The market size for global loyalty management is anticipated to reach USD 26 billion by 2028. The factors such as the growing adoption of multichannel and omnichannel programs, technological developments, and a growing need for competitive distinction, are responsible for the growth of loyalty management industry growth in the coming few years. Retailers and brands are concentrating on integrated plans to uphold their customer base. Loyalty programs provide customers early access to coupons, sales, and products with free merchandise.
Loyalty management is a method of marketing, built on strategic management, wherein an enterprise focuses on expanding and retaining prevailing customers via incentives. Loyalty management agendas are adopted by key organizations across different industry domains, whose key focus is on customer retention and further creating sustainable client relationships. Growing focus on client-centric approach leads to deliver several loyalty programs for cross-selling, and thus, a rise in customer penetration.
Key Segments of the Global Loyalty Management Market
Component Overview, 2018-2028 (USD Billion)
Organization Size Overview, 2018-2028 (USD Billion)
- Small & Medium Enterprise
- Large Enterprise
Operator Overview, 2018-2028 (USD Billion)
Application Overview, 2018-2028 (USD Billion)
- Media & Entertainment
- Retail & Consumer Goods
Regional Overview, 2018-2028 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global Loyalty Management Market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global Loyalty Management Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the loyalty management industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on organization type, component, operator, and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Loyalty Management Market. The report will benefit:
- Every stakeholder is involved in the Loyalty Management Market.
- Managers within the Tech companies looking to publish recent and forecasted statistics about the global Loyalty Management Market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global Loyalty Management Market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
The demand for Loyalty Management Market globally will witness considerable growth in the coming five years. Improved focus on customer experience management, propagation of mobile technologies, along with increased usage of digital cards is expected to spur the growth of the Loyalty Management Market. Organizations are more persuaded towards customer experience management to deliver specific services and products based on customer necessity. The loyalty program solution helps businesses to get customer feedback on various programs which helps them to offer superior services to their customers. Loyalty management solution suggests enterprises whether to choose for single or multiple loyalty management to retain consumers. Multiple kinds of loyalty management programs comprise of a combination of rewards, lotteries, coupons, or auctions. With the surge of e-commerce platform, the overall loyalty management industry is expected to grow shortly.
The global Loyalty Management Market contains both software and service segment. The software segment possesses a significant market share within the global loyalty management solution market in 2019. It helps organizations to boost their sales by maintaining a loyal customer base by creating an omnichannel platform to promote the customer to utilize and earn reward points across several channels such as applications, websites, or in-store. The services segment will is anticipated to grow at a significant growth rate from 2020 to 2028.
Organization Size Segment
Based on the organization size segment, the market is bifurcated into two sub-segments that are small & medium, and large enterprise. In 2019, the large enterprise segment gathered the largest market revenue and it is anticipated to govern the Loyalty Management Market throughout the forecast period. Large enterprises tend to experience high purchase frequency as well as repeat purchases through customers, most probably owing to multiple distribution channels and diverse product range. Small & medium enterprise segments will grow at a substantial growth rate over the forecast period.
Based on the deployment segment, the market is bifurcated into two sub-segments that are B2B, and B2C. In 2019, the B2C segment gathered considerable market revenue and it is anticipated to govern the market throughout the forecast period. The rising penetration of smartphones in B2C loyalty plans is also compelling vendors to introduce enhanced smartphones oriented schemes. For example, Starbucks launched its mobile app for leveraging loyalty programs after analyzing that the payments and mobile orders represent over11% of all its transactions in the U.S. In the coming seven to eight years, the B2B segment is anticipated to grow at a substantial growth rate over the forecast period.
Based on the application, the market is segmented into BFSI, construction & real estate, energy & utilities, healthcare, manufacturing, telecom, transportation & logistics, and others. The retail sector holds a dominating position within the Loyalty Management Market. The retail sector has been implementing loyalty programs for a long time to enhance repetitive purchases and maintain brand loyalty. The advancement of customer self-service portals as a cloud or web-based platform offers an online shopping experience to the consumers. Rewarding customers with points, discounts, and coupons improve customer relationships and boosts the acceptance of such type of management platforms.
The global Loyalty Management Market is divided into North America, Europe, APAC, South America, and the Middle East & Africa. North America is a mature market in loyalty management applications, owing to the outsized presence of an organization with the availability of technical expertise and advanced IT infrastructure. The US and Canada will have the highest market size in the forecast period
The major players of the global Loyalty Management Market are Aimia, Apex Loyalty, Annex cloud, Apptivo, Brierley+Partners, Capillary, Bond Brand Loyalty, Comarch, FiveStars, Hashtag Loyalty, Epsilon, ICF Next, Kobie Marketing, Kangaroo, and more. The Loyalty Management Market is fragmented with the existence of well-known global and domestic players across the globe.