Virtual Cards Market Size, Share & Trends

Research Methodology – Virtual Cards Market

At Straits Research, we adopt a rigorous 360° research approach that integrates both primary and secondary research methodologies. This ensures accuracy, reliability, and actionable insights for stakeholders. Our methodology for the Virtual Cards Market comprises the following key stages:

Market Indicator & Macro-Factor Analysis

Our baseline thesis for the Virtual Cards Market is developed by integrating key market indicators and macroeconomic variables. These include:

Factors considered while calculating market size and share

The number of business entities and individuals globally using virtual cards.
The annual spending through virtual cards.
The annual revenue generated by virtual card providers.
The number of active virtual card providers in the market.
The growth rate of consumers shifting from physical cards to virtual cards.
The penetration rate of virtual cards in different markets.

Key Market Indicators

Sales revenue through virtual cards usage.
Growth rate of virtual cards market by volume and value.
Growth rate of new entrants in the virtual cards market.
Market concentration ratio of the virtual cards market.
Comparison of the growth rate of virtual cards market with physical cards market.
Demographic trends related to usage of virtual cards.

Growth Trends

Increase in the usage of virtual cards by e-commerce businesses.
Growth in the number of individuals using virtual cards for online shopping.
Increasing adoption of virtual cards by businesses for their payrolls.
Introduction of innovative features in virtual cards by providers.
Growth in the adoption of virtual cards due to increased digitization and online transactions.
Rapid penetration of virtual cards in developing countries.

Secondary Research

Our secondary research forms the foundation of market understanding and scope definition. We collect and analyze information from multiple reliable sources to map the overall ecosystem of the Virtual Cards Market. Key inputs include:

Company-Level Information

Annual reports, investor presentations, SEC filings
Company press releases and product launch announcements
Public executive interviews and earnings calls
Strategy briefings and M&A updates

Industry and Government Sources

Country-level industry associations and trade bodies
Government dossiers, policy frameworks, and official releases
Whitepapers, working papers, and public R&D initiatives
Relevant Associations for the Virtual Cards Market

Market Intelligence Sources

Broker reports and financial analyst coverage
Paid databases (Hoovers, Factiva, Refinitiv, Reuters, Statista, etc.)
Import/export trade data and tariff databases
Sector-specific journals, magazines, and news portals

Macro & Consumer Insights

Global macroeconomic indicators and their cascading effect on the industry
Demand–supply outlook and value chain analysis
Consumer behaviour, adoption rates, and commercialization trends

Primary Research

To validate and enrich our secondary findings, we conduct extensive primary research with industry stakeholders across the value chain. This ensures we capture both qualitative insights and quantitative validation. Our primary research includes:

Expert Insights & KOL Engagements

Key Opinion Leader (KOL) Engagements
Structured interviews with executives, product managers, and domain experts
Paid and barter-based interviews across manufacturers, distributors, and end-users

Focused Discussions & Panels

Discussions with stakeholders to validate demand-supply gaps
Group discussions on emerging technologies, regulatory shifts, and adoption barriers

Data Validation & Business POV

Cross-verification of market sizing and forecasts with industry insiders
Capturing business perspectives on growth opportunities and restraints

Data Triangulation & Forecasting

The final step of our research involves data triangulation ensuring accuracy through cross-verification of:

Demand-side analysis (consumption patterns, adoption trends, customer spending)
Supply-side analysis (production, capacity, distribution, and market availability)
Macroeconomic & microeconomic impact factors

Forecasting is carried out using proprietary models that combine: