Global $18.17 Bn Loyalty Management Market to 2026: Significant Growth Owing to the Intensified Competition
DUBLIN, Aug. 19, 2021 /PRNewswire/ -- The "Global Loyalty Management Market (2021-2026) by Solution, Verticals, Organization Type, Deployment, Type of Offering Capacity, Application, Geography and the Impact of COVID-19 with Ansoff Analysis, Infogence Competitive Quadrant" report has been added to ResearchAndMarkets.com's offering.
The Global Loyalty Management Market is estimated to be USD 8 Bn in 2021 and is expected to reach USD 18.17 Bn by 2026, growing at a CAGR of 17.8%.
The Global Loyalty Management Market is witnessing significant growth, owing to the intensified competition, increasing customer acquisition cost, implementing a customer-centric approach across business, and rewarding schemes offered by organizations.
Stringent government rules and regulations affect the growth of the Global Loyalty Management Market. Government regional laws such as trading stamp laws, gift certificate laws, privacy laws, and data security may restrict the adoption of loyalty programs. The lack of awareness of the rewards of the loyalty programs challenges market growth.
But, the growing investments in card loyalty systems and the rapid adoption of advanced technologies help increase the application of big data and machine learning that helps to provide opportunities for the Loyalty Management Market in the future.
Loyalty Management enables enterprises to enhance customer loyalty and increase their sales and revenue. Enterprises offer various loyalty programs such as reward points, discounts, offers, and gift vouchers across banking, grocery shopping, dining, etc., under loyalty management. Companies also arrange rewards to the customers on purchase. These rewards are designed for the customers based on their past purchases to influence them to make more purchases in the future.
B2C companies are exceedingly adopting loyalty management solutions as these companies are trying to provide the real-life benefits of customer experience management for their reputation. The increasing demand for android phones in B2C loyalty programs is also forcing vendors to develop more updated smartphones oriented programs.
Seasonal discounts and offers along with free shipping, are also the major drivers for choosing loyalty programs, especially for the rtailers. Hence, this creates a huge demand for loyalty management software during the festive seasons or special days.
Market Dynamics
Drivers
- Rising Trend of Loyalty Programs
- Technological Advancement in Mobile Technology and Applications
- The Rise in the Number of Cardholders and the Use of Reward Points
- Growing Customer Preference for Personalization to Push Loyalty Program Adoption
Restraints
- Inconsistent Customer Experience Feedback
- Stringent Government Regulations
- Lack of Awareness of the Benefits of Loyalty Programs
Opportunities
- Increased Investments in Loyalty System Technology
- Rising Application of Big Data and Machine Learning
- The Growing Importance of Customer Insights to Predict the Customer Intents
Key Topics Covered:
1. Report Description 1.1 Study Objectives 1.2 Market Definition 1.3 Currency 1.4 Years Considered 1.5 Language 1.6 Key Shareholders
2. Research Methodology 2.1 Research Process 2.2 Data Collection and Validation 2.3 Market Size Estimation 2.4 Assumptions of the Study 2.5 Limitations of the Study
3. Executive Summary
4. Market Overview 4.1 Introduction 4.2 Market Dynamics 4.2.1 Drivers 4.2.2 Restraints 4.2.3 Opportunities 4.2.4 Challenges 4.3 Trends
5. Market Analysis 5.1 Porter's Five Forces Analysis 5.2 Impact of COVID-19 5.3 Ansoff Matrix Analysis 5.4 SWOT Analysis
6. Global Loyalty Management Market, By Solution 6.1 Introduction 6.2 B2C 6.3 B2B 6.4 Corporate
7. Global Loyalty Management Market, By Vertical 7.1 Introduction 7.2 Banking and Financial Institutions 7.3 Hospitality 7.4 Retail & Consumer Goods 7.5 IT & Telecommunication 7.6 Media & Entertainment 7.7 Healthcare 7.8 Manufacturing
8. Global Loyalty Management Market, By Organization Type 8.1 Introduction 8.2 Small & Medium-Sized Enterprises 8.3 Large Enterprises
9. Global Loyalty Management Market, By Deployment 9.1 Introduction 9.2 Cloud 9.3 On-Premises
10. Global Loyalty Management Market, By Type of Offering Capacity 10.1 Introduction 10.2 Loyalty Marketing 10.3 Loyalty Strategy Design 10.4 Loyalty Management 10.5 Analytics and Measurement 10.6 Technology Platform Capabilities 10.7 Service Delivery Capabilities
11. Global Loyalty Management Market, By Application 11.1 Introduction 11.2 Web 11.3 Mobile
12. Global Loyalty Management Market, By Geography 12.1 Introduction 12.2 North America 12.2.1 US 12.2.2 Canada 12.2.3 Mexico 12.3 South America 12.3.1 Brazil 12.3.2 Argentina 12.4 Europe 12.4.1 UK 12.4.2 France 12.4.3 Germany 12.4.4 Italy 12.4.5 Rest of Europe 12.5 Asia-Pacific 12.5.1 China 12.5.2 Japan 12.5.3 India 12.5.4 Australia 12.5.5 Rest of APAC 12.6 Middle East and Africa
13. Competitive Landscape 13.1 Competitive Quadrant 13.2 Market Share Analysis 13.3 Competitive Scenario
14. Company Profiles
- AIMIA Inc.
- Bond Brand Loyalty Inc.
- IBM Corporation
- Oracle Corporation
- Comarch SA
- SAP SE
- Epsilon Data Management, LLC
- ICF International Inc.
- Kobie Marketing, Inc.
- TIBCO Software Inc.
- MicroStrategy, Inc.
- Apex Loyalty
- Sailplay
- The Lacek Group Inc.
- Paystone Inc.
- Capillary Technologies
- Annex Cloud
- Brierley Partners
- Fidelity National Information Services, Inc.
- Lumata Group
For more information about this report visit https://www.researchandmarkets.com/r/x3umwr
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