Iran Digital Gift Card E Gift Card Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 274.20 Million |
| Market Size (2029) | USD 431.07 Million |
| CAGR (2024 - 2029) | 9.47 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Iran Digital Gift Card E Gift Card Market Analysis
The Iran Digital Gift Card E Gift Card Market size is estimated at USD 274.20 million in 2024, and is expected to reach USD 431.07 million by 2029, at a CAGR of 9.47% during the forecast period (2024-2029).
The Iran Digital Gift Card (E-Gift Card) Market is experiencing steady growth, driven by increased digitalization, rising e-commerce penetration, and growing demand for convenient gifting solutions. Digital gift cards, also known as e-gift cards, offer consumers the flexibility to make purchases online or in-store, catering to various sectors, including retail, travel, gaming, and food services. They are available in two primary forms: open-loop cards, which can be used at any merchant within a specific network, and closed-loop cards, limited to specific retailers or service providers.
Corporations are also contributing to the market’s expansion by utilizing digital gift cards for employee rewards, customer loyalty programs, and promotional campaigns. The market is segmented by product type, application, end-user, and distribution channel, with significant adoption in both individual and corporate segments.
The shift towards digital transactions has further been fueled by the growing use of smartphones and mobile wallets, making e-gift cards more accessible through online platforms. These cards are typically delivered via email, messaging apps, or through digital platforms, making them a popular choice for last-minute gifting. As e-commerce continues to rise in Iran, the digital gift card market is expected to see sustained growth across various industries.
Iran Digital Gift Card E Gift Card Market Trends
Iran's E-Commerce Sector Continues Its Steady Ascent
The key trend in Iran’s e-commerce market is the steady and consistent increase in market share within the retail sector, with online platforms taking a progressively larger portion of the market. This growth trend reflects a significant shift in consumer behavior towards online shopping, largely driven by key factors. One of the main reasons is widespread internet access, allowing more Iranians to shop online. Additionally, the country’s young, tech-savvy population has been instrumental in adopting e-commerce due to their familiarity with technology and preference for convenience. Improved logistics and delivery services have also made online shopping more reliable, boosting consumer confidence and further driving the trend.
Despite minor fluctuations, the overall trend shows a continued upward trajectory, with e-commerce increasingly becoming a dominant force in the retail landscape. This steady growth highlights the ongoing shift toward digital platforms, signaling a fundamental transformation in how retail operates in Iran and emphasizing the importance of e-commerce in the future of the country’s retail market.
Rising Adoption of Digital Payment Solutions Drives Growth in Iran's E-Gift Card Market
In the Iran Digital Gift Card and E-Gift Card Market, one key trend is the increasing adoption of digital payment solutions among the youth demographic, particularly those aged 15-64. As Iran’s younger population becomes more tech-savvy and embraces digital payment methods, the demand for digital gift cards and e-gift cards is rising. The widespread use of smartphones, internet access, and a growing preference for online shopping drives this shift.
The trend is evident in the purchasing behaviors of individuals aged 15-64, who are increasingly inclined toward digital alternatives for shopping, gifting, and rewards. This demographic, familiar with digital transactions and e-commerce platforms, sees e-gift cards as a convenient and secure payment method, particularly for online shopping. The trend is further fueled by the rise of social media and online promotions, which often offer digital gift cards as incentives.
As the younger population continues to embrace digital technologies, businesses are capitalizing on this shift by offering e-gift cards as part of their marketing strategies. Companies in Iran are also developing user-friendly platforms for digital gift card purchases, expanding their reach to a tech-savvy audience. This trend is expected to drive further growth in the digital gift card market as more consumers opt for these convenient, digital gifting options.
Iran Digital Gift Card E Gift Card Industry Overview
The Iran Digital Gift Card and E-Gift Card market is fragmented, characterized by numerous players offering diverse options. Key players include Zanbil, Digikala, Modiseh, Albasco, and Shixon, each catering to different consumer preferences, leading to a dynamic and competitive landscape within the growing e-commerce sector.
Iran Digital Gift Card E Gift Card Market Leaders
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Zanbil
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Digikala
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Modiseh
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Albasco
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Shixon
*Disclaimer: Major Players sorted in no particular order
Iran Digital Gift Card E Gift Card Market News
- October 2024: Digikala, Iran's largest online store, recently opened its first brick-and-mortar location in Tehran, aiming to enhance customer experiences. This store features interactive zones for mobile devices, sound products, and gaming. As the first Iranian e-commerce company to embrace a physical presence, Digikala seeks to bridge online and offline shopping.
