected to propel the growth of the credit card market. With more people preferring the convenience and security of electronic payments, credit card usage has surged. This has also prompted credit card companies to innovate, offering attractive rewards, perks, and seamless digital experiences to capture a larger market share. Digital transactions also help to promote and create opportunities for equitable and sustainable development. Digital bill pay and savings alternatives can assist people in ensuring they are paid fairly, as well as establishing financial records that can be used to apply for credit, open savings and investment accounts, and purchase wealth-generating and stable assets.
According to a report by Discover Global Network on Redefining Global Economic Opportunity & Promoting Sustainable Development Goals, contactless sales volume has increased 109%+ year-on-year from 2021 to 2022 globally, highlighting the shift towards cashless payments.
Digital transformation to accelerate growth
The digital transformation of global credit card market and its products and services is tremendous and has profoundly impacted the global credit card market, revolutionizing how credit cards are applied, processed, and serviced. This shift towards digital banking and online services has been driven by technological advancements, changing consumer preferences, and the need for more efficient and convenient processes. Digital transformation has streamlined the credit card application process, allowing applicant to apply for credit cards online from the comfort of their homes or on their mobile devices. Online applications eliminate the need for physical paperwork and enable borrowers to submit required documentation electronically, reducing processing times and improving efficiency.
In the wake of the digital transformation of the global credit card market, accessibility to the internet and digital devices has played a key role in elevating the overall customer experience. Applicants can track their credit card application status, make payments, and access account information through user-friendly online portals or mobile apps. Real-time customer support and chatbots further improve accessibility and responsiveness. The shift towards digital payment solutions will continue to gain momentum, with more consumers adopting mobile wallets, contactless payments, and digital-only credit cards. This trend will be fueled by the convenience, speed, and security offered by digital payment methods. As more of the global economy gets digitalized, the increasing number of credit card applications and issuance will be registered driving the overall global credit card market.
Specialty Credit Cards propel market expansion
The global credit card market is displaying an impressive growth trajectory. Specialty credit cards hold a massive market share, contributing to the market's overall growth. Many credit card issuing institutions have partnerships and collaborations with various brands and companies that offer specialty credit cards. For instance, a bank offering a credit card collaborated with Walmart can provide an individual with cashback or extra rewards for using that card for payment at Walmart stores, thus making a credit card more attractive to buyers who do most of their shopping from Walmart.
In March 2024, Tymit, a UK-based credit company, teamed up with Harley-Davidson to provide its clients with a credit card specifically designed for installment payments in the United Kingdom. Cardholders will also be able to access a range of incentives on Harley-Davidson products and services.
In the forecast period, the global credit card market will see a greater emphasis on personalization and customization. Advanced data analytics will enable issuers to offer tailored rewards, spending insights, and financial products, match individual preferences and behaviors, enhancing customer satisfaction and loyalty.
North America Dominates the Market
The credit card market is dominant in North America, owing to factors such as highly established financial infrastructure and a mature credit card sector in the United States. This industry is distinguished by its large network of credit card issuers, payment processors, and financial institutions. Notably, major credit card networks such as Visa, Mastercard, American Express, and Discover have headquarters in the United States, bolstering its global supremacy. Second, credit card use is profoundly embedded in consumer buying habits, especially in the United States. The widespread acceptance of credit cards for everyday purchases in retail, dining, travel, and online shopping contributes to the region's high credit card penetration rate.
According to the Federal Reserve, 82% of Americans owned a credit card in 2022. By the time they are 25 years old, 73% of Americans own a credit card, making credit cards the most prevalent way for young individuals to establish credit. The number of new card accounts among those customers is rising. Since over half of the population (45.5%) in the United States established at least one new account in the last year, there will be over 542.6 million accounts by the end of 2023.
On the contrary, developing countries will dominate the global credit card market in the coming years, displaying a high growth rate, owing to rising disposable incomes, financial literacy, and ramping up urbanization. India, China, Vietnam, Indonesia, Brazil, and Argentina will be the top countries driving the new credit accounts in the global credit card market to the aggressive marketing and sales strategies by the banks, NBFCs, and other financial institutions that issue credit cards.
In February 2024, the total number of credit cards issued by Indian banks crossed the 100 million card threshold, an increase of 1.1 million cards from the previous month. According to the Reserve Bank of India's most recent figures, as of February, 100.60 million credit cards were outstanding in the system. There were 99.5 million cards in circulation as of February 2023. With 20.40 million credit cards in use, HDFC Bank leads the industry in credit card issuing. Axis Bank has 13.90 million cards, ICICI Bank has 16.84 million, and SBI Card has 18.75 million cards. These three banks are significant players in the market.
Future Market Scenario (2024 - 2031F)
The digital transformation will continue to drive innovation in the global credit card market. Fintech companies and NBFCs will leverage technology to enhance customer experiences, streamline credit card processes, and offer personalized products tailored to individual profiles.
In the coming years, the major players in the global credit card market will adopt significant technologies such as artificial intelligence, machine learning, and blockchain that will enhance the security, efficiency, and personalization of credit card services. These technologies will assist in fraud prevention, deeper data insights, and evaluative credit scoring.
Emerging markets will play a crucial role in the future expansion of the global credit card market. Globalization and increase in financial inclusion, supported by mobile banking and innovative credit assessment methods, will bring millions of unbanked and underbanked individuals into the financial system. This growth will be particularly significant in the developing regions of Asia, Africa, and Latin America.
Key Players Landscape and Outlook
The outlook for the global credit card market is highly positive. The market is expected to continue to grow and expand in the coming years. Financial institutions such as banks, NBFCs, fintech companies, and various brands will incorporate more advanced technologies such as AI and ML in collaboration with financial institutions in the coming years. As the major chunk of the population in the developing regions of Asia and Africa will be exposed to digitization, urbanization, and financial literacy, they will adapt to online financial services and further push the global credit card market growth.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work