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Gift Card Market to Reach USD 1,897.46 Billion Globally by 2030, Driven by Digital Adoption and Corporate Gifting | Credence Research Inc.
PUNE, India, Nov. 21, 2024 /PRNewswire/ — The global gift card market, valued at USD 818.52 billion in 2022, is projected to reach USD 1,897.46 billion by 2030, growing at a CAGR of 10.46%. Key drivers include the rising adoption of digital gift cards and increased corporate gifting initiatives.
Gift Card Market Size and Forecast
Growing Market Demand for Gift Cards
The global gift card market is poised for substantial growth, driven by the increasing shift toward cashless transactions and rising consumer demand for flexible gifting options. According to a report published by Credence Research titled “Gift Cards Market By Material Merchant Type (Restaurants, Department Stores, Grocery Stores, Supermarkets/Hypermarkets, Discount Stores, Coffee Shops, Entertainments, Salons/Spa, Book Stores, Home Décor Stores, Gas Stations, Visa/Master Card/American Express Gift Cards, Others) By Merchant Type (Universal Accepted Open Loop, Restaurant Closed Loop, Retail Closed Loop, Miscellaneous Closed Loop, E-Gifting) By End User – Growth, Future Prospects and Competitive Analysis, 2022 – 2030” In 2022, the market was valued at approximately USD 818.52 billion and is projected to reach USD 1,897.46 billion by 2030, reflecting a CAGR of 10.46% over the forecast period. The surging popularity of digital gift cards, particularly those integrated with e-commerce platforms, plays a pivotal role in this expansion. Additionally, businesses are leveraging gift cards as effective marketing tools to enhance customer loyalty and retention. Seasonal and holiday purchases, coupled with corporate gifting programs for employee rewards, continue to drive significant revenue growth in this sector.
Regional Insights and Future Opportunities
North America dominates the global gift card market, attributed to its advanced digital payment infrastructure and widespread adoption of e-commerce. However, the Asia-Pacific region is expected to witness the fastest growth due to increasing smartphone penetration, digital payment adoption, and expanding middle-class consumer bases in countries like India and China. Innovations such as customizable and reloadable gift cards, along with blockchain-based solutions ensuring security and transparency, are creating lucrative opportunities for market players. Challenges, such as fraud and lack of awareness in emerging markets, remain but are being addressed through technological advancements and regulatory frameworks.
Dive deeper into market insights, growth drivers, and key trends by browsing the comprehensive report. Click here to access the full report- https://www.credenceresearch.com/report/gift-cards-market
Gift Card Market Drivers
The Rise of Digital Payment Solutions Driving the Gift Card Market
The increasing adoption of digital payment systems is a key driver for the gift card market. For instance, a study found that the usage of digital payments increased by nearly 30% in 2022, driven by the convenience and speed of cashless transactions. Consumers are gravitating toward cashless transactions due to their convenience, speed, and security, making digital gift cards an attractive choice. According to a survey, 75% of respondents preferred digital gift cards over physical ones because of their ease of use and instant delivery. Their compatibility with e-commerce platforms and mobile wallets has further boosted their popularity, with digital wallets accounting for 45% of all online transactions in 2023
Gift Cards as a Preferred Tool for Corporate Rewards and Loyalty Programs
Corporates are increasingly leveraging gift cards as part of their employee reward programs and customer loyalty initiatives. For instance, a survey revealed that 79% of employees work harder when they feel recognized, and gift card programs offer a simple, impactful way to make that recognition felt. These cards provide flexibility and personalization, making them a cost-effective way to incentivize employees and retain customers. Additionally, companies have reported a 25% increase in employee satisfaction and engagement when using gift cards as rewards. Their ease of distribution and the ability to tailor them to individual preferences make gift cards an effective tool for driving market growth.
The Role of E-Commerce in Boosting Gift Card Demand
The rapid expansion of e-commerce has significantly contributed to the growth of the gift card market. For instance, during the pandemic, digital gift card sales surged by 80% year-over-year as consumers increasingly turned to online shopping to avoid crowds. Digital gift cards, in particular, have become integral to online shopping experiences, allowing consumers to make purchases or send gifts conveniently. A survey found that 92% of respondents preferred digital gift cards for their flexibility and ease of use, further enhancing their demand. Additionally, digital gift cards have been shown to drive repeat business and foster customer loyalty through personalized experiences.
Seasonal and Holiday Purchases Influencing the Gift Card Market
Seasonal and holiday shopping trends are major drivers of the gift card market. Consumers prefer gift cards for their flexibility and ease of use during festive seasons, boosting their demand. Retailers also capitalize on this trend through promotional campaigns, further fueling market growth.
Technological Advancements Transforming the Gift Card Industry
Innovations such as blockchain-based solutions and customizable, reloadable gift cards are revolutionizing the gift card market. These advancements enhance security, transparency, and personalization, making gift cards more appealing to both consumers and businesses.
Gift Card Market Restraints
Fraud Challenges in the Gift Card Market
Fraud remains a significant concern for the gift card market, with cybercriminals targeting both physical and digital gift cards. Techniques such as phishing, code hacking, and unauthorized use compromise consumer trust and lead to financial losses for businesses. The lack of advanced security measures in some gift card systems exacerbates this issue, hindering market growth.
Limited Awareness in Emerging Markets Restraining Market Expansion
In many developing regions, limited awareness about gift card benefits and functionality restricts market penetration. Consumers in these areas often prefer traditional gifting methods, and the absence of widespread digital infrastructure further impedes adoption. This creates a significant barrier to growth for gift card providers in untapped markets.
Lack of Standardization Hindering the Gift Card Industry
The absence of standardized regulations for gift card issuance and usage across regions creates challenges for market players. Differences in redemption policies, expiration terms, and fees confuse consumers and diminish their willingness to adopt gift cards. These inconsistencies also deter cross-border transactions, restricting the global scalability of gift card programs.
Impact of High Transaction Fees on Gift Card Usage
Transaction fees associated with gift cards, particularly reloadable or prepaid variants, can discourage consumers and businesses from using them. These fees, often perceived as hidden costs, reduce the overall value of gift cards, making them less appealing compared to other gifting or payment options.
Redemption Restrictions Limiting Market Growth
Redemption restrictions, such as limited acceptance at specific retailers or within certain timeframes, frustrate consumers and undermine their trust in gift cards. Such constraints reduce the flexibility that makes gift cards attractive, ultimately curbing their widespread adoption and market growth.
Gift Market Segmentation Analysis
By Material Merchant Type
The global gift card market is segmented by material merchant type into various categories based on the type of retailer or service provider. Restaurants and coffee shops dominate this segment as popular choices for both personal and corporate gifting due to their wide appeal and usability. Department stores, supermarkets/hypermarkets, and grocery stores cater to everyday consumer needs, making them a practical option for recipients. Specialized categories such as entertainments, salons/spa, book stores, and home décor stores appeal to niche markets. Gas stations gift cards provide convenience for daily commuting, while cards like Visa, MasterCard, and American Express gift cards offer flexibility for various purchases, further enhancing their demand.
By Merchant Type
This segment categorizes gift cards into different types based on their usability. Universal Accepted Open Loop gift cards, such as those issued by financial institutions (Visa, MasterCard), are highly versatile and widely used for a variety of transactions. Closed Loop Cards, which include restaurant closed loop, retail closed loop, and miscellaneous closed loop, are restricted to specific merchants, offering targeted usability for dining, shopping, or services. The rise of E-Gifting, driven by digital adoption, provides a convenient and instant option, appealing particularly to younger demographics and tech-savvy users.
By End User
Based on end-user segmentation, the market caters to businesses and individuals. Businesses are significant contributors, using gift cards for employee rewards, client appreciation, and promotional campaigns. On the other hand, individuals use gift cards primarily for gifting purposes on occasions such as birthdays, anniversaries, or holidays, making them a versatile and practical choice.
By Price Range
Gift cards are segmented by price range into high (above $400), medium ($200–$400), and low (below $200) categories. High-priced gift cards are predominantly used in corporate settings for high-value gifting or rewards. Medium-range gift cards are common for personal gifting and special occasions, while low-priced gift cards are popular for everyday gifting, promotions, and smaller incentives. This price range segmentation ensures accessibility across diverse consumer and corporate needs.
