The increasing digitalization along with rising number of smartphone users is projected to magnify growth in the global Digital Business Card Market
Covid-19 Impact & Market Status
The report offers an exhaustive overview of the business dynamics and new investment strategies that are being adopted by business leaders across countries and regions to overcome the acute challenges and financial instabilities that have emerged in the post pandemic times.
The report highlights some of the best industry strategies and practices that are adopted by the players across local and global markets. Ever since the Covid-19 broke out in 2019, it has spread aggressively, resulting in rapid declaration by the WHO affirming Covid-19 as a global pandemic and an emergency.
The impact of the pandemic is widespread and the aftermath is well pronounced, gravely affecting the global Digital Business Card chip market. The sudden pandemic and its implications have posed significant challenges such as travel bans, quarantines, and lockdowns.
These developments are hampering operations resulting in supply chain breaches, stock market inefficiencies, and vendor chaos. These are constantly interfering with the normal functioning of industries.
Ever since the outbreak of the global crisis, impact on upstream, downstream, and midstream industries have been appalling. The report delivers a quick ready-to-deploy approach to counter such crisis and steer the global Digital Business Card market towards steady growth and systematic progression.
Amidst the pandemic, aligning with new dynamics, global Digital Business Card market has been witnessing new dynamics which are further necessitating new business models and approaches to recoup growth and revenue streams.
In this report, inquisitive business players would be provided with sufficient guidelines regarding business transformation, integral to sustain stiffening competition in the pandemic and beyond pandemic era global Digital Business Card market.
Digital Business Card for individual users segment to Sustain the Highest Revenues, Followed by business Users
The growing focus on the mobile experience, with Apple IOS and Android Apps being prioritised. Users are becoming more aware of emerging trends such as increased adoption from businesses with analytic features. This is projected to boost the demand for digital business cards. On ther hand, the business users segment is anticipated to grow at the significant CAGR over the forecast period.
Business Owners Digital Business Card application Segment to be the Most Lucrative
Rising demand for managing finance across different sector such as BFSI, manufacturing, IT services is boosting the growth of business owners segment. Moreover, the growing adoption of advanced technologies such as big data, IoT devices is anticipated to bolster the demand for digital business card. Business Owners segment is anticipated to account for largest revenue share. The marketing agencies segment is estimated to lucrative growth opportunity for market growth.
APAC to Sweep the Largest Revenue Streams Followed by North America
APAC is the largest contributor to this market, followed by Europe and then North America. In Asia, the presence of nations like China and India, with their massive subscriber bases and constantly shifting regulatory and competitive landscapes, has raised demand for Digital Business Card systems. North America, on the other hand, is confronted with the challenges of a deregulated telecom sector.
Further, game type such as the racing is one of the fastest growing segment in application which in turn is favoring rampant expansion of the global Digital Business Card market across regions such as North America and Asia Pacific. Consumer preferences for enhanced customer service with real-time billing experience is expected to gain traction in the global Digital Business Card market.
Easy and fast access with secured functions is expected to offer new opportunities in the global Digital Business Card market
The market for business cards is being replaced by digital business cards. Business contacts are instantaneously downloaded to the user's smartphone via an Android application, which allows the user to explore all contacts and store or retrieve contacts from the cloud. This is sometimes referred to as a platform for handling customer-to-customer cards. Augmented reality and near field communications are the most recent technologies employed in digital business cards. The growing practise of exchanging cards and then forgetting about it. However, as time passes, people recognise that meeting in person and remaining in touch are essential components of a healthy professional relationship. Professionally and efficiently engage individuals using digital business cards. Nearly 68.0% of small and medium businesses in industrialised countries believe that having a digital presence helps them acquire customers, demonstrating that the future is digital, which includes business cards. North America is brimming with entrepreneurs who understand the value of networking. Furthermore, in North America, the app accuracy rate is really high, and this factor boosts the industry. Because the government is taking various steps to become more environmentally friendly, adopting digitally reduces the cost of printing.
Despite a minor growth dip owing to Covid-19 implications, the global Digital Business Card market is expected to recoup growth and register a CAGR over the forecast period.
A virtual or electronic business card is also known as a digital business card. It's a method of exchanging contact information over the internet. Digital business cards can be made on an Android, iPhone, iPad, or PC, and they are generally less expensive than traditional business cards. Digital business cards can be produced, customised, and shared with anybody, just like traditional business cards. With digital cards, there are no space limitations; a user can include as much or as little information as they want. A user can add a video or photo, a logo, social media profiles, and much more to a card in addition to basic contact information (such as name, email, firm, and phone number). This data can be displayed in a variety of languages, depending on the user's preference. Text (SMS), email, QR code, Facebook Messenger, Twitter, Telegram, WhatsApp, Facebook, and LinkedIn, among other channels, can be used to distribute the digital business card.
Furthermore, digital business cards have a significant advantage over traditional business cards (paper business cards) in that they allow you to make contacts interactive and insert unique features and functions within the card. Instant contact saving (to a phone book or CRM system), quick access to web pages, or QR codes that monitor who checked business cards or take them to a map location, to name a few examples, are all good examples. Furthermore, digital business cards are adaptable since they allow a user to update details, contacts, addresses, and other changes and tell everyone who has it, allowing them to stay in touch with long-term partners. Digital business cards eliminate many of the problems that traditional business cards have, as well as the costs associated with producing all of those pieces of paper. Digital business cards are the way to go for a variety of reasons. Virtual business cards provide many advantages, like convenience, eco-friendliness, affordability, contactless, editability, and customization, to name a few.
Market growth is projected to be aided by factors such as an increase in the number of social media web pages and a rise in the number of government programmes aimed at digitization. Another important driver projected to enhance market growth throughout the forecast period is a growing focus on the mobile experience, with Apple IOS and Android Apps being prioritised. Users are becoming more aware of emerging trends such as increased adoption from businesses with analytic features, reduced labour costs, and high-quality printing. However, the digital business card industry is constrained by the fact that it requires an internet connection to transmit or receive and is less memorable than traditional business cards.
The major players of the global Digital Business Card market are HiHello, Inc., Haystack, Inigo, L-Card, Switchit, Adobe, Techno Infonet, About.me, SnapDat, CamCard, Mobilo, DziCard.com (Quancore Group), Knowee, Lulu Systems, Inc., and Vistinkard.
The Digital Business Card market is a rapidly progressing industry and is characterized to have industrial frontliners as well as aspiring new players aiming to penetrate into the aggressive competitive landscape across global and local markets. Additionally, various new and aspiring players are improving their product lines and upgrading technological capabilities to improve revenue streams amidst Covid-19 impact.
Latest Innovations in the Global Digital Business Card Market: a Snapshot
- In August 2021, HiHello, a digital business card and contact manager app, has raised $7.5 million in a Series A funding round led by Foundry Group along with participation of Lux Capital and August Capital.
Digital Business Card Market Scope
|Forecast Unit||Value (USD)|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and South Africa|
|Key Players Profiled||HiHello, Inc., Haystack, Inigo, L-Card, Switchit, Adobe, Techno Infonet, About.me, SnapDat, CamCard, Mobilo, DziCard.com (Quancore Group), Knowee, Lulu Systems, Inc., and Vistinkard.|
Key Segments of the Global Digital Business Card Market
Type Overview, 2018-2028 (USD Billion)
- Individual Users
- Business Users
Application Overview, 2018-2028 (USD Billion)
- Business Owners
- Sales Entrepreneurs
- Marketing Agencies
- Events and Travels
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa