NFC Technology Aids Contactless Business Cards
Digitized business card is a growing trend in the marketing and advertising world. Digital or virtual business cards help promote a paperless environment, with great availability and accessibility on the go. These cards can be shared through any communication app like WhatsApp with a single click, allowing the convenience of having them at fingertips. Thus, digital business cards help improve customer experience and brand image.
Resultantly, many organizations have adopted this technology to enable their employees to have their business cards on the go. Most enterprises rely on digital solutions for convenience and growth and use digital tools to improve office policies and customer experiences. These digital cards are rapidly replacing traditional business cards with their immense benefits.
The digital business card trend expanded rapidly during the COVID-19 pandemic when contactless dealing became mandatory. QR code technology turned out to be important and widely accepted across the globe.
Citing the growing popularity of virtual technology and the tremendous growth potential that the market demonstrates, Market Research Future (MRFR) expects the global digital business card market to reach USD 242.3 MN by 2027, growing at a ~11.2% CAGR throughout the review period (2021–2027).
Digital Business Cards offer a Host of Benefits
When it comes to benefits, digital cards have a hoard of them compared to traditional paper business cards. The first and foremost advantage is that they are paperless, thus, contributing to the save earth or environment initiatives. Security is another notable feature of these cards that allows one to choose who can access and redistribute it.
As digital business card information is usually transferred via QR code, organizations have complete control over their employees’ data with publicly registered numbers. Next comes the cost-effectiveness; business cards usually need regular updates, and printing and logistic expenses become unavoidable in the case of physical business cards.
However, digitized, these cards allow unlimited updates and eliminate these expenses. Businesses can simply subscribe to the best suitable plan from various easy plans that digital business card technology companies offer. Other distinct features of digital business cards include options for customization and website integration.
The customization option allows a wide scope of creating innovative business cards that can make a lasting impression. The website integration allows the option to include a hyperlink in the QR code that leads to the company’s website, allowing recipients to access the business’s information. Additionally, an option to add social media profiles to digital business cards is a great opportunity.
Unlike a handout or physical business card, a digital business card not only gives the contact details of the owner but also works as a marketing tool as much as a newsletter or advert does. Digital business card platforms try to offer distinctive smart features and services, including QR codes, document scanners, email signatures, connectivity features, and many more. Many business-card-making platforms offer buttons and icons as an alternative.
The technology enables users to add prominent company collaborators to the business card so as to allow viewers that all professionals or companies are backing the business. Also, if the digital business card service allows accepting digital files, you can share any positive feedback from customers.
The option to add a click button prompts viewers to click on the link that takes them to important projects and ventures carried out by the company. Same way, viewers can be directed to active social media platforms. The point is to make the card crystal clear to navigate and understand, as failing to do this can push viewers away and leave them with a bad impression.
Market Segments
The digital business card market report is segmented into types, platforms, applications, pricing, and regions. The type segment is sub-segmented into individual, business, and enterprise users. The enterprise user segment accounts for the largest share and is expected to retain its dominance throughout the assessment period. The platform segment is sub-segmented into iOS, Android, and Windows. Of these, Android is the major segment within the market and is expected to retain its dominance throughout the assessment period.
The pricing segment is sub-segmented into monthly and yearly. Among these, the yearly pricing segment accounts for the largest market share owing to the heavy discount on annual subscriptions available with this plan. Most businesses and enterprises opt for the yearly subscription. On the other hand, the individual segment is growing rapidly.
The application segment is sub-segmented into business owners, sales entrepreneurs, marketing agencies, events & travels, software & IT, education & training, finance & realtors, health & beauty, consultants, and others. Of these, business owners, marketing agencies, sales entrepreneurs, and consultants are major contributors to the market growth. The region segment is bifurcated into the Americas, Asia Pacific, Europe, and rest-of-the-world. North America dominates the global digital business card market.
North America – the Largest Digital Business Card Market
A major part of market growth is driven by technical advancements and increasing demand for digital advancements in this region. North Americans are more environmentally conscious, which alongside the importance of sustainability among companies and enterprises, drives the market growth. Besides, the rapid shift towards the digital business card to exchange information more digitally boosts the market demand.
APAC Emerges as the Fastest Growing Market
The Asia Pacific region witnesses increasing adoption of digital business card technology. Factors such as rapid digitalization among businesses and the shift towards online and social media in this region boost the demand for digital business cards. More businesses are shifting towards digital marketing and advertising tools, and the uptake of digital technology in increasing numbers of enterprises substantiates the region’s market share.
Japan, South Korea, China, Australia and India are major markets in the region. Also, key Southeast Asian countries such as Singapore and Malaysia have emerged as profitable markets. Moreover, small and medium-sized organizations offer major opportunities to the APAC digital business card market.
Industry Players’ Strategies to Follow
The digital business card market is becoming highly competitive, witnessing increasing numbers of entrants. In addition to strategies such as mergers & acquisitions, collaborations, expansion, and product/technology launches, digital business card companies seek certification to ensure customers are ready for any security threats. Leading players invest heavily to boost the development of innovative digital business cards.
Digital business card start-ups look for co-investors who can aid them in boosting the funding required for the business expansion. Some market players incorporate new business strategies, such as establishing development centers in several developing countries to encourage business growth. Witnessing the increasing trend of digitalization and virtualization across the industries, digital business card providers strive to expand their footprints on the global platform.
Notable Industry Updates
On May 17, 2022, Blinq, a Melbourne-based digital business card developer, announced that it has raised about US$3.5 million from Blackbird and Square Peg Capital to expand its business further. Blinq plans to use these funds to build out its growth, develop more unique products, add more enterprise features, and onboard more directories to its platform.
Players leading the global digital business card market include HiHello, Inc. (US), Haystack (Australia), Inigo (US), L-Card (US), Switchit (US), Adobe (US), Techno Infonet (India), ME (US), SnapDat (US), CamCard (US), Mobilo (US), COM (Quancore Group – India), Knowee (Spain), Lulu Systems, Inc. (US), and Vistinkard (India), among others.
Source: https://www.marketresearchfuture.com/reports/digital-business-card-market-10696