Segmentation of Global Gift Cards Market-
Global Gift Cards Market – By Material Merchant Type
- Restaurants
- Department Stores
- Grocery Stores
- Supermarkets/Hypermarkets
- Discount Stores
- Coffee Shops
- Entertainments
- Salons/Spa
- Book Stores
- Home Décor Stores
- Gas Stations
- Visa/Master Card/American Express Gift Cards
- Others
Global Gift Cards Market – By Merchant Type
- Universal Accepted Open Loop
- Restaurant Closed Loop
- Retail Closed Loop
- Miscellaneous Closed Loop
- E-Gifting
Global Gift Cards Market – By End User
- Business
- Individuals
Global Gift Cards Market – By Price Range
- High (Above 400 US$)
- Medium (200-400 US$)
- Low (0-200 US$)
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Regional Analysis
North America
North America dominates the global gift card market, driven by advanced digital payment infrastructures, high consumer spending power, and widespread adoption of e-commerce. The United States is the leading contributor in this region, with businesses heavily utilizing gift cards for employee rewards and customer loyalty programs. The rise of digital gift cards, particularly those integrated with popular e-commerce platforms and digital wallets, has further fueled market growth. Seasonal and holiday sales contribute significantly to revenue generation, making North America a mature and robust market for gift cards.
Europe
Europe represents a significant share of the global gift card market, with countries such as the United Kingdom, Germany, and France leading the region. The increasing adoption of e-commerce and digital payment solutions has bolstered the demand for digital gift cards. The corporate sector also plays a pivotal role, with businesses leveraging gift cards to enhance employee engagement and customer loyalty. Additionally, cultural traditions of gifting during holidays and special occasions further drive market growth in this region.
Asia-Pacific
The Asia-Pacific region is experiencing the fastest growth in the gift card market, fueled by increasing smartphone penetration, rising disposable incomes, and rapid digitalization in countries like China, India, and Japan. The growing popularity of e-commerce platforms and mobile payment systems has significantly boosted the adoption of digital gift cards. Furthermore, the expanding middle-class population and their preference for flexible gifting options are driving market growth. Localized promotional campaigns by retailers and global brands also contribute to the rising popularity of gift cards in this region.
Latin America
Latin America’s gift card market is growing steadily, driven by urbanization and increasing adoption of digital payment systems. Countries like Brazil and Mexico are leading the market, with retailers and e-commerce platforms promoting the use of gift cards for various occasions. The region’s younger population is particularly inclined toward digital gift cards due to their convenience and integration with online shopping platforms.
Middle East & Africa
The Middle East and Africa are emerging markets for gift cards, supported by increasing urbanization and the growing use of smartphones and digital payment systems. Countries such as the UAE and South Africa are key contributors, with rising e-commerce penetration and expanding retail sectors. Gift cards are also gaining traction as a tool for corporate rewards and promotions, although limited digital infrastructure in certain areas poses a challenge to market growth.
Top Companies –
- Apple, Inc.
- The Up Group
- Best Buy Company, Inc.
- Amazon.com, Inc.
- Starbucks Corporation
- Walmart Stores
- National Gift Card Corporation
- Edge Loyalty Systems Pty. Ltd.
- Target Corporation
- InComm
- QwickSilver Solutions
- Gyft
- Blackhawk Network holdings, Inc.
- Edenred Group.
Competitive Landscape
The global gift card market is highly competitive, with major players ranging from technology giants to specialized providers of loyalty and reward solutions. Companies are focusing on innovative product offerings, strategic collaborations, and technological advancements to maintain their market position and address growing consumer demands.
Key Players and Their Strategies
Prominent companies in the market include Apple, Inc., Amazon.com, Inc., Starbucks Corporation, Walmart Stores, Target Corporation, and Best Buy Company, Inc. These companies dominate due to their expansive retail networks, strong digital ecosystems, and widespread consumer trust. For instance, Apple and Amazon lead in digital gift cards by integrating them seamlessly with their ecosystems, enhancing user experience and driving sales. Similarly, Starbucks leverages its gift card programs to boost customer loyalty through innovative features such as reloadable cards linked to its rewards program.
Specialized Providers and Emerging Players
Specialized gift card companies, such as National Gift Card Corporation, Blackhawk Network Holdings, Inc., Edenred Group, Edge Loyalty Systems Pty. Ltd., and InComm, play a crucial role in the market by offering tailored solutions for corporate gifting, loyalty programs, and digital payment services. Companies like QwickSilver Solutions and Gyft are emerging as key players in the digital gift card space, focusing on e-gifting and mobile integration to cater to tech-savvy consumers.
Focus on Digital Transformation
The shift toward digital gift cards has intensified competition, with players developing advanced platforms for seamless gifting and redemption. InComm and Blackhawk Network are at the forefront of this trend, offering platforms that connect retailers with consumers and enable cross-platform gift card usage. Edge Loyalty Systems Pty. Ltd. focuses on corporate rewards and consumer engagement programs, enhancing its value proposition in the B2B segment.
Collaborations and Strategic Partnerships
Collaborations and partnerships remain key strategies for market expansion. For instance, companies like National Gift Card Corporation and Edenred Group partner with retailers and financial service providers to offer diversified and universally accepted gift card solutions. These partnerships enable businesses to tap into new customer segments and drive market growth.
Opportunities and Challenges
While the market presents significant opportunities through digital innovation and emerging markets, challenges such as fraud, regulatory inconsistencies, and lack of consumer awareness in certain regions persist. Companies are addressing these issues by adopting blockchain technology, enhancing security measures, and conducting awareness campaigns. With increasing consumer preference for convenience and personalization, the market is poised for robust growth driven by innovation and strategic initiatives.
Latest Developments:
- February 2024: Roblox, a global platform for immersive communication and engagement, partnered with Blackhawk Network (BHN) to offer digital gift cards in Austrian Euro (EUR), Belgian Euro (EUR), Swiss Franc (CHF), and Brazilian Real (BRL) on its gift card website, Roblox.com/giftcards. This initiative enables customers in these nations to purchase Roblox digital gift cards in their local currencies.
- December 2023: Pine Labs’ Qwikcilver, a leading provider of gift card and stored value solutions in Southeast Asia and India, collaborated with Foodpanda, Asia’s largest food and grocery delivery network (excluding China), to launch Foodpanda Gift Cards. These cards provide customers with a convenient way to redeem and complete purchases.
- September 2023: Razorpay, a domestic payments and banking platform, introduced the D2C GRO Suite at the D2C Sparkx 2023 event. This suite aims to address e-commerce lifecycle challenges, including enhancing purchase experiences, preventing fraud, and enabling seamless checkouts. Razorpay claims the tools will help over 2.5 lakh e-commerce and direct-to-consumer brands increase sales by 50%.
- July 2022: American Express, in partnership with the National Trust for Historic Preservation, announced grant funding of USD 1 million for 25 historic independent restaurants across the U.S. through the “Backing Historic Small Restaurants” program.
- June 2022: Blackhawk Network partnered with Restaurant.com to expand the distribution of the dining deal site’s gift card program, including new eGift options available through GiftCardMall.com and other digital platforms via Blackhawk’s distribution network.
- June 2022: Blackhawk Network collaborated with LibertyX to make cryptocurrency more accessible, allowing consumers to purchase Bitcoin through LibertyX accounts at select U.S. merchants, including Fresco y Más, Harveys Supermarkets, and Winn-Dixie.
- April 2022: Blackhawk Network teamed up with Bitski, an NFT and blockchain wallet leader, to launch the world’s first NFT promotion gift card. The offering combines real-world and Web3 value, bridging traditional and digital economies.
- February 2022: Blackhawk Network expanded its partnership with Kroger to provide Mastercard® and Visa® bulk prepaid cards via its Velocity B2B SaaS-based gift card services. This supports Kroger’s growth in the B2B gift card sector by offering businesses a robust tool for employee rewards and charitable efforts.
- April 2022: eCard Systems extended its partnership with Toast, enhancing restaurant businesses through customer insights, loyalty programs, and multi-channel marketing solutions designed to boost engagement and growth.
- August 2021: eCard Systems partnered with Paytronix to equip merchants with tools and data to optimize gift card programs. The collaboration aims to foster stronger customer connections and facilitate business expansion.
- April 2021: Thoughtworks launched a gift card initiative to help retailers leverage technology for improved customer engagement. The cards act as entry points into integrated payment and ordering systems, promoting customer loyalty and spending habits.
- July 2020: Apple Inc. introduced a universal gift card for hardware, software, and services, designed to meet diverse consumer needs. Branded as “for everything and everyone,” it provides flexibility across Apple’s product portfolio, reinforcing its position as an innovative market leader.
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- Stay informed about the competitive environment, with rankings of major players, recent product and service launches, partnerships, business expansions, and acquisitions from the past five years.
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Safeguard Global Pay to Feature New Product Capabilities in Partnership with Workday at Marquee EMEA Event
Safeguard Global Pay will serve as a key partner for joint go-to-market activities at Workday Rising EMEA
AMSTERDAM, Nov. 21, 2024 /PRNewswire/ — Safeguard Global Pay, a leading global managed payroll provider, today announced it will host an exclusive demo of Workday’s Global Payroll Connect at next month’s Workday Rising EMEA event. The innovations were born from Race to Rising, a competition hosted by Workday, Inc. (NASDAQ: WDAY), which Safeguard won earlier this year.
“As Workday’s original global payroll partner, we’re passionate about global pay and we’ve been doing it longer than anyone,” said Tristan Woods, Chief Product Officer at Safeguard Global Pay. “It is our mission to serve as a payroll provider that manages, accelerates and scales payroll for organizations globally, through a community of local payroll experts, partners, and a single, agile platform. And that’s why we’re positioned to offer the very best solutions in the global payroll market.”
In May 2024, Workday announced its Race to Rising competition, aimed at unifying the experience between Workday and global payroll providers. Safeguard Global Pay competed alongside six other invited brands and was given eight weeks to build and implement next-gen integrations for Workday’s Global Payroll Connect – a unified global payroll solution that can seamlessly connect with payroll providers to deliver an end-to-end global payroll experience. Only two of the seven global payroll providers made it to the finish line, with Safeguard Global Pay emerging as one of the winners
Safeguard Global Pay is bringing these innovations to life at Workday Rising EMEA. Attendees are invited to an exclusive demo of Workday’s Global Payroll Connect, presented by Woods, on Tuesday, December 10th, at 17:30 at Safeguard Global Pay’s booth #206.
Workday’s API-driven integrations were all designed to provide greater connectivity between Workday and payroll systems, increasing efficiency and eliminating reliance on manual spreadsheets. Together, the integrations revolutionize payroll processes by delivering more automation, easier access to accurate data, and less maintenance.
This announcement comes on the heels of Safeguard Global Pay being named a Platinum Innovation Partner with Workday earlier this year. As the first global payroll partner to attain Platinum Innovation Partner, Safeguard Global Pay seamlessly connects with Workday and standardizes payroll data and processes, streamlining and unifying everything into one platform and one process for customers in over 170 countries.
To learn more, visit safeguardglobal.com/pay.
About Safeguard Global Pay
Safeguard Global Pay manages, accelerates and scales payroll for organizations around the world. We deliver a unified client experience through a global community of local payroll experts, partners, and an agile platform, for accurate, compliant, complete and timely pay with every cycle. As a leading global managed payroll provider, we offer certified, bi-directional integrations with Workday for a consistent and optimized experience. Seamlessly integrate HR and payroll data around the world, gain comprehensive insights to labor costs, and ensure maximum engagement with Workday.
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TAILG Represents the Industry at COP29, Advancing South-South Cooperation with Low-Carbon Solutions
BAKU, Azerbaijan, Nov. 21, 2024 /PRNewswire/ — Recently, the United Nations Climate Change Conference (COP29) was held in Baku, Azerbaijan. As a representative of the electric mobility industry, which provides clean energy solutions for climate change, TAILG attended the conference and shared its green and low-carbon solutions, promoting South-South cooperation with practical actions.
The COP29 focused on climate finance, enhancing carbon reduction targets, and improving global carbon market mechanisms. New energy transportation solutions from China are highly valued and urgently sought after by developing countries.
TAILG President Yao Li attended the High-level Forum on South-South Cooperation on Climate Change, sharing insights on the electric vehicle sector’s role in advancing low-carbon mobility and highlighting the potential of two-wheeled electric vehicles in new energy and photovoltaics.
“As a global pioneer in long-range electric two-wheelers, TAILG is willing to actively participate in the Africa Solar Belt program of South-South Cooperation and aspires to be a promoter, practitioner, explorer, and leader of global low-carbon mobility.” Yao Li, President of TAILG Group, invited to the High-Level Forum on South-South Cooperation, emphasized TAILG’s continued support for developing countries in combating climate change through product donations, technical aid, and knowledge sharing.
TAILG, with 21-year deep engagement in e-mobility, leverages advanced R&D centers and a CNAS-accredited laboratory to drive innovation in energy-saving, new energy batteries, and charging and swapping technologies. To date, it has over 2,000 patents, which have been widely promoted in low- and middle-income countries around the world.
Since 2017, as a e-mobility partner of the United Nations, TAILG has launched e-mobility projects in Kenya, the Philippines, Thailand, Vietnam and other countries.
With support from China’s Ministry of Ecology and Environment and the Belt and Road Center, TAILG has electrified the Philippine postal service and advanced low-carbon transportation in Thailand, driving green transformations in industries like takeout and passenger transport. In Africa, the TK90 electric motorcycle, co-developed with Ghana’s KOFA, reduces operating costs by 30% through its exchangeable lithium battery pack.
TAILG President Yao Li stated that the group’s Global E-Mobility Programme Research Institute is advancing photovoltaic and electric vehicle integration to provide cleaner, more sustainable energy for green mobility and home storage in local areas.
The e-mobility industry represented by TAILG is actively expanding globally, embracing climate action and shaping a promising future for global electric transportation.
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Hyundai Motor Redefines EV Mobility with IONIQ 9 Electric SUV: Big on Space – Bigger on Innovation
- Hyundai Motor tops its acclaimed IONIQ lineup with new three-row, all-electric SUV, blending superior space, unique design and advanced EV technology
- IONIQ 9 unveiled at Goldstein House in LA, an icon of mid-century modern architecture, reflecting Hyundai Motor’s commitment to innovation and EV leadership through its IONIQ vehicle lineup
- Impressive interior space with fully flat floor, Relaxation Seats, Swiveling Seats[1], and a slidable Universal Island 2.0 console to enhance passenger experience
- ‘Aerosthetic’ styling and futuristic design elements set IONIQ 9 apart, including streamlined roof and flush surfaces
- 110.3 kWh battery delivers WLTP-projected driving range of 620 km[2]; advanced E-GMP architecture delivers 10 to 80 percent recharge in 24 minutes[3]
- Practical, future-oriented technologies, Features on Demand and AI voice[4] recognition offer advanced functionality
- IONIQ 9 will be shown at the LA Auto Show and on sale in Korea and the United States in the first half of 2025; rollout planned for Europe and other markets later
LOS ANGELES and SEOUL, South Korea, Nov. 21, 2024 /PRNewswire/ — Hyundai Motor Company today unveiled IONIQ 9, a three-row, all-electric SUV with expansive interior space that fuses cutting-edge design and innovative electric vehicle (EV) technology.
IONIQ 9 was unveiled at the iconic Goldstein House in LA, a celebrated example of mid-century modern architecture.
The World Premiere event opened with a keynote speech by José Muñoz, the President and Global Chief Operating Officer of Hyundai Motor Company.
IONIQ 9 is an appealing new choice for customers seeking a three-row EV that can accommodate up to seven occupants. It provides impressive space and features that cater to individual needs while offering a sense of togetherness — it is truly ‘Built to Belong’.
“IONIQ 9 embodies Hyundai Motor’s unwavering commitment and confidence in electrification,” said Jaehoon Chang, President and CEO of Hyundai Motor Company. “Based on Hyundai Motor Group’s acclaimed Electric-Global Modular Platform (E-GMP), IONIQ 9 offers outstanding interior space, providing customers with unique value while solidifying our leadership in the global EV market.”
Serene, spacious interior provides an unparalleled EV experience
IONIQ 9 offers superior roominess with ample second- and third-row space, providing an exceptional experience for occupants. Its interior design is characterized by elliptical elements and calming tones to create a lounge-like atmosphere.
IONIQ 9’s flat floor accommodates seating arrangements for six or seven occupants. The Relaxation Seats in the first and second rows can fully recline and offer a leg rest for optimal comfort, allowing up to four people to rest during vehicle charging depending on the configuration. IONIQ 9 also boasts 1,899 mm of headroom and 2,050 mm of legroom, when second and third rows are combined.
IONIQ 9’s Relaxation Seats[5] feature Hyundai Motor’s first Dynamic Body Care system[6], including a Dynamic Touch Massage function.
IONIQ 9 also introduces second-row Swiveling Seats[7], allowing the second- and third-row occupants to face each other when the vehicle is stationary.
The SUV’s slidable Universal Island 2.0 console provides an impressive level of storage and delivers a walk-through front-row seating arrangement, enhancing accessibility and convenience.
Universal Island 2.0 can be moved by up to 190 mm, allowing passengers in the second row to access it easily.
With the third-row seats folded flat, the trunk can accommodate up to 1,323 liters of luggage, while with all three rows in place IONIQ 9 offers up to 620 liters of luggage room.[8] Additionally, the front trunk offers a maximum volume of 88 liters for RWD models and 52 liters for AWD models.
