New York, USA, May 25, 2023 (GLOBE NEWSWIRE) -- According to the market research report published by Market Research Future (MRFR), "Digital Business Card Market Information by Type, Platform, Pricing, Application and Region - Forecast till 2030”, the Digital Business Card Market could thrive at a rate of 6.90% between 2022 and 2030. The market size will reach around USD 6 billion by the end of the year 2030.
Market Synopsis:
In today's digital age, the use of paper-based business cards is becoming outdated, giving way to a more advanced and efficient solution: digital business cards. As the name suggests, digital business cards are virtual cards that can be exchanged and shared through digital platforms such as smartphones, email, or social media. These cards offer numerous benefits over their traditional counterparts, including environmental friendliness, cost-effectiveness, and ease of sharing. With the growing demand for digitalization and virtual communication, the digital business card market is expected to witness significant growth in the coming years.
Digital business cards are primarily used for networking and communication purposes. They offer a quick and easy way to exchange contact information, allowing individuals and businesses to build and maintain professional connections effortlessly. These cards can be customized to include various forms of media, such as videos, images, and links to social media profiles, making them more engaging and memorable than traditional cards. Additionally, digital business cards can be easily updated and shared, eliminating the need for frequent printing and distribution of paper-based cards. This not only saves time and money but also reduces waste and contributes to a more sustainable environment.
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Market Competitive Landscape:
The affluent companies in the Digital Business Card industry include:
- Haystack
- HiHello Inc.
- Inigo
- L-Card
- Switchit
- Adobe
- SnapDat
- CamCard (US)
Latest Industry Updates (March 2021) -
LinkedIn announced the launch of its new feature, LinkedIn QR Code, which allows users to quickly connect with others by scanning a unique QR code. This feature enables users to create and share digital business cards, making it easier to connect with other professionals on the platform. This development is significant for the digital business card market as it demonstrates the growing demand for virtual communication and networking solutions. With LinkedIn being a leading professional networking platform, this feature is expected to drive the adoption of digital business cards among its users.
Scope of the Report - Digital Business Card Market:
| Report Metrics | Details |
| Market Size by 2030 | USD 6 Billion |
| CAGR during 2022-2030 | 6.90% |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Key Market Opportunities | APAC is filled with numerous small and medium-sized organizations, which could fuel major opportunities during upcoming years. |
| Key Market Dynamics | Increasing Number of Smartphones Users Worldwide The emergence of social media is the major booster for smartphone popularity among the Millennials. |
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Market USP Covered:
Market Drivers:
One of the primary driving factors for the digital business card market is the increasing demand for virtual communication and networking solutions. With the rise of remote work and virtual events, the need for efficient and effective communication tools has become more critical than ever. Digital business cards offer a convenient and modern way of exchanging contact information, allowing professionals to connect and network with ease.
Another driving factor for the digital business card market is the growing concern for environmental sustainability. The use of paper-based business cards contributes to deforestation and environmental degradation. Digital business cards, on the other hand, offer a more sustainable and eco-friendly solution, reducing paper waste and promoting a greener environment.
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Market Restraints:
Despite the numerous benefits offered by digital business cards, some factors may restrain the growth of the market. One such factor is the lack of awareness and understanding of digital business cards among some professionals. Many individuals and businesses may still prefer traditional paper-based cards and convincing them to switch to digital may prove challenging.
Another factor that may restrain the market is the dependence on technology. Digital business cards require the use of smartphones, internet connectivity, and compatible software to be effective. Any technical issues or malfunctions may hinder the functionality of digital business cards, which could deter users from adopting them.
COVID 19 Analysis:
The COVID-19 pandemic has accelerated the adoption of virtual communication and networking solutions, including digital business cards. With the rise of remote work and virtual events, traditional methods of networking and communication have become impractical. Digital business cards offer a safe and effective way to exchange contact information, eliminating the need for physical contact or shared surfaces.
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Market Segmentation:
- By Type - The Types in the market include Individual Users, Business Users, and Enterprise Users.
- By Platform - By Platform, the segment includes iOS, Android, and Windows
- By Pricing - By Pricing, the segment includes Monthly and Yearly.
- By Application - By Application, the segment includes Business Owners, Sales Entrepreneurs, Marketing Agencies, Events and Travels, Software & IT, Education and Training, Finance & Realtors, Health and Beauty, Consultants, and Others.
Regional Insights:
The digital business card market is dominated by North America, owing to the high adoption rate of advanced technologies and the presence of key market players in the region. The United States is the largest market for digital business cards in North America, owing to the high usage of smartphones and the growing need for digitization of business cards. The Asia-Pacific region is expected to witness significant growth, driven by the increasing adoption of smartphones and the growing need for contactless business communication in the region. Countries like China, Japan, and India are expected to be the major contributors to the growth of the digital business card market in the Asia-Pacific region.
Europe is also expected to witness significant growth in the digital business card market, driven by the growing trend of paperless communication in businesses and the need for sustainable and eco-friendly practices. Countries like Germany, France, and the UK are expected to be major contributors to the growth of the digital business card market in Europe. The increasing focus on the digital transformation of businesses and the growing adoption of advanced technologies like AI and cloud computing in the region are also expected to drive the market growth in Europe.
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