The new report by Expert Market Research titled, ‘Global Loyalty Management Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global loyalty management market, assessing the market based on its segments like delivery type, organization size, end use, 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.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 7.6 billion
- Forecast CAGR (2021-2026): 12%
- Forecast Market Size (2026): USD 15 billion
The growth of the e-commerce businesses, as well as the rise in online purchasing and consumer use of mobile and smartphone devices, are driving the industry forward.
Industry Definition and Major Segments
Loyalty management entails creating rewards for consumers’ previous purchases as well as giving incentives for future purchases. The rewards programme aims to provide significant value to clients while also increasing client penetration, cross-selling, and retention. A loyalty management system includes operational aspects such as sponsoring options, programme design, and transaction types. Different value criteria are involved, such as redemption thresholds, redemption options, and gain prices.
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Loyalty management can be segmented based on:
- Standalone Program
- Managed Platform
- Large Organization
- Small Organization
- Mid-Size Organization
The regional markets of loyalty management include
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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The increased need for loyalty services in the retail, financial services, and hospitality industries is propelling the global loyalty management market. The growing demand for digital reward programmes, analytics, and corporate intelligence is propelling the industry forward. Due to an increased focus on customer retention loyalty programmes, strong staff engagement, and cross-selling by important sector verticals, such as government and BFSI, North America holds the highest stake in the business, followed by Europe. As a result of rising card sales and customer investments in numerous benefit vouchers and choices in Mexico and Brazil, Latin America is likely to be a significant and fastest expanding market.
Key Market Players
The major players in the market are Comarch SA, International Business Machines Corporation, Oracle Corporation, Aimia, SAP ERP, Bond Brand Loyalty, TIBCO Software Inc. and 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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