‘Aerosthetic’ design conveys a sleek and sophisticated image
IONIQ 9’s sleek ‘Aerosthetic’ exterior reflects Hyundai Motor’s commitment to blending aerodynamic innovation and sophisticated, futuristic styling.
IONIQ 9’s silhouette is defined by a smooth, curved roofline, creating a streamlined aerodynamic profile and a low drag coefficient of just 0.259 Cd[9] when fitted with digital side mirrors[10].
Energy usage efficiency is also enhanced by smoothing and balancing airflow under the body, and reduced wheel and tire resistance.
With the longest wheelbase of any Hyundai model, at 3,130 mm, IONIQ 9 impresses with its expansive cabin and grand proportions.
Reminiscent of a boat tail, the rear continues the theme of pixel-fused seamless integration while contributing to IONIQ 9’s outstanding aerodynamic performance.
Notably, IONIQ 9 is the first Hyundai model to eliminate the roof antenna by dividing its functions between the windshield cover (for GPS and satellite radio), the instrument panel (for Connected Car Services) and the tailgate glass (for FM/AM and Digital Multimedia Broadcasting), contributing towards its advanced and minimalistic design.
Exterior lighting aligns with Hyundai’s other EV models, featuring IONIQ signature Parametric Pixel lamps with small cube projection headlights and an intelligent front-lighting system (IFS)[11] to support improved vision and driving safety while preventing glare to oncoming vehicles.
IONIQ 9’s confident stance is supported by a range of wheel options, including standard-fit 19-inch items, 20-inch and 21-inch wheel options, and a top-of-the-line 21-inch Calligraphy design, allowing buyers to customize the vehicle further.
The SUV is available in 16 exterior colors, including new hues such as Celadon Gray Matte, Celadon Gray Metallic, Ionosphere Green Pearl, Sunset Brown Pearl and Cosmic Blue Pearl[12].
Inside, interior trim colorway choices include Obsidian Black and six unique two-tone options (see specifications for details)[13].
Enhanced power electronics enable advanced EV capabilities
IONIQ 9 is underpinned by Hyundai Motor’s innovative E-GMP architecture, which enhanced PE system, with an optimized gear ratio for hill climbing and the application of a two-stage inverter for improved efficiency.
A fully encapsulated PE system helps reduce motor sound, while improved acoustic laminated glass, triple sealing in all areas and the application of a reinforced plate in the A-pillar area all help eliminate road and wind noise, vibration and harshness (NVH) inside the cabin.
The platform boasts a high-capacity, high-voltage battery for extended electric range and a flat floor for added passenger comfort and increased cargo space.
IONIQ 9 is the first Hyundai model to feature aluminum fenders and quarter panels, contributing to a lightweight body that enhances the EV’s efficiency.
The SUV also introduces a new closure system with a rolling-type pin-lift door hinge, ensuring a better fit and finish, and a newly developed electric hood latch for access to the front trunk, which not only improves the design but also enhances product quality.
Large-capacity battery delivers impressive range and performance
The advanced PE system’s high-voltage, floor-mounted NCM lithium-ion battery offers 110.3 kWh of system energy. IONIQ 9 is expected to achieve an outstanding WLTP-estimated all-electric range of 620 km and WLTP-targeted energy consumption of 194 Wh/km for the Long-Range RWD model with 19-inch wheels[14] thanks to its low drag coefficient, advanced platform and battery technologies.
IONIQ 9 conveniently charges from 10 to 80 percent in just 24 minutes using a 350 kW charger, while the platform’s vehicle-to-load (V2L) signature convenience feature and 400V/800V multi-charging capability lower the barriers to EV adoption.
The Long-Range RWD model is powered by a 160 kW rear motor, the Long-Range AWD alternative features an additional 70 kW front motor, while the Performance AWD models boast 160 kW motors at both the front and rear[15].
The Performance model[16] can accelerate from 0 to 100 km/h in just 5.2 seconds, while the Long-Range AWD variant[17] takes 6.7 seconds, and the Long-Range RWD version[18] takes 9.4 seconds.
Practical, future-oriented technologies deliver innovative experiences
Hyundai Motor has applied significant advancements to IONIQ 9 to address common EV customer concerns, including a refined EV Route Planner, improved battery consistency, an enhanced torque control display, a comprehensive energy report feature and other smart improvements.
