Gift card market in 2022 was driven by a wide range of factors that supported growth across retail and corporate segments.
The primary factors included growth of e-commerce, increased adoption of incentives for employees working remotely, digital gifting and government initiatives, hospitality and travel industries to revive growth, according to a report of ResearchAndMarkets.
In value terms, the gift card market in Iran has recorded a CAGR of 6.6% during 2018-22.
According to the report, the gift card industry in the country is expected to grow by 11.0% on an annual basis to reach $788.8 million in 2023.
The gift card industry in Iran will continue to grow over the forecast period and is expected to record a CAGR of 9.5% during 2023-27. Gift card market in the country will increase from $710.4 million in 2022 to reach $1,132.8 million by 2027.