Market Overview:

The global loyalty management market size reached US$ 2.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 9.1 Billion by 2027, exhibiting a growth rate (CAGR) of 21.47% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Loyalty management is an innovative data-driven tool that assists in acquiring, engaging, and retaining customers. It is integrated with the campaign management system that sends automated emails and short message services (SMSs). Besides this, it also aids in improving the customer experience, raising brand awareness, and providing relevant offers, such as revenue, points, miles, discounts, coupons, or cash back. As it is reliable, convenient, easy to use, and allows the operator to collect, manage, and leverage customer data, its demand is escalating around the world.

Loyalty Management Market Trends:

At present, there is a rise in the need for client retention and building sustainable customer relationships among various industries. This represents one of the key factors positively influencing sales of loyalty management systems across the globe. These systems enable customer service managers (CSMs) to gain real-time visibility into customer behavior and initiate campaigns and make strategies to increase the overall revenue. As a result, they are increasingly being employed in business-to-customer (B2C) companies to predict and influence the behavior of potential customers. Moreover, they find extensive applications in the retail, hospitality, manufacturing, transportation, and banking, financial services, and insurance (BFSI) sectors worldwide. Furthermore, leading players are incorporating blockchain and artificial intelligence (AI) in loyalty management systems to provide deep learning experiences and allow recording and auto-analyzing of accurate information. They are also developing enhanced smartphone-oriented programs, which is creating a favorable market outlook. Other factors, including the innovations in the tool to offer specific deals to loyal customers during festive seasons or special days and flourishing information and technology (IT) and telecom industry, are anticipated to foster the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global loyalty management market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, organization size, deployment mode and industry vertical.

Breakup by Type:

• Customer Retention
• Customer Loyalty
• Channel Loyalty
   

Breakup by Organization Size:

• Large Enterprises
• Small and Medium Enterprises
   

Breakup by Deployment Mode:

• On-premises
• Cloud-based
   

Breakup by Industry Vertical:

• BFSI
• Retail
• Travel and Hospitality
• Manufacturing
• IT and Telecom
• Media and Entertainment
• Healthcare
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Annex Cloud, Bond Brand Loyalty Inc., Comarch SA, Epsilon Data Management LLC, Fidelity Information Services Inc., ICF International Inc., Kobie Marketing Inc., LoyaltyLion, Oracle Corporation, Paystone Inc., SAP SE and TIBCO Software Inc.

Report Coverage:

Key Questions Answered in This Report:

• How has the global loyalty management market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global loyalty management market?
• What are the key regional markets?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the organization size?
• What is the breakup of the market based on the deployment mode?
• What is the breakup of the market based on the industry vertical?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global loyalty management market and who are the key players?
• What is the degree of competition in the industry?