IONIQ 9 displays its charge status via green dots on the steering wheel* to keep drivers informed of remaining energy. The model features Hyundai AI Assistant, an AI-enabled voice recognition system* similar to a home virtual assistant, which is activated by a button.
Hyundai Motor’s new Features on Demand (FoD) service is a unique offering that allows IONIQ 9 customers to further personalize their vehicle with digital upgrades purchased from the online store.
Bluelink® Connected Car Services* deliver seamless connectivity through online voice recognition and a range of features for a more convenient and enjoyable driving experience.
Over-the-air (OTA) software update capability allows in-vehicle controllers to update wirelessly.
IONIQ 9 offers 100W high-output USB-C ports* for passengers in the first, second and third rows.
This innovative concept extends the capabilities of Hyundai Motor’s Vehicle-to-Load (V2L) capability.
IONIQ 9’s climate system offers a rear-independent function optimized for leisure activities, such as car camping.
The new three-row electric SUV is also equipped with a UV-C sterilizer*, offering a multi-tray sterilization function that can disinfect small items, such as mobile phones, wallets and masks.
IONIQ 9’s infotainment system includes a 12-inch cluster and a 12-inch integrated monitor as part of the panoramic curved display[19].
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* Features with asterisks are available in selected markets only |
Standard advanced safety features provide peace of mind
IONIQ 9’s reinforced body structure ensures maximum battery safety by effectively distributing collision energy and maintaining structural integrity, even in severe incidents.
IONIQ 9 features Hyundai’s latest Advanced Driver Assistance Systems (ADAS) aimed at improving safety by preventing accidents and easing driving tasks.
Driver-centric technologies enhance performance and efficiency
IONIQ 9’s column-type shift-by-wire system is integrated with the ignition button for intuitive operation and space utilization.
The SUV’s Chassis Domain Control Unit enhances driving performance with features such as dynamic torque vectoring for improved handling, and lateral wind stability control for high-speed stability.
The vehicle’s suspension system has been designed specifically to suit the application of an all-electric SUV, with a MacPherson multi-link setup at the front and a multi-link system at the rear.
IONIQ 9 also offers competitive towing capabilities. In trailer mode, the vehicle automatically detects the trailer’s weight and adjusts predicted range accordingly.
In selected markets, Digital Side Mirrors replace traditional glass mirrors, displaying a side-rear view on a seven-inch OLED monitor.
IONIQ 9 has been engineered for reduced road noise levels, with specific considerations for the unique characteristics of EVs.
IONIQ 9 set for global sales in 2025
IONIQ 9 will go on sale in Korea and the United States in the first half of 2025, with subsequent rollout planned for Europe and other markets later. Detailed specifications will be unveiled closer to specific market launches.
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[1] Available in selected markets only |
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[2] Long-range RWD model with 19-inch wheels. EPA projected driving range is 335 miles |
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[3] Under optimal conditions, may differ by market |
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[4] Available in selected markets only |
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[5] Available in first and second rows depending on market |
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[6] Available in the Korean market only |
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[7] Available in selected markets only |
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[8] Based on the SAE standard |
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[9] With 19-inch wheels |
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[10] Available in selected markets only. When equipped with conventional side mirrors, IONIQ 9 has a drag coefficient of 0.269 Cd |
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[11] Available in selected markets only |
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[12] Colors may vary depending on the market |
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[13] Colors may vary depending on the market |
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[14] Maximum EPA-estimated all-electric range of 335 miles[14] and EPA-targeted energy consumption of 97 MPGe for Long-Range RWD with 19-inch wheels |
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[15] Actual motor outputs may vary depending on conditions |
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[16] AWD Performance variant equipped with 21-inch wheels / 0 to 60 mph in 4.9 seconds |
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[17] AWD Long-Range variant equipped with 19-inch wheels / 0 to 60 mph in 6.2 seconds |
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[18] RWD Long-Range variant equipped with 19-inch wheels / 0 to 60 mph in 8.4 seconds |
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[19] Size may vary depending on the market |
Photo – https://mma.prnewswire.com/media/2563697/Image_1__Hyundai_IONIQ_9.jpg
Photo – https://mma.prnewswire.com/media/2563698/Image_2__Hyundai_IONIQ_9.jpg
Photo – https://mma.prnewswire.com/media/2563699/Image_3__Hyundai_IONIQ_9.jpg
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