Report ID: SQMIG40G2004
Credit Card Market Size, Share, Growth Analysis, By Card Type(General Purpose Credit Cards, Specialty, Other Credit Cards), By Application(Food & Groceries, Health & Pharmacy, Restaurants & Bars, Consumer Electronics), By Provider(Visa, Master cards, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG40G2004 |
Region:
Global |
Published Date: July, 2024
Pages:
157
|
Tables:
94 |
Figures:
76
Credit Card Market Regional Insights
North America region dominated the credit card in 2021 and is expected to maintain its dominance throughout the forecast period. The market is growing as a result of the number of factors, including the region's economy's rapid credit card adoption. Also, Americans rely heavily on credit cards since in 2020, nearly 47% of American adults, or around 120 million people, will have credit card debt, which will spur industry expansion.
However, Europe is anticipated to experience significant growth over the forecast period as a result of rising loyalty programs, credit card reward points offered by companies to increase their market share, and a growing trend among young people in developed countries like the UK, Germany, and other to use credit cards. Also, because individuals in this region prefer to pay with cash, many credit card companies are offering various promotions to boost their market share and income potential, which is generating profitable chances for the local market.
Credit Card Market Report Snapshots
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