Digital Business Card Market Expected to Reach $505.2 Million by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Digital Business Card Market," The digital business card market was valued at $159.36 million in 2022, and is estimated to reach $505.2 million by 2032, growing at a CAGR of 12.6% from 2023 to 2032.

Digital business card represents the evolution of traditional business cards into digital realm, providing professionals with modern and efficient ways to exchange contact information and promote their businesses in a digital and interconnected world. In addition, digital business cards are created and shared electronically, allowing professionals to exchange contact information quickly and conveniently. These digital cards can be stored on smartphones, tablets, or other digital devices and can be easily shared via email, text messages, QR codes, or through various mobile apps and platforms.

Furthermore, major market players have undertaken various strategies to increase the competition and offer enhanced services to their customers. For instance, In July 2021, HiHello Inc., the leading digital business card platform for individuals and businesses,  announced a $7.5 million Series A round of funding led by Foundry Group, with participation from Lux Capital and existing investor August Capital. This new funding enabled HiHello to continue growing its team and expanding its business platform to support companies of all sizes. Similarly, in November 2021, Popl launched their new digital business card platform which is available for both Apple and Android users. This new Popl App comes with an incredible suite of new features, offering another dimension of customization, optimization, and functionality for users. Therefore, such digital business card market trends boosts the growth of the digital business card market.

By platform, the Android platform emerged as the dominant segment in the digital business cards market in 2022, capturing the highest market share. This can be attributed to the widespread adoption of Android devices across various demographics and regions. Android's open-source nature and affordability have made it a popular choice among consumers, leading to a larger user base for digital business card apps on the platform. In addition, Android offers a wide range of customization options, allowing users to personalize their digital business cards according to their preferences and branding needs.

However, the iOS segment is expected to be the fastest-growing segment in the digital business card market forecast period attributing to the fact that iOS devices, such as iPhones and iPads, enjoy a strong user base, particularly among professionals and business executives who prioritize sleek design and seamless user experience. Furthermore, iOS users often demonstrate a higher propensity to spend on apps and digital services, making it an attractive market for developers and providers of digital business card solutions. The ecosystem of iOS apps also tends to emphasize quality and aesthetics, aligning well with the needs and expectations of users in the professional realm.

Region wise, North America attained highest growth in 2022 owing to presence of strong technology foundation and extensive usage of smartphone. Digital business cards offer a convenient way to exchange contact information at conferences, networking events, and casual encounters. Moreover, the major cities like San Francisco, New York City, and Toronto have a higher concentration of digital business card users. However, the Asia-Pacific region is considered to be the fastest growing region during the forecast period owing to increase in penetration of smartphones and the rise in need for contactless corporate communication in the region. Moreover, countries such as China, Japan, and India are likely to be important contributors to the growth of the Asia-Pacific digital business card industry.  

The COVID-19 pandemic had a mixed impact on the digital business card market size. On one hand, the closures of physical retail stores and restrictions on in-person gatherings led to a decrease in digital business card sales for certain categories, such as travel and hospitality. On the other hand, the pandemic also drove an increase in e-commerce and online shopping, which in turn boosted sales of digital business card market growth. In addition, the pandemic drove a shift towards contactless payments and reduced the use of cash, which further accelerated the adoption of digital business cards as a cashless payment option. As a result, many businesses shifted their focus towards digital digital business cards and other contactless payment options to meet changing consumer preferences. Overall, while the pandemic had a negative impact on some segments of the digital business card market, it also accelerated the adoption of digital digital business cards and other cashless payment options.

Key findings of the study

• By platform, the android segment accounted for the highest digital business card market analysis in 2022.
• By user type, the business user segment accounted for the highest digital business card market share in 2022
• By region, North America generated the highest revenue in 2022.

The report analyzes the profiles of key players operating in the digital business card market such as Blinq Technologies Pty Ltd., Haystack, HiHello, Inc., Itzme, Mobilo, Popl, Spreadly GmbH, Tap, Uniqode Phygital, Inc.(Beaconstac), and Virtual Business Card. These players have adopted various strategies to increase their market penetration and strengthen their position in the digital business card market.