Portland, OR, Aug. 16, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global virtual cards market was estimated at $281.22 billion in 2021 and is expected to hit $1.89 trillion by 2031, registering a CAGR of 21.3% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $281.22 Billion |
| Market Size in 2031 | $1.89 Trillion |
| CAGR | 21.3% |
| No. of Pages in Report | 384 |
| Segments Covered | End User, Product Type, Industry Vertical, and Region. |
| Drivers | Lower operating costs compared to physical cards |
| Added security benefits and advanced features | |
| Opportunities | Growing awareness and interest toward virtual card use amongst corporates |
| Restraints | Chances of fraud |
Covid-19 Scenario
- Throughout the pandemic, most banks across the world offered their services online.
- The trend of using virtual cards experienced a steep incline, since customers found it suitable to use…
