The global loyalty management market is expected to be around USD 15.5 billion by 2031, at a CAGR of 15% during the forecast period.
Loyalty management deals with conniving of rewards to consumers for past purchase as well as provides them incentives with an objective to make future purchase. Rewards program intentions at providing strong value to the customers followed by improved customer penetration, cross selling and retention. A loyalty management system involves of operational parameters which include funding options, program design and transaction types among others. In addition, it also includes various value parameters like redemption thresholds, redemption options and earn rates. Many organizations are focusing on spending on loyalty programs owing to their offerings. The offerings include development of coverage to daily consumer spending, innovative rewards leading to an increase 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. Main enterprises are focusing on applying 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 expected to be around USD 15.5 billion by 2025, at a CAGR of 15% during the forecast period.
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Global Loyalty Management market is segmented based on End-User Vertical as, Email BFSI, Aviation, Automotive, Media and Entertainment, and Hospitality. On the basis of Delivery Type, the global Loyalty Management market is segregated as Standalone Program and Managed Platform.
Global Loyalty Management market report covers various regions including North America, Europe, Asia Pacific, and Rest of World. The regional Loyalty Management market is further bifurcated for major countries including U.S., Canada, Germany, UK, France, Italy, China, India, Japan, Brazil, South Africa and others.
To calculate the market size, the report considers the revenue generated from the sales of Loyalty Management market manufacturers. The revenue generated from the sales of Loyalty Management manufacturer has been calculated through primary and secondary research.
The market size estimation also considered leading players revenues as part of triangulation the key players considered are IBM (US), Comarch (Poland), Aimia (Canada), SAP (Germany), Oracle (US), Bond Band Loyalty (Canada), Tibco (US), Salesforce (US), Maritz Holdings Inc. (US), Capillary (Singapore), ICF Next (US), Antavo (UK), Blue Ocean (Canada), Kobie Marketing (US), and Epsilon (US). Availability in the Loyalty Management market across the globe identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes types of segmentation determined using secondary sources and verified through primary sources.
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