Loyalty Management Market By Type (Customer Retention, Customer Loyalty, Channel Loyalty), By Enterprise Size (Large Enterprise, Small and Medium-sized Enterprise), By Industry Vertical (Retail, BFSI, Travel and Hospitality, Manufacturing, IT and Telecom,

Loyalty Management Market By Type (Customer Retention, Customer Loyalty, Channel Loyalty), By Enterprise Size (Large Enterprise, Small and Medium-sized Enterprise), By Industry Vertical (Retail, BFSI, Travel and Hospitality, Manufacturing, IT and Telecom, Media and Entertainment, Healthcare, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

The loyalty management market was valued at $5,490 million in 2022 and is estimated to reach $44,006.08 million by 2032, exhibiting a CAGR of 23.5% from 2023 to 2032. The Loyalty management is a reward system to retain a repetitive customer. The customers who are frequent buyers are the key audience of a loyalty management program. It is projected to be used to target new customers for converting them into loyal customers. Loyalty management is a part of a loyalty program where communication and marketing are used to achieve customer retention. It is defined as an alignment of all promotional, marketing, and distribution channels to constantly deliver on the brand’s promise to its frequent customers. Loyalty management encourages customers to return for purchase and turns loyal customers into brand advocates. Loyalty management is studied across three major segments including customer retention, customer loyalty, and channel loyalty.

The global loyalty management market is attributed to increasing use of mobile applications, recurrent alteration of end-user demographics, changes in organizational structure which focus on customer segregation to effectively implement loyalty programs, significant increase in card holders, and increase in spending on loyalty programs from the organizations owing to variety of offerings on everyday purchases. The lack of awareness about such programs among customers and stringent government rules & regulations hamper the growth of loyalty management market. The flourishing applications of big data and machine learning, increase in investment for card loyalty management system technology, and growing appreciation for online reward management solutions are expected to offer numerous growth opportunities for the key vendors in the global loyalty management market.

Furthermore, surge in use of mobile application and changing end-user demographics primarily drive the growth of the loyalty management market. However, lack of awareness about loyalty programs and complexity and strict government regulations hampers the market growth. Moreover, rapidly growing applications of big data and machine learning are expected to provide lucrative opportunities for the market growth during the forecast period.

Region-wise, North America dominated the loyalty management market in 2022 and is expected to retain its position during the forecast period, owing to numerous existing card loyalty programs as well as high penetration levels with the usual adopter holding two credit card earnings rewards. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to increase in adoption of Internet-connected devices, increase in small & medium size startups, and high Internet penetration, which are expected to fuel the market growth in the region.

The key players operating in the market include Annex Cloud, Apex Loyalty, Bond Brand Loyalty, Brierley+Partners, Capillary Technologies, Cheetah Digital, Comarch, Epsilon, Fivestars, and Oracle. Furthermore, it highlights the strategies of the key players to improve the market share and sustain competition.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the loyalty management market analysis from 2022 to 2032 to identify the prevailing loyalty management market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the loyalty management market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global loyalty management market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

Customer Retention
Customer Loyalty
Channel Loyalty

By Enterprise Size

Large Enterprise
Small and Medium-sized Enterprise

By Industry Vertical

Retail
BFSI
Travel and Hospitality
Manufacturing
IT and Telecom
Media and Entertainment
Healthcare
Others

By Region

North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Middle East and Africa
Saudi Arabia
South Africa
UAE
Rest of Middle East And Africa

Key Market Players

IBM
SAP SE
Oracle Corporation
Brierley+Partners
Capillary Technologies
Annex Cloud
Apex Loyalty
Bond Brand Loyalty Inc.
Epsilon Data Management, LLC.
Comarch SA

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