The digital business card market is projected to reach $242.3 million by 2027, exhibiting a compound annual growth rate (CAGR) of 11.2%. Various factors are driving the rapid adoption of digital business cards, and many providers have entered the market. Moreover, the future trends indicate a significant growth in the usage of digital business cards in the upcoming years.
Here’s an in-depth analysis of the digital business card market and how it’ll develop in the future.
Market scope of digital business cards
Networking is vital in every industry. It’s one of the most effective ways for career advancement and can also assist in lead generation and business growth. Professionals across industries have used paper business cards for decades to share their contact details and expand their professional networks.
However, factors like rapid digitization, increasing social media use, and accelerating smartphone adoption have tampered with the effectiveness of business cards. COVID-19 has further aggravated in-person networking, making business cards even less effective.
Digital business cards have emerged as an excellent upgrade to paper business cards. A digital business card fits well in the digital networking landscape, allowing individuals to share their contact details digitally and quickly.
Key market drivers
Various factors are driving the adoption of digital business cards. Some of the most prominent drivers are:
Need for fast-paced networking
People nowadays are in a rush and short of time. Therefore, fast-paced networking is the need of the hour, and digital business cards make it possible. An individual can share a digital business card by sending its URL to a potential connection or showing them a QR code. Within seconds, the other person can view the digital business card on their phone and save the contact information.
Limitations of standard business cards
Business cards have been the gold networking standard for decades, but they face limitations in this digital era. In a time when people want to save contacts on their phones and connect on email, messaging apps, and social media, business cards are not as effective as they once were.
A digital business card resolves this hurdle. When an individual shares their digital business card with a connection, the connection can obtain all the details needed to connect with the person online. This includes email, social media, WhatsApp, and all the other online platforms.
Shift towards a mobile-first world
Mobile usage is on the rise, and there are no signs of slowing down. 7.10 billion people — 90% of the global population — own a smartphone today, which is expected to reach 7.49 billion by 2027.
Since digital business cards enable seamless networking on mobile, their usage has bolstered in this mobile-first world.
Rise in digital networking
The rapid adoption of digital networking has also contributed to the popularity of digital business cards. Most networking now happens online on digital channels like email, messaging apps, and social media.
Digital business cards allow professionals to build connections online, resulting in their increasing popularity.
The coronavirus pandemic has contributed significantly to the adoption of digital business cards. In fact, 87% of business event professionals said they’d canceled events due to COVID-19.
Virtual events have now replaced in-person events; thus, digital networking has replaced in-person networking. As a result, the use of digital business cards has skyrocketed after the pandemic.
Top players in the digital business card sector
A lot of digital business card providers are in the market, including:
QRCodeChimp is the current market leader in the digital business card industry. It’s an all-in-one platform for creating and managing digital business cards. The platform offers multiple templates to help you make a digital business card that aligns with your industry and profession.
There are various fields to share your information in detail. You can include all your professional information, contact details, social media links, images, videos, and buttons.
Besides, the solution offers top-notch customization features. You can design a digital business card using colors, font styles, card styles, and other design options.
QRCodeChimp also lets you create a QR code for your digital business card. So, you can create a digital business card and print its QR code on your business card for effortless contact sharing.
You can also check out other players in the digital business card space. For instance, if you want to create a digital business card using a mobile app, HiHello can be a decent pick. However, be ready to compromise on some design and customization options.
Similarly, Mobilocard, L-Card, and Blinq are beginner-friendly digital business card solutions best suited for individuals. They don’t offer many features, but they’re good for beginners.
The digital business card market could undergo noticeable changes in the upcoming years. Here are some potential future trends in the digital business card sector.
Digital business cards to be the norm
Many organizations and individual professionals are using digital business cards worldwide. However, some organizations are yet to go digital with their networking. In the coming years, this trend is likely to shift. More professionals across industries will use digital business cards to uplift their networking efforts and build meaningful connections.
Advanced digital business card capabilities
Digital business cards have been advancing rapidly. Providers are introducing new features, allowing people to truly elevate their networking. Users can add links, buttons, images, videos, and other information to their digital business cards. As the market grows, digital business cards will get new, more advanced features.
Diversified use cases
The primary application of a digital business card is to share contact details with potential connections. However, more use cases are arising. For instance, HR teams use digital business cards as employee ID cards to better manage their information. As the adoption of digital business cards increases, other applications and use cases of digital business cards will emerge.
Summing it up
The digital business card market is exploding, and it will continue to grow at a rapid pace in the upcoming years. The paradigm shift in networking has made digital business cards a powerful networking tool for individuals and professionals across industries.
Organizations should hop on the digital business card bandwagon and integrate digital business cards into their networking efforts. As digital business cards continue to become the norm, it’s important for organizations and individual professionals to use them for better networking.
Want to create a digital business card in a few minutes, and that too for free? QRCodeChimp has your back.