Loyalty Management Market

Loyalty Management Market was valued at USD 7,612 Million in 2020 and anticipated to grow at a 15.9% CAGR during the forecast period.

Introduction of the Loyalty Management Market Report

Loyalty Management can be defined as a series of activities aimed at acquiring, engaging, retaining, and better serving customers. It helps companies in targeting the right audience and then provides benefits, experiences, and rewards for long-term engagement. The loyalty management includes numerous elements including loyalty rewards and benefits mix, technology enhancements, creative services, member communications & marketing, member acquisition strategy, billing engine, branded customer service, client services, and loyalty program optimization among others.

To have an edge over the competition by knowing the market dynamics and current trends of “Loyalty Management Market”, request for Sample Report here

Market Dynamic

Key Drivers and Emerging Trends

Growing demand for advanced solutions to enhance customer engagement, increasing importance of customer insights to predict future purchase, high penetration of smartphone applications, social media platforms, and the growing demand for improving client interactions, customer experiences and brand awareness are some of the major factors expected to drive the growth of the loyalty management market size during the forecast period. In addition, the loyalty management solutions provide full customer data that includes analysed sales statistics, quick access to history of transactions, membership accounts, and also offer new & existing clients with personalized offers to achieve better business.

Moreover, technological advancement and introduction of artificial intelligence & machine learning mechanisms help in identifying individual patterns in clients’ behaviour, understand your customers’ needs better, and provide offers that are perfectly in line with their preferences. This helps in increasing loyalty of program members, raising brand awareness, communicating with customers through multiple channels effectively, run multiple loyalty programs simultaneously using a single, robust platform, which thereby expected to support the growth of the global loyalty management market size. Furthermore, deployment of hybrid loyalty solutions provides end-to-end service that combines consulting, program management services and software as a service (SaaS) technology platforms to manage loyalty programs. This is expected to accelerate the growth of the global loyalty management market over the forecast period.

Restraint in the Loyalty Management Market

However, increasing awareness regarding data security and privacy is expected to restraint the growth of the market. Moreover, lack of awareness regarding loyalty programs can further limit the growth of the loyalty management market over the forecast period.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Solution – Segment Analysis

Based on the solution, B2C segment is expected to account for a prominent share in the market. This can be attributed to the increasing adoption of loyalty management solutions to encourage loyalty and long-term business with customers and to increase customer retention. Moreover, customer loyalty programs offer free merchandise, rewards, coupons, advance released products, and personalized loyalty programs, which strongly impact the shopping habits of consumers. This is expected to contribute to the growth of the market.

Industry Vertical – Segment Analysis

Based on the industry vertical, consumer goods and retail segment is expected to hold a notable market share primarily due to the rising deployment of loyalty schemes for a variety of purposes including rewarding loyal customers, generating more robust information about customer purchase, and influencing consumer behaviour. According to the United Nations Conference on Trade and Development, the e-commerce sales reached $25.6 trillion globally in 2018, with an increase of 8% from the previous year. Increasing online sales and retailer allowing customers to create online accounts to track rewards may further support the market growth.

Deployment – Segment Analysis

Based on deployment, the on demand deployment segment is expected to grow at a significant CAGR over the forecast period owing to the lower cost of cloud-based implementation than on-premises systems; rising deployment of Software as a Service (SaaS), that allows access to customer loyalty program via the network and work remotely and independently; and the advantage of integrating it with other systems in loyalty management, including the CRM and marketing resource management.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

Regional – Segment Analysis:

Based on region, North America is anticipated to hold a prominent market share during the forecast period. This can be attributed to surge in the deployment of loyalty program in the retail, travel, and hospitality sectors. The presence of prominent leaders including Kognitiv Corporation, Annex Cloud, Apex Loyalty, and Apptivo, Inc. is further expected to propel the market growth.

Top Market Players

Several leading Loyalty Management companies operating in the market, include, Kobie, Kognitiv Corporation, Annex cloud, Apex Loyalty, Apptivo, Inc., Bond Brand Loyalty Inc., Capillary Technologies, Comarch SA, Epsilon Data Management, LLC, and FiveStars among others. 

Key Developments: 

• • In 2019, Kobie, one of the leaders in loyalty marketing, launched Kobie Alchemy X, the next generation real-time loyalty platform within the Kobie Loyalty Cloud. Kobie Alchemy X includes a modern, marketer-friendly interface to guide users through the creation and delivery of contextual, personalized customer interactions.

Segments covered in the Report:

The global Loyalty Management Market has been segmented on the basis of solution, industry vertical, deployment, and key regions. Based on solution, the market is segmented into B2C and B2B. Based on industry vertical, the market is segmented into BFSI, Consumer Goods and Retail, Healthcare, IT and Telecom, Travel and Hospitality, Manufacturing, and Others. Based on deployment, the market is segmented into on premise and on-demand. 

For detailed scope of the “Loyalty Management Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is global Loyalty Management Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Loyalty Management Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Loyalty Management Market?
  • Which solution generated maximum revenues in 2020 and identify the most promising solution during the forecast period?
  • What are the various industry verticals of global Loyalty Management Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Loyalty Management Market by Solution

• • B2C
  • B2B

Global Loyalty Management Market by Industry Vertical

• • BFSI
  • Consumer Goods and Retail
  • Healthcare
  • IT and Telecom
  • Travel and Hospitality
  • Manufacturing
  • Others

Global Loyalty Management Market by Deployment

• • On-Premise
  • On-Demand

Global Loyalty Management Market by Region

• • North America Loyalty Management Market (Option 1: As a part of the free 25% customization)
    • North America Loyalty Management Market by Solution
    • North America Loyalty Management Market by Industry Vertical
    • North America Loyalty Management Market by Deployment
    • US Loyalty Management Market All-Up
    • Canada Loyalty Management Market All-Up
  • Europe Loyalty Management Market (Option 2: As a part of the free 25% customization)
    • Europe Loyalty Management Market by Solution
    • Europe Loyalty Management Market by Industry Vertical
    • Europe Loyalty Management Market by Deployment
    • UK Loyalty Management Market All-Up
    • Germany Loyalty Management Market All-Up
    • France Loyalty Management Market All-Up
    • Spain Loyalty Management Market All-Up
    • Rest of Europe Loyalty Management Market All-Up
  • Asia-Pacific Loyalty Management Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Loyalty Management Market by Solution
    • Asia-Pacific Loyalty Management Market by Industry Vertical
    • Asia-Pacific Loyalty Management Market by Deployment
    • China Loyalty Management Market All-Up
    • India Loyalty Management Market All-Up
    • Japan Loyalty Management Market All-Up
    • Rest of APAC Loyalty Management Market All-Up
  • RoW Loyalty Management Market (Option 4: As a part of the free 25% customization)
    • RoW Loyalty Management Market by Solution
    • RoW Loyalty Management Market by Industry Vertical
    • RoW Loyalty Management Market by Deployment
    • Brazil Loyalty Management Market All-Up
    • South Africa Loyalty Management Market All-Up
    • Saudi Arabia Loyalty Management Market All-Up
    • UAE Loyalty Management Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Loyalty Management Market All-Up

Major Players Operating in the Loyalty Management Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Kobie
  • Kognitiv Corporation
  • Annex cloud
  • Apex Loyalty
  • Apptivo, Inc.
  • Bond Brand Loyalty Inc.
  • Capillary Technologies
  • Comarch SA
  • Epsilon Data Management, LLC
  • FiveStars