The global loyalty management market size accounted for USD xxxx million in the historical year (2017), is anticipated to reach to USD xxxxx million by the end of 2025, rising at a CAGR of xx.x % over the forecast period (2018-2025). Prime factors expected to drive the loyalty management market growth in upcoming years are growing usage of mobile phones, substantial growth in the number of card holders, lack of awareness among consumers and rising gratefulness for online reward management programs. Other major factors fueling the market include rise in spending on loyalty solutions by organizations, recurrent alteration of end-user demographics, stringent rules & regulations by government as well as rapidly increasing applications of big data analytics and machine learning. On the other hand, major restraint towards the loyalty management market growth include failure in developing effective loyalty programs plus lack of efforts for building bonds of brand with the customers.
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The loyalty management market across the globe has been segmented by different type of solution, organization size, deployment type, vertical and geography. Further, deployment type segment of the market has been sub-segmented into on-premises and on-demand. On-demand division of the deployment type segment is likely to rise registering the highest CAGR over the forecast period of 2018-2025, owing to augmented adoption of cloud-based (on-demand) loyalty management programs by several administrations across the world. Moreover, on-demand deployment enables low infrastructure costs as well as enhanced output along with qualitative results.
Likewise, vertical segment of the market is bifurcated into retail, healthcare, telecom, media & entertainment, BFSI, hospitality, education and others. BFSI division of the vertical segment is estimated to rule the market in upcoming years. Solutions segment of the global loyalty management market is categorized as customer loyalty segment and employee retention segment. Employee retention division of the segment is expected to mount at the highest CAGR by the end of forecast period, on the account of additional cost suffered for the acquirement of new employees by various industries as well as growing employee satisfaction through several attractive reward programs.
Geographical segmentation of the international loyalty management market has been divided into several key regions covering Europe, North America, Asia-Pacific, Middle East & Africa and Latin America. North America is projected to account for the highest loyalty management market share in forthcoming years, as there are various technological developments taking place in the region including mobile technology.
Some of the key players operating in the competitive landscape of the global Loyalty Management market includes Brierley+Partners (The U.S.), Comarch (Poland), ICF International, Inc. (The U.S.), Fidelity Information Services (FIS) (The U.S.), TIBCO Software (The U.S.), IBM Corporation (The U.S.), Lumata Group (U.K.), Aimia Inc. (Canada), Oracle Corporation (The U.S.), Bond Brand Loyalty (Canada), Bond Brand Loyalty (Canada), MicroStrategy, Inc. (The U.S.) and SAP SE (Germany).
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What to expect from the upcoming report on ‘Global Loyalty Management Market’:
- Future prospects as well as global loyalty management market analysis over the forecast period (2018-2025)
- Information regarding technological progressions as well as innovations taking place in developing as well as developed economies and also various macro & microeconomic factors that affect the growth of the market.
- Supportive initiatives by government likely to influence the market dynamics.
- Key drivers influencing market’s growth, opportunities, restraints, sales channels and distributors.
- In-depth analysis of different market segmentations including type of solution, organization size, deployment type, vertical and geographical regions.
- Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market such as expansions, growth strategies, agreements, new product launches and acquisitions in the market
- Value Chain and Sales Channels Analysis
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MarketsandMarkets forecasts the global loyalty management market size to grow from USD 7.6 billion in 2020 to USD 15.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 15.3% during 2020 –2025.
The significant growth in smartphone technology and its increasing usage across the globe are expected to drive the market.Download PDF brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=172873907Among deployment modes, the cloud segment to hold a higher market share during the forecast periodOwing to the increasing awareness of the benefits of cloud-based solutions, the cloud segment for loyalty management is expected to grow significantly.
Solution providers are focusing on the development of robust cloud-based solutions for their clients, as various organizations have migrated to either a private or a public cloud.
Moreover, cloud-as-a-service is enabling organizations to manage not only costs but also achieve better agility.
As cloud-based solutions are budget-friendly and easy to deploy, it is highly preferred by Small and Medium-sized Enterprises (SMEs).By operator, the B2C (Business to Customer) segment to dominate the market during the forecast periodB2C operators undertake business directly with consumers that are end users of its products or services.
B2C loyalty programs are made for general customers and are usually not specialized or personalized to each one.
