Thailand’s Prepaid Card and Digital Wallet Markets Projected to Surge to 2028, Revealing Strong Consumer Adoption and Expanding Market Opportunities
Dublin, May 20, 2024 (GLOBE NEWSWIRE) — The “Thailand Prepaid Card and Digital Wallet Business and Investment Opportunities Databook – Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend – Q1 2024 Update” report has been added to ResearchAndMarkets.com’s offering.
The Thai prepaid card market has demonstrated robust growth over the years, with a noteworthy compound annual growth rate (CAGR) of 9.2% from 2019 to 2023. Projections further indicate an acceleration in this expansion, with an expected CAGR of 15.3% between 2024 and 2028. By 2028, the market size is anticipated to burgeon to approximately US$24.35 billion, up from US$11.71 billion in 2023.
Consumer Attitudes and Retail Spend Dynamics
Evolving consumer behaviors and increased retail spending have been instrumental in driving forward the market for prepaid payment instruments in Thailand. With a detailed analysis covering over 100 key performance indicators (KPIs), it has become evident that both the prepaid card and digital wallet segments are undergoing significant transformation, underscoring the importance of understanding market dynamics and consumer preferences.
Digital Wallet Segmentation Insights
The traction in the digital wallet space extends across varied categories, including retail, travel, entertainment and gaming, and restaurants, with distinct value, volume, and transaction metrics. These insights provide businesses with crucial data to tailor their offerings effectively.
Market Structure and Competitive Landscape
The report delves into the distinctions between open loop and closed loop prepaid cards, alongside virtual prepaid cards, depicting market size and forecasting essential KPIs. Furthermore, a competitive analysis lends perspective on market share trends and positioning of key players within the Thai prepaid card market.
Consumer Behavior Trends
A granular dissection of consumer behavior offers a window into prepaid card usage across differing demographics, including age, income level, and gender. Retail spend categories have been meticulously assessed to spotlight consumer spending patterns and the shifting dynamics associated with prepaid card utilization.
Segment Forecasts and Future Dynamics
The exploration extends across various market segments, from general-purpose prepaid cards to sector-specific offerings like entertainment, travel forex, and business expense cards. Projections and analyses of each segment’s volume, value, and average transaction value anticipate the future growth dynamics within the Thai prepaid market. By harnessing a comprehensive suite of data points and strategic insights, this report illuminates the trajectory of Thailand’s prepaid card and digital wallet ecosystems.
For more information about this report visit https://www.researchandmarkets.com/r/cmd006
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