- August 2024: MCI has taken a significant step in Iran's digital landscape by acquiring a 40% stake in Digikala, a move that values the e-commerce giant at a notable USD 500 million. This investment stands as the most substantial in Iran's burgeoning digital economy. Notably, the founders of Digikala have managed to retain a 22% stake in the company, alongside securing two pivotal board seats. After a decade-long journey, Sarava Pars has chosen to exit its stake. The overarching goal of this collaboration is to bolster and innovate within Iran's digital economy ecosystem.
Iran Digital Gift Card E Gift Card Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of Study
2. RESEARCH METHODOLOGY
3. EXCEUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 As Internet and Smartphone Usage Surges, Access to Digital Platforms Widens, Propelling the Adoption of Digital Gift Cards
4.2.2 Digital Gift Cards Gain Popularity as Government Pushes for Cashless Payments
4.3 Market Restraints/ Challenges
4.3.1 Global Payment Platforms Restricted by International Sanctions, Affecting Digital Gift Card Transactions and Currency Stability
4.3.2 Security Concerns and a Lack of Familiarity with Digital Gift Cards
4.4 MARKET OPPORTUNITIES AND FUTURE TRENDS
4.4.1 Increased Government Focus on Cashless Transactions Creates a Strong Opportunity to Integrate Digital Gift Cards into the Digital Payments Ecosystem
4.4.2 Regional Mobile Wallets and Fintech Firms Enhance Accessibility and User-Friendliness of Digital Gift Cards
4.5 Value Chain/ Supply Chain Analysis
4.6 Porters Five Forces Analysis
4.6.1 Threat of new Entrants
4.6.2 Bargaining Power of Buyers/ Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on Consumer Buying Behaviour in Iran
4.8 Insights on Governmental Regulations in Iran
4.9 Insights on Technological Disruption in Iran
4.10 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Open Loop Gift Cards
5.1.2 Closed Loop Gift Cards
5.2 By Application
5.2.1 Retail
5.2.2 Travel & Tourism
5.2.3 Gaming & Entertainment
5.2.4 Food & Beverages
5.3 By End-User
5.3.1 Individuals
5.3.2 Corporates
5.4 By Distribution Channel
5.4.1 Online
5.4.2 Offline
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Zanbil
6.2.2 Digikala
6.2.3 Modiseh
6.2.4 Albasco
6.2.5 Shixon
6.2.6 Takhfifan
6.2.7 Pindo
6.2.8 Asan Pardakht (AP)
6.2.9 Sheypoor
6.2.10 Divar
- *List Not Exhaustive
7. FUTURE OF THE MARKET
8. DISCLAIMER
9. ABOUT US
Iran Digital Gift Card E Gift Card Industry Segmentation
The Iran Digital Gift Card (E-Gift Card) Market is defined as the sector that encompasses the sale, distribution, and redemption of electronic gift cards, which serve as a prepaid form of stored-value money cards.
The Iran Digital Gift Card (E-Gift Card) Market is segmented into product type, application, end-user, and distribution channel. By product type, the market is segmented into open loop gift cards and closed loop gift cards. By application, the market is segmented into retail, travel & tourism, gaming & entertainment, and food & beverages. By end-user, the market is segmented into individuals and corporates. By distribution channel, the market is segmented into online and offline. The report offers market size and forecasts in terms of value in (USD) for all the above segments.
| By Product Type | |
| Open Loop Gift Cards | |
| Closed Loop Gift Cards |
| By Application | |
| Retail | |
| Travel & Tourism | |
| Gaming & Entertainment | |
| Food & Beverages |
| By End-User | |
| Individuals | |
| Corporates |
| By Distribution Channel | |
| Online | |
| Offline |
Iran Digital Gift Card E Gift Card Market Research FAQs
How big is the Iran Digital Gift Card E Gift Card Market?
The Iran Digital Gift Card E Gift Card Market size is expected to reach USD 274.20 million in 2024 and grow at a CAGR of 9.47% to reach USD 431.07 million by 2029.
What is the current Iran Digital Gift Card E Gift Card Market size?
In 2024, the Iran Digital Gift Card E Gift Card Market size is expected to reach USD 274.20 million.
Who are the key players in Iran Digital Gift Card E Gift Card Market?
Zanbil, Digikala, Modiseh, Albasco and Shixon are the major companies operating in the Iran Digital Gift Card E Gift Card Market.
What years does this Iran Digital Gift Card E Gift Card Market cover, and what was the market size in 2023?
In 2023, the Iran Digital Gift Card E Gift Card Market size was estimated at USD 248.23 million. The report covers the Iran Digital Gift Card E Gift Card Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Iran Digital Gift Card E Gift Card Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Iran Digital Gift Card E Gift Card Industry Report
Statistics for the 2024 Iran Digital Gift Card E Gift Card market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Iran Digital Gift Card E Gift Card analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
