Global Loyalty Management Market – Industry Analysis and Forecast
Posted by shankar on March 6th, 2020
Global Loyalty Management Market is expected to reach US$ 6.79 Bn by 2026 from US$ XX Bn in 2019 at a CAGR of XX%.
Global Loyalty Management Market, By Geography
Global loyalty management market is segmented by solution, deployment type, organization size, vertical, and region. Based on solution, the loyalty management market is classified into customer loyalty, channel loyalty, and employee retention. On the basis of deployment type, the loyalty management market is segmented into on-demand and on-premises. Based on organization size, the loyalty management market is segregated into large enterprises and SMEs. On the basis of vertical, the loyalty management market is classified into BFSI, retail & consumer goods, healthcare & life sciences, manufacturing, IT & telecommunication, travel & hospitality, media & entertainment, and others. Region wise into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
A loyalty management system consists of operational parameters which include funding options, program design and transaction types among others. Many organizations are focusing on spending on loyalty programs owing to their offerings. The offerings include expansion of coverage to daily consumer spending, innovative rewards leading to an rise in scope for consumer response and retention followed by collaboration opportunities for enhanced services. Loyalty management software tools basically aims at building successful loyalty program for business and individual customers. Key enterprises are focusing on implementing these tools with an objective to maintain high customer satisfaction, by providing specialized loyalty programs which includes special auctions, lotteries, coupons or benefits through one platform. The global loyalty management market is anticipated to grow at a significant rate during the forecast period from 2017 to 2024.
Based on solution, the customer loyalty segment is anticipated to lead the loyalty management market during the forecast period. Customer loyalty management solutions incline customers towards choosing a particular product against other products available in the market.
In terms of vertical, the manufacturing segment of the loyalty management market is estimated to grow at the highest CAGR during the forecast period. The growth of the manufacturing segment of the loyalty management market is driven by consumer-centric approach followed by the manufacturing companies, along with increased need to retain their existing customers. The manufacturing industry is anticipated to adopt loyalty management solutions to enhance experience of customers from the point of purchase to post-purchase services.
In terms of region, North America is expected to be largest market for loyalty management during the forecast period. This is due to the progressions taking place in the region, in terms of mobile technologies most of the consumers are using mobile apps to carry out various transactions. Hence, top vendors are offering technologically advanced loyalty management solutions, specifically for mobile apps.
Some of the key players in the loyalty management market are Oracle Corporation, SAP SE, Comarch, Brierley+Partners, ICF International, Inc., TIBCO Software, Fidelity Information Services, Lumata Group, IBM Corporation, Aimia Inc., Bond Brand Loyalty, Bond Brand Loyalty and MicroStrategy, Inc. among others.
Global Loyalty Management Market, By Solution
• Customer Loyalty
• Large Enterprises
• North America
• IBM Corporation
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About the Authorshankar
Joined: July 22nd, 2019
Articles Posted: 156
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