The new report by Expert Market Research titled, ‘Global Loyalty Management Market Size, Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global loyalty management market, assessing the market based on its segments like delivery types, organization sizes, end uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Loyalty Management Market Share, Size, Price, Growth, Trends, Industry Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 12%
The market growth is being driven by the growing adoption of loyalty management strategies by the retail and customer goods manufacturing companies owing to the growing expansion of the competitive landscape and rising disposable income of the potential customers. Over the forecast period, the anticipated increase in adoption of smartphones and computers are likely to bolster the efficiency of loyalty management techniques.
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In addition to this, the heavy presence of the millennials on social media is likely to encourage different brands to use loyalty management strategies more effectively. In terms of region, the Asia Pacific region accounts for a significant share of the market owing to the presence of large population in countries like India and China, which is likely to generate great business opportunities for retail companies.
Loyalty Management Industry Definition and Major Segments
Loyalty management refers to the tactics and strategies using which a company engages and retains customers. In other words, it is a process of using creative services and tools to win the trust of customers in order to increase profitability and bolster the brand value. Loyalty management also strengthens a relationship of company and its customers.
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On the basis of delivery type, the market can be segmented into:
- Standalone Program
- Managed Platform
Based on organisation size, the market has been segmented into:
- Large Organisation
- Small and Mid-size Organisation
The significant end-uses included in the market are as follows:
- Retail and Customer Goods
- Media and Entertainment
The regional markets for loyalty management include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Loyalty Management Market Trends
The key trends in the loyalty management market include the thriving e-commerce industry, which is compelling the brands of different products to use loyalty management tools to expand their reach and increase the sales of their product. Meanwhile, the technological advancements and progressive product innovations in various industries such as automotive are anticipated to propel the demand for loyalty management techniques.
Moreover, the increasing investments by BFSI industry to facilitate customer engagement programs to enhance their brand value and gather greater number of customers are likely to be some crucial trends in the market. Furthermore, the growing expansion of small and medium organisations across the emerging economies are likely to propel the demand for loyalty management tools in the coming years.
Key Market Players
The major players in the market are Comarch SA, IBM Corporation, Oracle Corporation, SAP SE, Aimia Inc. (Kognitiv Corporation), Bond Brand Loyalty, and TIBCO Software Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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